BI Asset Management Fondsmaeglerselskab A S Buys New Holdings in CNX Resources Co. (NYSE:CNX)

BI Asset Management Fondsmaeglerselskab A S acquired a new position in CNX Resources Co. (NYSE:CNX) in the 4th quarter, HoldingsChannel reports. The firm acquired 22,186 shares of the oil and gas producer’s stock, valued at approximately $444,000.

Several other institutional investors and hedge funds have also bought and sold shares of CNX. Raymond James Financial Services Advisors Inc. purchased a new stake in CNX Resources in the 3rd quarter worth approximately $385,000. Allspring Global Investments Holdings LLC increased its position in CNX Resources by 1,924.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,454 shares of the oil and gas producer’s stock valued at $213,000 after buying an additional 8,987 shares in the last quarter. M&T Bank Corp bought a new position in CNX Resources during the 3rd quarter valued at approximately $217,000. Nomura Asset Management Co. Ltd. increased its position in CNX Resources by 30.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,540 shares of the oil and gas producer’s stock valued at $57,000 after buying an additional 590 shares in the last quarter. Finally, LSV Asset Management increased its position in CNX Resources by 472.1% during the 3rd quarter. LSV Asset Management now owns 460,548 shares of the oil and gas producer’s stock valued at $10,399,000 after buying an additional 380,048 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

CNX Resources Price Performance

NYSE CNX opened at $24.61 on Friday. The business’s fifty day moving average is $23.70 and its 200 day moving average is $21.61. CNX Resources Co. has a fifty-two week low of $15.08 and a fifty-two week high of $24.94. The company has a market capitalization of $3.77 billion, a PE ratio of 4.46 and a beta of 1.36. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.51 and a current ratio of 0.53.

CNX Resources (NYSE:CNX) last announced its quarterly earnings data on Thursday, April 25th. The oil and gas producer reported $0.45 EPS for the quarter, beating the consensus estimate of $0.36 by $0.09. CNX Resources had a return on equity of 7.68% and a net margin of 40.44%. The business had revenue of $381.00 million for the quarter, compared to the consensus estimate of $420.13 million. Sell-side analysts predict that CNX Resources Co. will post 1.39 earnings per share for the current year.

Insider Activity

In other news, EVP Timothy Scott Bedard sold 1,226 shares of CNX Resources stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $20.83, for a total value of $25,537.58. Following the sale, the executive vice president now directly owns 67,982 shares of the company’s stock, valued at $1,416,065.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Mizuho raised their price objective on CNX Resources from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. Roth Mkm lifted their target price on CNX Resources from $18.00 to $22.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Truist Financial lifted their target price on CNX Resources from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Piper Sandler lifted their target price on CNX Resources from $18.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, April 19th. Finally, Scotiabank raised their price target on CNX Resources from $20.00 to $25.00 and gave the stock a “sector underperform” rating in a research note on Thursday, April 11th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $25.00.

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.