Buckingham Strategic Wealth LLC bought a new position in CNX Resources Co. (NYSE:CNX – Get Rating) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 29,922 shares of the oil and gas producer’s stock, valued at approximately $465,000.
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Other large investors have also bought and sold shares of the company. Private Trust Co. NA purchased a new stake in CNX Resources in the second quarter worth $26,000. First Horizon Advisors Inc. purchased a new position in shares of CNX Resources in the second quarter valued at $41,000. Sentry Investment Management LLC purchased a new position in shares of CNX Resources in the third quarter valued at $43,000. Gladius Capital Management LP purchased a new position in shares of CNX Resources in the second quarter valued at $49,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of CNX Resources by 128.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,854 shares of the oil and gas producer’s stock valued at $80,000 after purchasing an additional 2,728 shares in the last quarter. 93.66% of the stock is owned by hedge funds and other institutional investors.
CNX Resources Stock Performance
Shares of CNX stock opened at $16.25 on Thursday. The company has a quick ratio of 0.42, a current ratio of 0.44 and a debt-to-equity ratio of 0.75. The business has a 50-day moving average price of $16.57 and a two-hundred day moving average price of $17.03. CNX Resources Co. has a 12-month low of $14.55 and a 12-month high of $24.21.
CNX Resources (NYSE:CNX – Get Rating) last issued its quarterly earnings results on Thursday, January 26th. The oil and gas producer reported $5.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 at $5.11. CNX Resources had a positive return on equity of 21.25% and a negative net margin of 5.36%. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $510.19 million. During the same quarter in the previous year, the company posted $0.31 earnings per share. The company’s revenue was up 26.8% compared to the same quarter last year. Research analysts predict that CNX Resources Co. will post 2.4 earnings per share for the current year.
Analysts Set New Price Targets
CNX has been the subject of several recent research reports. Truist Financial reduced their price target on CNX Resources from $20.00 to $18.00 and set a “hold” rating for the company in a research report on Friday, October 28th. StockNews.com upgraded CNX Resources from a “hold” rating to a “buy” rating in a research report on Monday. Piper Sandler reduced their target price on CNX Resources to $19.00 in a research report on Friday, November 4th. Finally, Mizuho assumed coverage on CNX Resources in a research report on Monday, January 9th. They set an “underperform” rating and a $19.00 target price for the company. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $21.86.
About CNX Resources
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CNX Resources Corp. is an independent natural gas exploration, development and production company, with operations centered in the major shale formations of the Appalachian basin. The company deploys an organic growth strategy focused on responsibly developing its resource base. The firm operates through the Marcellus Shale, and Coalbed Methane segments.
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