Connor Clark & Lunn Investment Management Ltd. Has $20.09 Million Position in CNX Resources Co. (NYSE:CNX)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of CNX Resources Co. (NYSE:CNX) by 311.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 616,734 shares of the oil and gas producer’s stock after purchasing an additional 466,694 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in CNX Resources were worth $20,087,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in CNX Resources by 54.1% during the second quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock worth $46,000 after buying an additional 666 shares in the last quarter. Blue Trust Inc. increased its stake in CNX Resources by 135.4% in the third quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer’s stock valued at $64,000 after acquiring an additional 1,131 shares during the period. CWM LLC raised its position in CNX Resources by 77.0% in the third quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock worth $70,000 after purchasing an additional 935 shares in the last quarter. Natixis bought a new position in CNX Resources during the first quarter worth about $79,000. Finally, Innealta Capital LLC acquired a new position in shares of CNX Resources in the 2nd quarter worth approximately $131,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

CNX Resources Stock Up 1.9 %

Shares of NYSE CNX opened at $40.12 on Thursday. The company has a current ratio of 0.37, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $5.99 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 1.85 and a beta of 1.37. The firm’s 50-day moving average is $34.45 and its 200-day moving average is $28.65. CNX Resources Co. has a 1 year low of $19.07 and a 1 year high of $40.17.

CNX Resources (NYSE:CNX) last issued its earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 EPS for the quarter, beating the consensus estimate of $0.32 by $0.09. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. The company had revenue of $424.21 million during the quarter, compared to analysts’ expectations of $398.33 million. During the same quarter in the previous year, the company posted $0.35 EPS. Equities analysts expect that CNX Resources Co. will post 1.53 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CNX shares. Scotiabank boosted their target price on shares of CNX Resources from $25.00 to $27.00 and gave the company a “sector underperform” rating in a research note on Tuesday, August 20th. Mizuho boosted their price target on shares of CNX Resources from $32.00 to $33.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. dropped their price objective on shares of CNX Resources from $32.00 to $31.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Tudor Pickering raised CNX Resources to a “strong sell” rating in a report on Tuesday, October 1st. Finally, Stephens raised their price target on CNX Resources from $26.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Six analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat, CNX Resources presently has an average rating of “Hold” and an average price target of $29.00.

Insider Buying and Selling at CNX Resources

In other news, Director Bernard Lanigan, Jr. purchased 75,000 shares of CNX Resources stock in a transaction dated Monday, September 9th. The shares were bought at an average cost of $26.81 per share, with a total value of $2,010,750.00. Following the completion of the transaction, the director now directly owns 401,820 shares in the company, valued at $10,772,794.20. This trade represents a 22.95 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.10% of the company’s stock.

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.