Edgestream Partners L.P. Has $2.69 Million Stock Position in CNX Resources Co. (NYSE:CNX)

Edgestream Partners L.P. reduced its position in CNX Resources Co. (NYSE:CNX) by 26.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 113,420 shares of the oil and gas producer’s stock after selling 40,726 shares during the period. Edgestream Partners L.P.’s holdings in CNX Resources were worth $2,690,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CNX. Midwest Professional Planners LTD. acquired a new position in CNX Resources in the first quarter worth approximately $222,000. State Board of Administration of Florida Retirement System raised its holdings in shares of CNX Resources by 35.0% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 62,847 shares of the oil and gas producer’s stock valued at $1,491,000 after purchasing an additional 16,290 shares in the last quarter. Entropy Technologies LP acquired a new stake in shares of CNX Resources in the 1st quarter valued at $1,046,000. ProShare Advisors LLC boosted its holdings in CNX Resources by 3.7% in the first quarter. ProShare Advisors LLC now owns 35,570 shares of the oil and gas producer’s stock worth $844,000 after purchasing an additional 1,268 shares in the last quarter. Finally, Avantax Advisory Services Inc. acquired a new position in CNX Resources during the first quarter worth $278,000. 95.16% of the stock is owned by hedge funds and other institutional investors.

CNX Resources Stock Down 0.4 %

Shares of NYSE:CNX traded down $0.11 during mid-day trading on Tuesday, reaching $25.72. 350,022 shares of the stock were exchanged, compared to its average volume of 2,758,119. The company has a market cap of $3.94 billion, a P/E ratio of 4.68 and a beta of 1.38. The stock’s 50 day simple moving average is $25.06 and its 200-day simple moving average is $22.97. The company has a quick ratio of 0.51, a current ratio of 0.53 and a debt-to-equity ratio of 0.45. CNX Resources Co. has a one year low of $18.17 and a one year high of $26.60.

CNX Resources (NYSE:CNX) last announced its quarterly earnings data on Thursday, April 25th. The oil and gas producer reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.09. The company had revenue of $381.00 million during the quarter, compared to analysts’ expectations of $420.13 million. CNX Resources had a return on equity of 7.68% and a net margin of 40.44%. As a group, equities research analysts predict that CNX Resources Co. will post 1.36 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Roth Mkm raised their target price on shares of CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Mizuho upped their price objective on CNX Resources from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Scotiabank lifted their price target on shares of CNX Resources from $20.00 to $25.00 and gave the stock a “sector underperform” rating in a research report on Thursday, April 11th. Piper Sandler upped their price objective on CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, April 19th. Finally, Stephens reiterated an “equal weight” rating and issued a $27.00 target price on shares of CNX Resources in a report on Monday, July 15th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $25.57.

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.