6,768 Shares in CNX Resources Co. (NYSE:CNX) Acquired by Forum Financial Management LP

Forum Financial Management LP acquired a new stake in shares of CNX Resources Co. (NYSE:CNX) in the third quarter, Holdings Channel reports. The firm acquired 6,768 shares of the oil and gas producer’s stock, valued at approximately $220,000.

Several other hedge funds have also added to or reduced their stakes in CNX. Mizuho Markets Americas LLC purchased a new position in shares of CNX Resources in the 2nd quarter worth about $97,200,000. American Century Companies Inc. lifted its stake in shares of CNX Resources by 12.0% in the second quarter. American Century Companies Inc. now owns 3,699,186 shares of the oil and gas producer’s stock worth $89,890,000 after buying an additional 397,729 shares in the last quarter. LSV Asset Management grew its holdings in shares of CNX Resources by 1.4% during the second quarter. LSV Asset Management now owns 1,780,921 shares of the oil and gas producer’s stock valued at $43,276,000 after buying an additional 23,800 shares during the last quarter. Tributary Capital Management LLC increased its position in shares of CNX Resources by 0.3% during the second quarter. Tributary Capital Management LLC now owns 901,940 shares of the oil and gas producer’s stock valued at $21,917,000 after acquiring an additional 2,535 shares in the last quarter. Finally, Clearbridge Investments LLC raised its holdings in CNX Resources by 2.2% in the 1st quarter. Clearbridge Investments LLC now owns 587,005 shares of the oil and gas producer’s stock worth $13,924,000 after acquiring an additional 12,441 shares during the last quarter. 95.16% of the stock is owned by institutional investors.

CNX Resources Trading Up 1.9 %

Shares of CNX stock opened at $35.38 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.37 and a quick ratio of 0.36. The company has a market cap of $5.28 billion, a price-to-earnings ratio of 11.12, a PEG ratio of 1.67 and a beta of 1.37. CNX Resources Co. has a 1 year low of $19.07 and a 1 year high of $37.57. The firm has a fifty day moving average price of $31.79 and a 200-day moving average price of $27.44.

CNX Resources (NYSE:CNX) last released its quarterly earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.09. The business had revenue of $424.21 million during the quarter, compared to analyst estimates of $398.33 million. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. During the same quarter in the previous year, the company posted $0.35 earnings per share. As a group, equities analysts predict that CNX Resources Co. will post 1.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on CNX shares. BMO Capital Markets lifted their target price on CNX Resources from $26.00 to $29.00 and gave the stock a “market perform” rating in a report on Friday, October 4th. Truist Financial downgraded CNX Resources from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $38.00 to $34.00 in a report on Monday, October 28th. Capital One Financial downgraded shares of CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 price target on the stock. in a report on Monday, October 14th. Piper Sandler cut shares of CNX Resources from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $22.00 to $20.00 in a report on Thursday, August 15th. Finally, Tudor, Pickering, Holt & Co. cut shares of CNX Resources from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. Six investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $29.00.

Insider Activity at CNX Resources

In other news, Director Bernard Lanigan, Jr. bought 75,000 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were bought at an average price of $26.81 per share, for a total transaction of $2,010,750.00. Following the purchase, the director now owns 401,820 shares in the company, valued at approximately $10,772,794.20. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.65% of the stock is currently owned by corporate insiders.

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.