Oberweis Asset Management Inc. increased its holdings in shares of CNX Resources Corp (NYSE:CNX) by 2.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,066 shares of the oil and gas producer’s stock after purchasing an additional 1,270 shares during the period. Oberweis Asset Management Inc.’s holdings in CNX Resources were worth $549,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its stake in CNX Resources by 3.3% during the third quarter. Bank of New York Mellon Corp now owns 3,232,922 shares of the oil and gas producer’s stock worth $46,263,000 after purchasing an additional 103,196 shares during the period. Morgan Stanley grew its stake in CNX Resources by 97.0% during the third quarter. Morgan Stanley now owns 1,623,046 shares of the oil and gas producer’s stock worth $23,225,000 after purchasing an additional 799,145 shares during the period. Quantamental Technologies LLC acquired a new stake in CNX Resources during the fourth quarter worth approximately $175,000. Paloma Partners Management Co grew its stake in CNX Resources by 105.5% during the third quarter. Paloma Partners Management Co now owns 585,527 shares of the oil and gas producer’s stock worth $8,379,000 after purchasing an additional 300,612 shares during the period. Finally, Prudential Financial Inc. grew its stake in CNX Resources by 4.9% in the fourth quarter. Prudential Financial Inc. now owns 2,300,835 shares of the oil and gas producer’s stock valued at $26,275,000 after acquiring an additional 107,412 shares during the period. 99.20% of the stock is owned by institutional investors and hedge funds.
CNX has been the subject of a number of research reports. MKM Partners initiated coverage on CNX Resources in a research note on Wednesday, December 5th. They issued a “buy” rating and a $19.00 price objective for the company. Zacks Investment Research raised CNX Resources from a “hold” rating to a “strong-buy” rating and set a $13.00 price objective for the company in a research note on Wednesday, January 2nd. ValuEngine raised CNX Resources from a “strong sell” rating to a “sell” rating in a research note on Monday, January 7th. Tudor Pickering cut CNX Resources from a “buy” rating to a “hold” rating in a research note on Friday, February 1st. Finally, Susquehanna Bancshares set a $11.00 price objective on CNX Resources and gave the company a “hold” rating in a research note on Saturday, February 2nd. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. CNX Resources currently has an average rating of “Hold” and an average price target of $15.00.
CNX Resources (NYSE:CNX) last announced its earnings results on Thursday, January 31st. The oil and gas producer reported $0.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.39. The company had revenue of $435.46 million for the quarter, compared to analysts’ expectations of $436.26 million. CNX Resources had a return on equity of 5.91% and a net margin of 46.03%. During the same quarter in the previous year, the firm earned ($0.23) earnings per share. As a group, research analysts predict that CNX Resources Corp will post 0.61 EPS for the current year.
In related news, Director Bernard Lanigan, Jr. bought 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 19th. The shares were bought at an average price of $11.95 per share, with a total value of $1,195,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.00% of the stock is owned by insiders.
CNX Resources Profile
CNX Resources Corporation, an independent oil and gas company, explores for, develops, and produces natural gas primarily in the Appalachian Basin. The company operates through two divisions, Exploration and Production (E&P), and Midstream. The E&P division produces pipeline quality natural gas primarily to gas wholesalers.
Further Reading: SEC Filing
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