QRG Capital Management Inc. Raises Stock Position in CNX Resources Co. (NYSE:CNX)

QRG Capital Management Inc. lifted its position in CNX Resources Co. (NYSE:CNX) by 3.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 200,732 shares of the oil and gas producer’s stock after acquiring an additional 7,086 shares during the quarter. QRG Capital Management Inc. owned 0.13% of CNX Resources worth $7,361,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CNX. Principal Securities Inc. raised its position in CNX Resources by 38.5% in the 4th quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer’s stock worth $91,000 after purchasing an additional 691 shares during the period. Blue Trust Inc. grew its stake in shares of CNX Resources by 65.1% during the fourth quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer’s stock valued at $119,000 after buying an additional 1,280 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of CNX Resources in the fourth quarter worth approximately $121,000. Oppenheimer Asset Management Inc. bought a new stake in shares of CNX Resources during the 3rd quarter worth approximately $205,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in CNX Resources during the 3rd quarter valued at $209,000. 95.16% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at CNX Resources

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $31.09, for a total value of $33,421,750.00. Following the completion of the sale, the insider now directly owns 13,925,000 shares in the company, valued at $432,928,250. This trade represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.10% of the company’s stock.

CNX Resources Trading Up 0.9 %

Shares of NYSE:CNX opened at $28.91 on Friday. The company has a market capitalization of $4.30 billion, a PE ratio of -42.51, a P/E/G ratio of 0.42 and a beta of 1.38. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 0.45. CNX Resources Co. has a 12-month low of $20.76 and a 12-month high of $41.93. The business’s fifty day simple moving average is $30.94 and its 200-day simple moving average is $32.72.

CNX Resources (NYSE:CNX) last posted its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.14. CNX Resources had a positive return on equity of 6.72% and a negative net margin of 7.14%. As a group, equities research analysts predict that CNX Resources Co. will post 2.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CNX. JPMorgan Chase & Co. lowered CNX Resources from a “neutral” rating to an “underweight” rating and increased their target price for the stock from $31.00 to $37.00 in a research note on Thursday, December 5th. Morgan Stanley assumed coverage on shares of CNX Resources in a research note on Friday, January 10th. They issued an “underweight” rating and a $29.00 price target on the stock. Roth Capital set a $30.00 price objective on shares of CNX Resources in a research report on Thursday, January 23rd. Raymond James raised shares of CNX Resources from an “underperform” rating to a “market perform” rating in a research report on Tuesday, February 18th. Finally, TD Cowen started coverage on CNX Resources in a report on Wednesday, January 15th. They issued a “hold” rating and a $27.00 price target for the company. Nine research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $29.69.

CNX Resources Company 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.