CNX Resources Co. (NYSE:CNX) Shares Bought by Counterpoint Mutual Funds LLC

Counterpoint Mutual Funds LLC lifted its position in CNX Resources Co. (NYSE:CNX) by 149.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,637 shares of the oil and gas producer’s stock after buying an additional 11,770 shares during the quarter. Counterpoint Mutual Funds LLC’s holdings in CNX Resources were worth $720,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. increased its position in shares of CNX Resources by 2.8% during the third quarter. Victory Capital Management Inc. now owns 97,972 shares of the oil and gas producer’s stock worth $3,191,000 after acquiring an additional 2,663 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in CNX Resources during the 3rd quarter worth about $205,000. Natixis Advisors LLC raised its position in CNX Resources by 3.1% in the 3rd 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of CNX Resources by 311.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 616,734 shares of the oil and gas producer’s stock valued at $20,087,000 after buying an additional 466,694 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of CNX Resources by 12.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,860,817 shares of the oil and gas producer’s stock worth $60,607,000 after buying an additional 202,890 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 equities analysts recently commented on the stock. Truist Financial boosted their target price on shares of CNX Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. raised their target price on CNX Resources from $32.00 to $33.00 and gave the stock an “underweight” rating in a research report on Thursday. TD Cowen began 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. Piper Sandler dropped their price objective on CNX Resources from $23.00 to $22.00 and set an “underweight” rating on the stock in a report on Wednesday, January 29th. Finally, Roth Capital set a $30.00 price objective on CNX Resources in a research note on Thursday, January 23rd. Nine equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $29.38.

Insider Buying and Selling at CNX Resources

In other news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the company’s stock in a transaction on 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 completion of the sale, the insider now owns 13,925,000 shares in the company, valued at $432,928,250. This represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 4.65% of the stock is currently owned by company insiders.

CNX Resources Trading Up 2.2 %

NYSE CNX opened at $30.51 on Monday. The firm has a market capitalization of $4.54 billion, a price-to-earnings ratio of -44.87, a PEG ratio of 0.42 and a beta of 1.26. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.32 and a current ratio of 0.33. CNX Resources Co. has a one year low of $21.07 and a one year high of $41.93. The company’s 50 day moving average price is $29.61 and its 200 day moving average price is $32.99.

CNX Resources (NYSE:CNX) last posted its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share (EPS) 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, sell-side analysts predict that CNX Resources Co. will post 2.18 EPS for the current 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.