1,034,171 Shares in CNX Resources Co. (NYSE:CNX) Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership purchased a new stake in CNX Resources Co. (NYSE:CNX) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,034,171 shares of the oil and gas producer’s stock, valued at approximately $37,923,000. Arrowstreet Capital Limited Partnership owned approximately 0.69% of CNX Resources at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CNX. Harvest Fund Management Co. Ltd acquired a new stake in shares of CNX Resources during the 4th quarter worth about $39,000. VSM Wealth Advisory LLC purchased a new stake in shares of CNX Resources during the 4th quarter worth approximately $55,000. Principal Securities Inc. boosted its holdings in shares of 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 valued at $91,000 after buying an additional 691 shares in the last quarter. Blue Trust Inc. grew its position in shares of CNX Resources by 65.1% in the 4th 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. Finally, Heck Capital Advisors LLC acquired a new stake in CNX Resources during the 4th quarter worth $121,000. 95.16% of the stock is owned by hedge funds and other institutional investors.

CNX Resources Stock Up 0.3 %

CNX opened at $31.96 on Thursday. The business has a 50 day simple moving average of $29.96 and a 200-day simple moving average of $33.35. CNX Resources Co. has a 12 month low of $22.82 and a 12 month high of $41.93. The stock has a market capitalization of $4.71 billion, a P/E ratio of -47.00, a P/E/G 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.

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CNX. Bank of America decreased their price objective on shares of CNX Resources from $32.00 to $27.00 and set an “underperform” rating for the company in a research note on Tuesday. Mizuho cut their price target 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. Roth Capital set a $30.00 price objective on CNX Resources in a report on Thursday, January 23rd. TD Cowen began coverage on shares of CNX Resources in a research report on Wednesday, January 15th. They set a “hold” rating and a $27.00 target price on the stock. Finally, StockNews.com cut shares of CNX Resources from a “hold” rating to a “sell” rating in a research note on Thursday, February 13th. Nine analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $30.83.

Insider Buying and Selling at CNX Resources

In related 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 stock was sold at an average price of $31.09, for a total value of $33,421,750.00. Following the completion of the transaction, the insider now directly owns 13,925,000 shares of the company’s stock, 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 at this hyperlink. 3.10% of the stock is currently owned by corporate 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.