101,268 Shares in CNX Resources Co. (NYSE:CNX) Bought by ExodusPoint Capital Management LP

Posted by Defense World Staff on Sep 3rd, 2023

ExodusPoint Capital Management LP bought a new stake in CNX Resources Co. (NYSE:CNX – Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 101,268 shares of the oil and gas producer’s stock, valued at approximately $1,622,000. ExodusPoint Capital Management LP owned 0.06% of CNX Resources at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. American Century Companies Inc. raised its stake in shares of CNX Resources by 38.2% in the first quarter. American Century Companies Inc. now owns 2,028,512 shares of the oil and gas producer’s stock valued at $32,497,000 after buying an additional 560,703 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of CNX Resources by 11.2% in the first quarter. Envestnet Asset Management Inc. now owns 184,670 shares of the oil and gas producer’s stock valued at $2,958,000 after buying an additional 18,601 shares during the period. Greenleaf Trust raised its stake in shares of CNX Resources by 12.0% in the first quarter. Greenleaf Trust now owns 12,499 shares of the oil and gas producer’s stock valued at $200,000 after buying an additional 1,339 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in shares of CNX Resources by 38.0% in the first quarter. Vanguard Personalized Indexing Management LLC now owns 20,968 shares of the oil and gas producer’s stock valued at $336,000 after buying an additional 5,775 shares during the period. Finally, Qsemble Capital Management LP raised its stake in shares of CNX Resources by 90.8% during the 1st quarter. Qsemble Capital Management LP now owns 26,900 shares of the oil and gas producer’s stock valued at $431,000 after purchasing an additional 12,800 shares during the period. 95.16% of the stock is currently owned by institutional investors.

CNX Resources Price Performance

CNX Resources stock opened at $22.67 on Friday. CNX Resources Co. has a 52 week low of $14.36 and a 52 week high of $22.83. The business has a 50-day simple moving average of $19.80 and a 200 day simple moving average of $17.24. The company has a quick ratio of 0.54, a current ratio of 0.58 and a debt-to-equity ratio of 0.54. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of 2.39, a PEG ratio of 2.45 and a beta of 1.37.

CNX Resources (NYSE:CNX – Get Free Report) last posted its earnings results on Thursday, July 27th. The oil and gas producer reported $0.29 EPS for the quarter, topping the consensus estimate of $0.24 by $0.05. CNX Resources had a return on equity of 12.98% and a net margin of 49.95%. The business had revenue of $839.70 million during the quarter, compared to analysts’ expectations of $386.68 million. During the same period in the previous year, the business earned $0.61 earnings per share. The firm’s revenue was up 99.7% on a year-over-year basis. On average, research analysts forecast that CNX Resources Co. will post 1.6 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CNX has been the topic of a number of analyst reports. Mizuho boosted their price objective on CNX Resources from $18.00 to $22.00 and gave the company an “underperform” rating in a research note on Wednesday, August 16th. StockNews.com initiated coverage on CNX Resources in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Truist Financial boosted their price objective on CNX Resources from $15.00 to $17.00 and gave the company a “hold” rating in a research note on Monday, July 24th. Finally, Piper Sandler boosted their price objective on CNX Resources from $16.00 to $19.00 and gave the company a “neutral” rating in a research note on Monday, August 14th. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat, CNX Resources presently has a consensus rating of “Hold” and a consensus target price of $19.60.

Check Out Our Latest Research Report on CNX Resources

CNX Resources Company Profile

(Free Report)

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.