Aureus Asset Management LLC Grows Stock Position in CNX Resources Co. (NYSE:CNX)

Aureus Asset Management LLC lifted its stake in shares of CNX Resources Co. (NYSE:CNX) by 0.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 642,289 shares of the oil and gas producer’s stock after purchasing an additional 3,659 shares during the quarter. CNX Resources comprises approximately 1.4% of Aureus Asset Management LLC’s portfolio, making the stock its 29th biggest position. Aureus Asset Management LLC owned about 0.43% of CNX Resources worth $20,919,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. QRG Capital Management Inc. raised its stake in shares of 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 worth $4,629,000 after purchasing an additional 23,069 shares during the last quarter. Boston Partners acquired a new position in CNX Resources during the first quarter worth $951,000. Bridges Investment Management Inc. acquired a new position in CNX Resources during the second quarter worth $916,000. Paralel Advisors LLC acquired a new position in CNX Resources during the second quarter worth $2,338,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in CNX Resources by 311.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 616,734 shares of the oil and gas producer’s stock worth $20,087,000 after acquiring an additional 466,694 shares during the period. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Insider Activity at CNX Resources

In other CNX Resources news, Director Bernard Lanigan, Jr. bought 75,000 shares of CNX Resources stock in a transaction that occurred on Monday, September 9th. The shares were purchased at an average cost of $26.81 per share, for a total transaction of $2,010,750.00. Following the completion of the transaction, the director now owns 401,820 shares of the company’s stock, valued at $10,772,794.20. This represents a 22.95 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CNX shares. BMO Capital Markets upped their price objective on CNX Resources from $26.00 to $29.00 and gave the stock a “market perform” rating in a report on Friday, October 4th. Capital One Financial lowered CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 price objective on the stock. in a report on Monday, October 14th. Scotiabank upped their price objective on CNX Resources from $25.00 to $27.00 and gave the stock a “sector underperform” rating in a report on Tuesday, August 20th. Mizuho upped their target price on CNX Resources from $32.00 to $33.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Finally, Stephens upped their target price on CNX Resources from $26.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Six research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $29.00.

CNX Resources Stock Up 0.4 %

CNX opened at $40.52 on Monday. The company has a quick ratio of 0.36, a current ratio of 0.37 and a debt-to-equity ratio of 0.46. The firm has a market cap of $6.05 billion, a P/E ratio of 12.74, a PEG ratio of 1.96 and a beta of 1.37. CNX Resources Co. has a 52 week low of $19.07 and a 52 week high of $41.93. The business’s fifty day simple moving average is $36.09 and its 200 day simple moving average is $29.47.

CNX Resources (NYSE:CNX) last posted its quarterly earnings data on Thursday, October 24th. The oil and gas producer reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.09. The business had revenue of $424.21 million for 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 last year, the company earned $0.35 earnings per share. As a group, equities research analysts anticipate that CNX Resources Co. will post 1.53 EPS for the current fiscal year.

CNX Resources Profile

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.