67,200 Shares in CNX Resources Co. (NYSE:CNX) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new stake in CNX Resources Co. (NYSE:CNX) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 67,200 shares of the oil and gas producer’s stock, valued at approximately $2,464,000.

Several other institutional investors have also recently bought and sold shares of CNX. Geode Capital Management LLC increased its stake in shares of CNX Resources by 0.3% in the third quarter. Geode Capital Management LLC now owns 3,602,837 shares of the oil and gas producer’s stock valued at $117,366,000 after buying an additional 12,333 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in CNX Resources by 7.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,000,464 shares of the oil and gas producer’s stock valued at $73,357,000 after acquiring an additional 139,647 shares in the last quarter. Assetmark Inc. raised its stake in shares of CNX Resources by 2.2% in the fourth quarter. Assetmark Inc. now owns 885,429 shares of the oil and gas producer’s stock worth $32,469,000 after acquiring an additional 19,309 shares during the last quarter. Aureus Asset Management LLC lifted its position in shares of CNX Resources by 0.6% during the third quarter. Aureus Asset Management LLC now owns 642,289 shares of the oil and gas producer’s stock worth $20,919,000 after purchasing an additional 3,659 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of CNX Resources by 0.9% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 622,503 shares of the oil and gas producer’s stock valued at $22,827,000 after purchasing an additional 5,769 shares during the last quarter. Institutional investors own 95.16% of the company’s stock.

Insider Activity at CNX Resources

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of CNX Resources stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $31.09, for a total value of $33,421,750.00. Following the transaction, the insider now owns 13,925,000 shares of the company’s stock, valued at approximately $432,928,250. The trade was a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.10% of the stock is owned by insiders.

CNX Resources Price Performance

Shares of CNX stock opened at $31.76 on Thursday. The company has a quick ratio of 0.32, a current ratio of 0.33 and a debt-to-equity ratio of 0.45. CNX Resources Co. has a 12-month low of $22.81 and a 12-month high of $41.93. The firm has a fifty day moving average of $29.79 and a 200-day moving average of $33.19. The firm has a market capitalization of $4.73 billion, a price-to-earnings ratio of -46.70, a price-to-earnings-growth ratio of 0.42 and a beta of 1.26.

CNX Resources (NYSE:CNX) last posted its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.14. CNX Resources had a positive return on equity of 6.72% and a negative net margin of 7.14%. On average, equities research analysts forecast that CNX Resources Co. will post 2.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CNX has been the topic of several research reports. Morgan Stanley set a $33.00 price objective on CNX Resources and gave the stock an “underweight” rating in a report on Wednesday. JPMorgan Chase & Co. raised their price target on CNX Resources from $32.00 to $33.00 and gave the company an “underweight” rating in a report on Thursday, March 13th. Truist Financial boosted their price objective on CNX Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Stephens raised shares of CNX Resources from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $35.00 to $48.00 in a research note on Tuesday, March 18th. Finally, Mizuho dropped their price target on shares of CNX Resources from $38.00 to $34.00 and set an “underperform” rating for the company in a research note on Tuesday, January 14th. Nine equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, CNX Resources has an average rating of “Hold” and a consensus price target of $30.69.

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.