Neo Ivy Capital Management Takes Position in CNX Resources Corporation. $CNX

Neo Ivy Capital Management bought a new stake in CNX Resources Corporation. (NYSE:CNX) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 112,642 shares of the oil and gas producer’s stock, valued at approximately $3,618,000. CNX Resources comprises about 0.9% of Neo Ivy Capital Management’s investment portfolio, making the stock its 17th biggest holding. Neo Ivy Capital Management owned approximately 0.08% of CNX Resources as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CNX. Crossmark Global Holdings Inc. grew its holdings in CNX Resources by 5.7% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 10,881 shares of the oil and gas producer’s stock valued at $349,000 after buying an additional 587 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of CNX Resources by 27.5% during the 3rd quarter. Victory Capital Management Inc. now owns 161,172 shares of the oil and gas producer’s stock worth $5,177,000 after acquiring an additional 34,750 shares during the period. American Century Companies Inc. lifted its holdings in shares of CNX Resources by 16.3% during the 3rd quarter. American Century Companies Inc. now owns 3,236,441 shares of the oil and gas producer’s stock worth $103,954,000 after acquiring an additional 454,071 shares during the period. Caitlin John LLC acquired a new stake in shares of CNX Resources in the third quarter worth approximately $31,000. Finally, Advisors Preferred LLC boosted its position in shares of CNX Resources by 99.5% in the third quarter. Advisors Preferred LLC now owns 45,378 shares of the oil and gas producer’s stock worth $1,524,000 after acquiring an additional 22,631 shares during the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

CNX Resources Stock Down 2.6%

CNX opened at $41.51 on Friday. CNX Resources Corporation. has a 1 year low of $27.68 and a 1 year high of $43.62. The firm has a 50 day moving average price of $38.27 and a 200 day moving average price of $35.40. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.41 and a current ratio of 0.44. The company has a market cap of $5.91 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 0.44 and a beta of 0.66.

CNX Resources (NYSE:CNX) last announced its quarterly earnings results on Thursday, January 29th. The oil and gas producer reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.94. CNX Resources had a net margin of 28.28% and a return on equity of 9.29%. The firm had revenue of $610.48 million for the quarter, compared to analysts’ expectations of $422.65 million. During the same period in the previous year, the company posted ($0.97) earnings per share. CNX Resources’s revenue was up 347.0% compared to the same quarter last year. Sell-side analysts expect that CNX Resources Corporation. will post 2.18 earnings per share for the current year.

Insider Buying and Selling at CNX Resources

In related news, Director Bernard Lanigan, Jr. sold 46,119 shares of CNX Resources stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $40.60, for a total transaction of $1,872,431.40. Following the transaction, the director owned 177,180 shares in the company, valued at approximately $7,193,508. The trade was a 20.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on CNX. Roth Mkm set a $35.00 price target on shares of CNX Resources and gave the stock a “neutral” rating in a research report on Thursday, January 29th. Barclays lifted their price target on shares of CNX Resources from $34.00 to $35.00 and gave the company an “underweight” rating in a report on Friday, January 30th. Zacks Research upgraded CNX Resources from a “strong sell” rating to a “hold” rating in a report on Friday, February 27th. Mizuho increased their target price on CNX Resources from $35.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Finally, JPMorgan Chase & Co. upgraded CNX Resources from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $36.00 to $38.00 in a report on Monday, December 8th. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $36.00.

CNX Resources Company Profile

CNX Resources Corporation is a natural gas and natural gas liquids producer with operations concentrated in the Appalachian Basin. Established as an independent, publicly traded entity in 2018 following its spinoff from Consol Energy, the company focuses on the exploration, development and production of hydrocarbon resources in the Marcellus and Utica shales across Pennsylvania, West Virginia and Ohio.

In addition to its upstream activities, CNX Resources has invested in midstream infrastructure through its subsidiary that gathers, processes and transports natural gas.