Geode Capital Management LLC Buys 12,333 Shares of CNX Resources Co. (NYSE:CNX)

Geode Capital Management LLC boosted its stake in shares of CNX Resources Co. (NYSE:CNX) by 0.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,602,837 shares of the oil and gas producer’s stock after buying an additional 12,333 shares during the period. Geode Capital Management LLC’s holdings in CNX Resources were worth $117,366,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CNX. M&T Bank Corp raised its position in shares of CNX Resources by 25.4% in the 3rd quarter. M&T Bank Corp now owns 18,057 shares of the oil and gas producer’s stock worth $588,000 after purchasing an additional 3,663 shares during the last quarter. Hodges Capital Management Inc. purchased a new position in CNX Resources in the third quarter worth about $212,000. XTX Topco Ltd bought a new position in shares of CNX Resources in the third quarter worth approximately $804,000. iSAM Funds UK Ltd purchased a new stake in shares of CNX Resources during the third quarter valued at approximately $564,000. Finally, Weiss Asset Management LP bought a new stake in shares of CNX Resources during the third quarter valued at approximately $476,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CNX shares. Scotiabank upped their price objective on CNX Resources from $25.00 to $27.00 and gave the company a “sector underperform” rating in a research report on Tuesday, August 20th. Tudor, Pickering, Holt & Co. cut CNX Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Piper Sandler boosted their target price on CNX Resources from $20.00 to $23.00 and gave the stock an “underweight” rating in a research report on Friday, December 6th. Truist Financial lifted their price target on shares of CNX Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Finally, BMO Capital Markets increased 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. Eight analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $30.50.

CNX Resources Stock Down 1.0 %

CNX opened at $36.53 on Wednesday. CNX Resources Co. has a 1-year low of $19.07 and a 1-year high of $41.93. The firm’s 50 day simple moving average is $37.36 and its two-hundred day simple moving average is $30.60. The company has a current ratio of 0.37, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $5.45 billion, a PE ratio of 11.49, a PEG ratio of 1.85 and a beta of 1.43.

CNX Resources (NYSE:CNX) last released its earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.09. The company had revenue of $424.21 million for the quarter, compared to the consensus estimate of $398.33 million. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. During the same period in the previous year, the business earned $0.35 earnings per share. As a group, equities analysts forecast that CNX Resources Co. will post 1.54 EPS for the current year.

CNX Resources 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.