Clearbridge Investments LLC Has $11.49 Million Stock Position in CNX Resources Co. (NYSE:CNX)

Clearbridge Investments LLC raised its holdings in CNX Resources Co. (NYSE:CNX) by 0.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 574,564 shares of the oil and gas producer’s stock after buying an additional 1,153 shares during the quarter. Clearbridge Investments LLC owned 0.36% of CNX Resources worth $11,491,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Invesco Ltd. raised its position in shares of CNX Resources by 11.7% in the 3rd quarter. Invesco Ltd. now owns 3,587,664 shares of the oil and gas producer’s stock valued at $81,009,000 after acquiring an additional 376,245 shares during the period. American Century Companies Inc. increased its position in CNX Resources by 11.2% during the 3rd quarter. American Century Companies Inc. now owns 2,154,145 shares of the oil and gas producer’s stock worth $48,641,000 after buying an additional 217,753 shares during the period. LSV Asset Management increased its position in shares of CNX Resources by 223.4% in the fourth quarter. LSV Asset Management now owns 1,489,353 shares of the oil and gas producer’s stock worth $29,787,000 after purchasing an additional 1,028,805 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of CNX Resources by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,455,350 shares of the oil and gas producer’s stock worth $29,107,000 after purchasing an additional 9,356 shares during the period. Finally, Brandywine Global Investment Management LLC boosted its stake in CNX Resources by 5.1% in the third quarter. Brandywine Global Investment Management LLC now owns 927,237 shares of the oil and gas producer’s stock valued at $20,937,000 after buying an additional 44,690 shares in the last quarter. Institutional investors own 95.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Piper Sandler lifted their target price on CNX Resources from $18.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, April 19th. Roth Mkm boosted their price objective on CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Truist Financial increased their price objective on CNX Resources from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Mizuho upped their target price on CNX Resources from $25.00 to $29.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. Finally, Scotiabank boosted their price target on CNX Resources from $20.00 to $25.00 and gave the company a “sector underperform” rating in a report on Thursday, April 11th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, CNX Resources currently has an average rating of “Hold” and an average price target of $25.00.

Insider Activity

In related news, EVP Timothy Scott Bedard sold 1,226 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $20.83, for a total transaction of $25,537.58. Following the completion of the sale, the executive vice president now owns 67,982 shares of the company’s stock, valued at $1,416,065.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.10% of the company’s stock.

CNX Resources Stock Performance

Shares of NYSE CNX traded up $0.22 during midday trading on Friday, hitting $24.83. The company’s stock had a trading volume of 1,751,547 shares, compared to its average volume of 2,331,444. CNX Resources Co. has a 1-year low of $15.08 and a 1-year high of $24.94. The firm’s fifty day moving average price is $23.77 and its 200-day moving average price is $21.63. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.51 and a current ratio of 0.53. The firm has a market cap of $3.80 billion, a P/E ratio of 4.50 and a beta of 1.36.

CNX Resources (NYSE:CNX) last announced its quarterly earnings data on Thursday, April 25th. The oil and gas producer reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.09. The firm had revenue of $381.00 million for the quarter, compared to the consensus estimate of $420.13 million. CNX Resources had a net margin of 40.44% and a return on equity of 7.68%. On average, sell-side analysts forecast that CNX Resources Co. will post 1.39 EPS for the current fiscal year.

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.