CNX Resources Co. (NYSE:CNX) is Riverwater Partners LLC’s 4th Largest Position

Riverwater Partners LLC boosted its holdings in shares of CNX Resources Co. (NYSE:CNX) by 124.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 146,363 shares of the oil and gas producer’s stock after purchasing an additional 81,092 shares during the quarter. CNX Resources makes up approximately 2.4% of Riverwater Partners LLC’s portfolio, making the stock its 4th biggest holding. Riverwater Partners LLC’s holdings in CNX Resources were worth $4,839,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CNX. Gateway Investment Advisers LLC bought a new stake in shares of CNX Resources in the 1st quarter worth about $231,000. Hexagon Capital Partners LLC increased its holdings in CNX Resources by 113.4% in the first quarter. Hexagon Capital Partners LLC now owns 2,138 shares of the oil and gas producer’s stock valued at $51,000 after buying an additional 1,136 shares during the last quarter. AlphaMark Advisors LLC raised its stake in CNX Resources by 36.7% during the first quarter. AlphaMark Advisors LLC now owns 15,225 shares of the oil and gas producer’s stock valued at $361,000 after buying an additional 4,091 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in CNX Resources by 243.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 72,656 shares of the oil and gas producer’s stock valued at $1,723,000 after buying an additional 51,490 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in CNX Resources by 11.2% during the 1st quarter. Principal Financial Group Inc. now owns 659,497 shares of the oil and gas producer’s stock worth $15,643,000 after buying an additional 66,528 shares during the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CNX shares. Scotiabank boosted their price target on CNX Resources from $25.00 to $27.00 and gave the company a “sector underperform” rating in a report on Tuesday, August 20th. Mizuho boosted their target price on shares of CNX Resources from $32.00 to $33.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. StockNews.com downgraded shares of CNX Resources from a “hold” rating to a “sell” rating in a research report on Saturday, August 3rd. BMO Capital Markets boosted their price objective on shares of CNX Resources from $26.00 to $29.00 and gave the company a “market perform” rating in a research report on Friday, October 4th. Finally, JPMorgan Chase & Co. raised their target price on shares of CNX Resources from $26.00 to $27.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $27.10.

Insider Buying and Selling

In other news, Director Bernard Lanigan, Jr. acquired 75,000 shares of CNX Resources stock in a transaction on Monday, September 9th. The stock was bought at an average cost of $26.81 per share, with a total value of $2,010,750.00. Following the completion of the purchase, the director now owns 401,820 shares of the company’s stock, valued at $10,772,794.20. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.10% of the stock is currently owned by company insiders.

CNX Resources Price Performance

NYSE CNX opened at $35.85 on Thursday. CNX Resources Co. has a 1 year low of $19.07 and a 1 year high of $36.96. The business’s fifty day moving average is $30.48 and its two-hundred day moving average is $26.80. The stock has a market capitalization of $5.49 billion, a P/E ratio of 6.49 and a beta of 1.38. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.40 and a current ratio of 0.41.

CNX Resources (NYSE:CNX) last announced its earnings results on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.09. CNX Resources had a return on equity of 7.51% and a net margin of 26.64%. The company had revenue of $321.44 million for the quarter, compared to analyst estimates of $387.46 million. During the same period in the previous year, the firm earned $0.29 earnings per share. On average, research analysts forecast that CNX Resources Co. will post 1.43 earnings per share for the current fiscal year.

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.