US Bancorp DE increased its position in shares of CNX Resources Co. (NYSE:CNX – Free Report) by 13.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,018 shares of the oil and gas producer’s stock after purchasing an additional 3,543 shares during the period. US Bancorp DE’s holdings in CNX Resources were worth $465,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the business. Aventail Capital Group LP acquired a new position in shares of CNX Resources during the 4th quarter worth about $505,000. Schroder Investment Management Group raised its holdings in CNX Resources by 64.3% during the fourth quarter. Schroder Investment Management Group now owns 810,463 shares of the oil and gas producer’s stock worth $13,648,000 after purchasing an additional 317,261 shares in the last quarter. Clear Street Markets LLC purchased a new stake in shares of CNX Resources during the 4th quarter worth approximately $260,000. CM Wealth Advisors LLC acquired a new position in shares of CNX Resources in the 1st quarter valued at $391,000. Finally, Delphi Financial Group Inc. purchased a new position in shares of CNX Resources in the 1st quarter valued at $3,061,000. Hedge funds and other institutional investors own 94.60% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on the stock. Piper Sandler boosted their price target on shares of CNX Resources from $16.00 to $19.00 and gave the company a “neutral” rating in a research report on Monday, August 14th. StockNews.com initiated coverage on CNX Resources in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Mizuho lifted their price target on CNX Resources from $18.00 to $22.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 16th. Finally, Truist Financial increased their price objective on CNX Resources from $15.00 to $17.00 and gave the company a “hold” rating in a report on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat, CNX Resources presently has a consensus rating of “Hold” and a consensus price target of $19.60.
Insider Activity
In other news, Director Bernard Lanigan, Jr. acquired 137,835 shares of CNX Resources stock in a transaction that occurred on Tuesday, May 30th. The stock was purchased at an average price of $15.24 per share, for a total transaction of $2,100,605.40. Following the completion of the transaction, the director now directly owns 137,835 shares in the company, valued at $2,100,605.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.10% of the company’s stock.
CNX Resources Stock Up 1.0 %
CNX Resources stock opened at $21.76 on Friday. The stock has a 50 day moving average of $19.29 and a two-hundred day moving average of $17.03. CNX Resources Co. has a twelve month low of $14.36 and a twelve month high of $22.70. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of 2.30, a PEG ratio of 2.44 and a beta of 1.37. The company has a current ratio of 0.58, a quick ratio of 0.54 and a debt-to-equity ratio of 0.54.
CNX Resources (NYSE:CNX – Get Free Report) last issued its quarterly earnings results on Thursday, July 27th. The oil and gas producer reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.05. The firm had revenue of $839.70 million during the quarter, compared to the consensus estimate of $386.68 million. CNX Resources had a return on equity of 12.98% and a net margin of 49.95%. The company’s revenue for the quarter was up 99.7% on a year-over-year basis. During the same period last year, the company earned $0.61 earnings per share. As a group, research analysts expect that CNX Resources Co. will post 1.6 earnings per share for the current year.
CNX Resources Profile
CNX Resources Corporation, an independent natural gas and midstream company, acquires, explores for, develops, and produces 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.
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