Quantbot Technologies LP Purchases Shares of 73,841 CNX Resources Co. (NYSE:CNX)

Quantbot Technologies LP purchased a new stake in CNX Resources Co. (NYSE:CNX) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 73,841 shares of the oil and gas producer’s stock, valued at approximately $2,708,000.

Other large investors also recently bought and sold shares of the company. Congress Asset Management Co. lifted its holdings in CNX Resources by 7.2% in the fourth quarter. Congress Asset Management Co. now owns 266,447 shares of the oil and gas producer’s stock valued at $9,771,000 after acquiring an additional 17,951 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of CNX Resources by 12.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,860,817 shares of the oil and gas producer’s stock worth $60,607,000 after buying an additional 202,890 shares during the period. World Investment Advisors LLC acquired a new position in shares of CNX Resources during the 3rd quarter worth approximately $534,000. Convergence Investment Partners LLC acquired a new position in shares of CNX Resources during the 4th quarter worth approximately $1,556,000. Finally, Assetmark Inc. raised its stake in shares of CNX Resources by 2.2% during the 4th quarter. Assetmark Inc. now owns 885,429 shares of the oil and gas producer’s stock worth $32,469,000 after buying an additional 19,309 shares during the period. 95.16% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at CNX Resources

In other news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $31.09, for a total value of $33,421,750.00. Following the transaction, the insider now owns 13,925,000 shares of the company’s stock, valued at $432,928,250. This represents a 7.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. TD Cowen assumed coverage on CNX Resources in a research note on Wednesday, January 15th. They set a “hold” rating and a $27.00 target price for the company. Piper Sandler reduced their target price on CNX Resources from $23.00 to $22.00 and set an “underweight” rating for the company in a research note on Wednesday, January 29th. Raymond James raised CNX Resources from an “underperform” rating to a “market perform” rating in a research note on Tuesday, February 18th. Truist Financial upped their target price on CNX Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Finally, StockNews.com downgraded CNX Resources from a “hold” rating to a “sell” rating in a research note on Thursday, February 13th. Nine equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $30.38.

CNX Resources Stock Down 0.7 %

Shares of NYSE:CNX opened at $31.79 on Friday. The company has a quick ratio of 0.32, a current ratio of 0.33 and a debt-to-equity ratio of 0.45. The business has a fifty day moving average of $29.71 and a two-hundred day moving average of $33.09. The stock has a market cap of $4.73 billion, a P/E ratio of -46.75, a PEG ratio of 0.42 and a beta of 1.26. CNX Resources Co. has a 52-week low of $22.80 and a 52-week high of $41.93.

CNX Resources (NYSE:CNX) last issued its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.14. CNX Resources had a positive return on equity of 6.72% and a negative net margin of 7.14%. On average, research analysts expect that CNX Resources Co. will post 2.18 earnings per share for the current 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.