SG Americas Securities LLC Increases Holdings in CNX Resources Corporation. $CNX

SG Americas Securities LLC raised its holdings in shares of CNX Resources Corporation. (NYSE:CNX) by 408.1% in the fourth quarter, HoldingsChannel reports. The firm owned 179,127 shares of the oil and gas producer’s stock after buying an additional 143,870 shares during the quarter. SG Americas Securities LLC’s holdings in CNX Resources were worth $6,586,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CNX. State of Wyoming purchased a new position in shares of CNX Resources during the second quarter valued at approximately $29,000. Caitlin John LLC purchased a new stake in CNX Resources in the third quarter worth $31,000. Elevation Point Wealth Partners LLC purchased a new stake in CNX Resources in the second quarter worth $46,000. EverSource Wealth Advisors LLC boosted its holdings in CNX Resources by 393.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,925 shares of the oil and gas producer’s stock valued at $65,000 after acquiring an additional 1,535 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its holdings in CNX Resources by 462.7% in the third quarter. Hantz Financial Services Inc. now owns 2,954 shares of the oil and gas producer’s stock valued at $95,000 after acquiring an additional 2,429 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

CNX Resources Trading Down 3.8%

CNX Resources stock opened at $38.48 on Wednesday. CNX Resources Corporation. has a 12 month low of $27.68 and a 12 month high of $43.62. The company has a market capitalization of $5.48 billion, a price-to-earnings ratio of 10.46, a price-to-earnings-growth ratio of 0.33 and a beta of 0.65. The business’s fifty day simple moving average is $39.78 and its two-hundred day simple moving average is $36.86. The company has a current ratio of 0.44, a quick ratio of 0.41 and a debt-to-equity ratio of 0.52.

CNX Resources (NYSE:CNX) last issued its quarterly earnings results on Thursday, January 29th. The oil and gas producer reported $1.28 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.94. The firm had revenue of $610.48 million during the quarter, compared to the consensus estimate of $422.65 million. CNX Resources had a return on equity of 9.29% and a net margin of 28.28%.The company’s revenue was up 347.0% on a year-over-year basis. During the same period last year, the company earned ($0.97) earnings per share. As a group, equities analysts predict that CNX Resources Corporation. will post 2.18 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on CNX. Zacks Research upgraded shares of CNX Resources from a “strong sell” rating to a “hold” rating in a report on Friday, February 27th. Scotiabank reaffirmed a “sector perform” rating and set a $44.00 target price on shares of CNX Resources in a research note on Wednesday, January 21st. Roth Mkm set a $35.00 price target on shares of CNX Resources and gave the stock a “neutral” rating in a research note on Thursday, January 29th. Mizuho raised their price objective on shares of CNX Resources from $35.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. Finally, Piper Sandler set a $26.00 price objective on shares of CNX Resources in a report on Monday, February 2nd. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $35.67.

Insider Transactions at CNX Resources

In other news, Director Maureen Lally-Green sold 23,631 shares of the stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $39.52, for a total transaction of $933,897.12. Following the sale, the director owned 169,577 shares in the company, valued at $6,701,683.04. This represents a 12.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Bernard Lanigan, Jr. sold 46,119 shares of CNX Resources stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $40.60, for a total value of $1,872,431.40. Following the completion of the sale, the director directly owned 177,180 shares of the company’s stock, valued at approximately $7,193,508. The trade was a 20.65% decrease in their position. The disclosure for this sale is available in the SEC filing. 4.59% of the stock is currently owned by company insiders.

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.