QRG Capital Management Inc. Boosts Stake in CNX Resources Co. (NYSE:CNX)

QRG Capital Management Inc. raised its position in CNX Resources Co. (NYSE:CNX) by 1.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 193,646 shares of the oil and gas producer’s stock after purchasing an additional 3,148 shares during the period. QRG Capital Management Inc.’s holdings in CNX Resources were worth $6,307,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Duality Advisers LP boosted its position in CNX Resources by 61.1% in the 1st quarter. Duality Advisers LP now owns 131,196 shares of the oil and gas producer’s stock valued at $3,112,000 after buying an additional 49,741 shares during the last quarter. Boston Partners acquired a new stake in shares of CNX Resources in the 1st quarter valued at about $951,000. Caxton Associates LP acquired a new stake in CNX Resources during the first quarter worth about $710,000. Bridges Investment Management Inc. acquired a new stake in CNX Resources during the second quarter worth about $916,000. Finally, Paralel Advisors LLC acquired a new stake in CNX Resources during the second quarter worth about $2,338,000. 95.16% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other CNX Resources news, Director Bernard Lanigan, Jr. bought 75,000 shares of CNX Resources stock in a transaction that occurred on Monday, September 9th. The stock was purchased at an average cost of $26.81 per share, for a total transaction of $2,010,750.00. Following the completion of the acquisition, the director now owns 401,820 shares of the company’s stock, valued at approximately $10,772,794.20. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.65% of the stock is currently owned by insiders.

CNX Resources Trading Up 1.9 %

CNX Resources stock opened at $35.38 on Wednesday. The firm has a 50 day simple moving average of $31.79 and a 200-day simple moving average of $27.44. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.37 and a quick ratio of 0.36. The stock has a market capitalization of $5.28 billion, a PE ratio of 11.12, a price-to-earnings-growth ratio of 1.67 and a beta of 1.37. CNX Resources Co. has a 12-month low of $19.07 and a 12-month high of $37.57.

CNX Resources (NYSE:CNX) last issued its earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.09. The firm had revenue of $424.21 million during the quarter, compared to analysts’ expectations of $398.33 million. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. During the same period last year, the firm posted $0.35 earnings per share. As a group, equities research analysts expect that CNX Resources Co. will post 1.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CNX. Mizuho increased their price objective on shares of CNX Resources from $32.00 to $33.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Tudor, Pickering, Holt & Co. lowered shares of CNX Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. Bank of America began coverage on shares of CNX Resources in a research note on Monday, October 28th. They set an “underperform” rating and a $34.00 price objective on the stock. Tudor Pickering upgraded shares of CNX Resources to a “strong sell” rating in a research note on Tuesday, October 1st. Finally, Capital One Financial lowered shares of CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 price objective on the stock. in a research note on Monday, October 14th. Six research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $29.00.

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.