Systematic Financial Management LP Grows Stake in CNX Resources Corp (CNX)

Systematic Financial Management LP grew its position in CNX Resources Corp (NYSE:CNX) by 35.0% during the 1st quarter, HoldingsChannel reports. The fund owned 123,850 shares of the oil and gas producer’s stock after buying an additional 32,110 shares during the quarter. Systematic Financial Management LP’s holdings in CNX Resources were worth $1,334,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Hawaiian Bank lifted its position in shares of CNX Resources by 54.9% in the fourth quarter. First Hawaiian Bank now owns 2,948 shares of the oil and gas producer’s stock valued at $34,000 after acquiring an additional 1,045 shares in the last quarter. Investors Research Corp purchased a new position in CNX Resources during the first quarter worth approximately $57,000. Pearl River Capital LLC lifted its position in CNX Resources by 1,047.6% during the first quarter. Pearl River Capital LLC now owns 5,738 shares of the oil and gas producer’s stock worth $62,000 after buying an additional 5,238 shares in the last quarter. Macquarie Group Ltd. lifted its position in CNX Resources by 869.5% during the fourth quarter. Macquarie Group Ltd. now owns 7,756 shares of the oil and gas producer’s stock worth $89,000 after buying an additional 6,956 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in CNX Resources by 14.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,414 shares of the oil and gas producer’s stock worth $142,000 after buying an additional 1,554 shares in the last quarter. Institutional investors and hedge funds own 98.10% of the company’s stock.

CNX Resources stock traded down $0.10 during trading on Friday, reaching $8.77. 25,385 shares of the company were exchanged, compared to its average volume of 4,389,197. CNX Resources Corp has a 52-week low of $8.44 and a 52-week high of $18.37. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 5.74 and a beta of 0.71. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.59 and a current ratio of 0.62.



CNX Resources (NYSE:CNX) last announced its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.14 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.07). The company had revenue of $278.40 million for the quarter, compared to analysts’ expectations of $408.29 million. CNX Resources had a return on equity of 5.66% and a net margin of 12.00%. The business’s quarterly revenue was down 43.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.19 EPS. On average, analysts predict that CNX Resources Corp will post 0.69 EPS for the current fiscal year.

CNX has been the topic of a number of analyst reports. Robert W. Baird reiterated a “buy” rating and set a $15.00 price objective on shares of CNX Resources in a research report on Monday, February 4th. Zacks Investment Research upgraded CNX Resources from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research report on Tuesday, April 23rd. TheStreet downgraded CNX Resources from a “b-” rating to a “c+” rating in a research report on Wednesday, March 6th. Susquehanna Bancshares set a $11.00 price objective on CNX Resources and gave the stock a “hold” rating in a research report on Saturday, February 2nd. Finally, Tudor Pickering downgraded CNX Resources from a “buy” rating to a “hold” rating in a research report on Friday, February 1st. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $14.83.

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CNX Resources Company Profile

CNX Resources Corporation, an independent oil and gas company, explores for, develops, and produces natural gas primarily in the Appalachian Basin. The company operates through two divisions, Exploration and Production (E&P), and Midstream. The E&P division produces pipeline quality natural gas primarily to gas wholesalers.

Read More: Producer Price Index (PPI)

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Institutional Ownership by Quarter for CNX Resources (NYSE:CNX)

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