Semanteon Capital Management LP Grows Stock Position in CNX Resources Co. (NYSE:CNX)

Semanteon Capital Management LP grew its position in CNX Resources Co. (NYSE:CNX) by 75.6% during the fourth quarter, Holdings Channel reports. The firm owned 15,191 shares of the oil and gas producer’s stock after acquiring an additional 6,542 shares during the period. Semanteon Capital Management LP’s holdings in CNX Resources were worth $557,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Geode Capital Management LLC grew its holdings in CNX Resources by 0.3% during the third quarter. Geode Capital Management LLC now owns 3,602,837 shares of the oil and gas producer’s stock worth $117,366,000 after acquiring an additional 12,333 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of CNX Resources by 7.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,000,464 shares of the oil and gas producer’s stock valued at $73,357,000 after acquiring an additional 139,647 shares in the last quarter. Assetmark Inc. lifted its position in shares of CNX Resources by 2.2% in the fourth quarter. Assetmark Inc. now owns 885,429 shares of the oil and gas producer’s stock valued at $32,469,000 after acquiring an additional 19,309 shares in the last quarter. Aureus Asset Management LLC lifted its position in shares of CNX Resources by 0.6% in the third quarter. Aureus Asset Management LLC now owns 642,289 shares of the oil and gas producer’s stock valued at $20,919,000 after acquiring an additional 3,659 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in CNX Resources by 0.9% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 622,503 shares of the oil and gas producer’s stock worth $22,827,000 after buying an additional 5,769 shares in the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the business’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 completion of the sale, the insider now directly owns 13,925,000 shares of the company’s stock, valued at approximately $432,928,250. The trade was a 7.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.10% of the company’s stock.

CNX Resources Stock Down 0.7 %

Shares of NYSE CNX opened at $31.79 on Friday. The company has a market capitalization of $4.73 billion, a price-to-earnings ratio of -46.75, a price-to-earnings-growth ratio of 0.42 and a beta of 1.26. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32. The business has a 50-day moving average of $29.71 and a two-hundred day moving average of $33.05. CNX Resources Co. has a 1 year low of $22.58 and a 1 year high of $41.93.

CNX Resources (NYSE:CNX) last announced its quarterly earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, analysts forecast that CNX Resources Co. will post 2.18 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Mizuho reduced their price objective on CNX Resources from $38.00 to $34.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 14th. Stephens raised CNX Resources from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $35.00 to $48.00 in a research note on Tuesday. JPMorgan Chase & Co. lifted their price objective on CNX Resources from $32.00 to $33.00 and gave the company an “underweight” rating in a research note on Thursday, March 13th. Piper Sandler dropped their price objective on CNX Resources from $23.00 to $22.00 and set an “underweight” rating for the company in a research note on Wednesday, January 29th. Finally, StockNews.com cut CNX Resources from a “hold” rating to a “sell” rating in a research note on Thursday, February 13th. Nine investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $30.38.

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.