Team Hewins LLC Purchases New Shares in CNX Resources Co. (NYSE:CNX)

Team Hewins LLC purchased a new stake in CNX Resources Co. (NYSE:CNX) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,202 shares of the oil and gas producer’s stock, valued at approximately $218,000.

A number of other institutional investors and hedge funds have also bought and sold shares of CNX. Riverwater Partners LLC increased its position in shares of CNX Resources by 1.0% during the 1st quarter. Riverwater Partners LLC now owns 65,673 shares of the oil and gas producer’s stock valued at $1,558,000 after purchasing an additional 676 shares during the last quarter. Congress Asset Management Co. MA grew its stake in shares of CNX Resources by 0.4% during the 4th quarter. Congress Asset Management Co. MA now owns 265,558 shares of the oil and gas producer’s stock worth $5,311,000 after acquiring an additional 945 shares during the period. M&T Bank Corp grew its stake in shares of CNX Resources by 10.5% during the 4th quarter. M&T Bank Corp now owns 10,657 shares of the oil and gas producer’s stock worth $214,000 after acquiring an additional 1,014 shares during the period. Hexagon Capital Partners LLC grew its stake in shares of CNX Resources by 113.4% during the 1st quarter. Hexagon Capital Partners LLC now owns 2,138 shares of the oil and gas producer’s stock worth $51,000 after acquiring an additional 1,136 shares during the period. Finally, Neo Ivy Capital Management bought a new position in CNX Resources in the 3rd quarter worth about $26,000. 95.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on CNX shares. Roth Mkm raised their target price on CNX Resources from $18.00 to $22.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Piper Sandler lifted their price objective on CNX Resources from $18.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, April 19th. Mizuho lifted their price target on CNX Resources from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. Truist Financial boosted 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. Finally, Scotiabank boosted 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 equities research 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.com, the stock currently has an average rating of “Hold” and an average price target of $25.00.

CNX Resources Stock Performance

CNX Resources stock traded up $0.38 during mid-day trading on Thursday, reaching $25.94. 1,780,835 shares of the stock traded hands, compared to its average volume of 2,765,139. The stock has a market capitalization of $3.98 billion, a PE ratio of 4.63 and a beta of 1.37. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.53 and a quick ratio of 0.51. CNX Resources Co. has a 12-month low of $17.45 and a 12-month high of $26.57. The business’s 50-day moving average is $24.66 and its 200-day moving average is $22.64.

CNX Resources (NYSE:CNX) last posted its quarterly earnings data on Thursday, April 25th. The oil and gas producer reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.09. The company had revenue of $381.00 million during the quarter, compared to analysts’ expectations of $420.13 million. CNX Resources had a return on equity of 7.68% and a net margin of 40.44%. As a group, sell-side analysts predict that CNX Resources Co. will post 1.32 EPS for the current fiscal year.

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.