Investment Partners Asset Management Inc. Takes Position in CNX Resources Co. (NYSE:CNX)

Investment Partners Asset Management Inc. acquired a new position in shares of CNX Resources Co. (NYSE:CNX) in the 3rd quarter, Holdings Channel reports. The fund acquired 6,866 shares of the oil and gas producer’s stock, valued at approximately $224,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CNX. QRG Capital Management Inc. raised its position in CNX Resources by 13.8% during the second quarter. QRG Capital Management Inc. now owns 190,498 shares of the oil and gas producer’s stock valued at $4,629,000 after acquiring an additional 23,069 shares in the last quarter. Duality Advisers LP boosted its stake in shares of CNX Resources by 61.1% in the first quarter. Duality Advisers LP now owns 131,196 shares of the oil and gas producer’s stock worth $3,112,000 after acquiring an additional 49,741 shares during the last quarter. Boston Partners acquired a new stake in CNX Resources during the 1st quarter worth $951,000. Moloney Securities Asset Management LLC acquired a new position in CNX Resources during the first quarter worth about $986,000. Finally, Allspring Global Investments Holdings LLC grew its stake in CNX Resources by 243.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 72,656 shares of the oil and gas producer’s stock valued at $1,723,000 after acquiring an additional 51,490 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on CNX shares. Tudor, Pickering, Holt & Co. lowered shares of CNX Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. BMO Capital Markets boosted their price objective on CNX Resources from $26.00 to $29.00 and gave the stock a “market perform” rating in a research note on Friday, October 4th. StockNews.com cut CNX Resources from a “hold” rating to a “sell” rating in a report on Saturday, August 3rd. JPMorgan Chase & Co. boosted their price target on shares of CNX Resources from $26.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Finally, Mizuho lifted their target price on shares of CNX Resources from $32.00 to $33.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Six equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $28.60.

CNX Resources Trading Down 2.6 %

Shares of CNX traded down $0.96 during trading on Monday, reaching $35.61. 512,669 shares of the company traded hands, compared to its average volume of 2,711,078. The stock has a 50-day simple moving average of $30.89 and a 200-day simple moving average of $26.99. The stock has a market cap of $5.46 billion, a PE ratio of 6.63 and a beta of 1.38. CNX Resources Co. has a twelve month low of $19.07 and a twelve month high of $37.57. The company has a quick ratio of 0.40, a current ratio of 0.41 and a debt-to-equity ratio of 0.46.

CNX Resources (NYSE:CNX) last posted its quarterly earnings data on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.09. The firm had revenue of $424.21 million during the quarter, compared to analysts’ expectations of $398.33 million. CNX Resources had a net margin of 26.64% and a return on equity of 7.51%. During the same quarter last year, the company posted $0.35 EPS. On average, analysts anticipate that CNX Resources Co. will post 1.43 earnings per share for the current year.

Insider Activity

In other news, Director Bernard Lanigan, Jr. bought 75,000 shares of the company’s stock in a transaction on Monday, September 9th. The stock was bought at an average cost of $26.81 per share, with a total value of $2,010,750.00. Following the transaction, the director now directly owns 401,820 shares in the company, valued at $10,772,794.20. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.10% of the company’s stock.

About CNX Resources

CNX Resources Corporation, an independent natural gas and midstream company, engages in the acquisition, exploration, development, and production of natural gas properties in the Appalachian Basin. The company operates in two segments, Shale and Coalbed Methane (CBM). It produces and sells pipeline quality natural gas primarily for gas wholesalers.