Connor Clark & Lunn Investment Management Ltd. Grows Position in CNX Resources Co. (NYSE:CNX)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in CNX Resources Co. (NYSE:CNX) by 0.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 622,503 shares of the oil and gas producer’s stock after acquiring an additional 5,769 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.42% of CNX Resources worth $22,827,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of CNX. Entropy Technologies LP purchased a new position in CNX Resources in the third quarter worth $519,000. Victory Capital Management Inc. grew its holdings in CNX Resources by 2.8% in the third quarter. Victory Capital Management Inc. now owns 97,972 shares of the oil and gas producer’s stock valued at $3,191,000 after purchasing an additional 2,663 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in CNX Resources in the third quarter valued at $205,000. Natixis Advisors LLC grew its holdings in CNX Resources by 3.1% in the third quarter. Natixis Advisors LLC now owns 41,644 shares of the oil and gas producer’s stock valued at $1,356,000 after purchasing an additional 1,241 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in CNX Resources by 12.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,860,817 shares of the oil and gas producer’s stock valued at $60,607,000 after purchasing an additional 202,890 shares during the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Raymond James raised CNX Resources from an “underperform” rating to a “market perform” rating in a report on Tuesday, February 18th. Truist Financial upped their target price on CNX Resources from $34.00 to $35.00 and gave the company a “hold” rating in a report on Friday, December 6th. Piper Sandler lowered their target price on CNX Resources from $23.00 to $22.00 and set an “underweight” rating on the stock in a report on Wednesday, January 29th. Roth Capital set a $30.00 target price on CNX Resources in a report on Thursday, January 23rd. Finally, TD Cowen started coverage on CNX Resources in a research note on Wednesday, January 15th. They set a “hold” rating and a $27.00 price objective on the stock. Nine research 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 stock presently has an average rating of “Reduce” and a consensus price target of $29.38.

CNX Resources Stock Performance

NYSE CNX opened at $29.83 on Friday. The business’s 50-day moving average price is $29.81 and its 200 day moving average price is $32.91. CNX Resources Co. has a twelve month low of $21.07 and a twelve month high of $41.93. The company has a market capitalization of $4.44 billion, a PE ratio of -43.86, a price-to-earnings-growth ratio of 0.42 and a beta of 1.26. 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 (NYSE:CNX) last released its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share for the quarter, topping 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%. On average, research analysts predict that CNX Resources Co. will post 2.18 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $31.09, for a total value of $33,421,750.00. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.65% of the stock is currently owned by company insiders.

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.