SummerHaven Investment Management LLC Purchases New Shares in CNX Resources Corporation. $CNX

SummerHaven Investment Management LLC acquired a new stake in CNX Resources Corporation. (NYSE:CNX) in the third quarter, HoldingsChannel.com reports. The firm acquired 29,759 shares of the oil and gas producer’s stock, valued at approximately $969,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caitlin John LLC acquired a new stake in shares of CNX Resources in the second quarter valued at approximately $33,000. Integrated Wealth Concepts LLC purchased a new position in shares of CNX Resources during the second quarter worth approximately $61,000. IFP Advisors Inc increased its holdings in shares of CNX Resources by 604.0% in the 2nd quarter. IFP Advisors Inc now owns 2,619 shares of the oil and gas producer’s stock valued at $89,000 after acquiring an additional 2,247 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in shares of CNX Resources in the 2nd quarter valued at $93,000. Finally, Transamerica Financial Advisors LLC acquired a new position in shares of CNX Resources in the 2nd quarter valued at $94,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

CNX Resources Stock Up 3.7%

CNX opened at $35.91 on Friday. CNX Resources Corporation. has a 52 week low of $30.77 and a 52 week high of $43.62. The business has a 50 day moving average price of $34.90 and a two-hundred day moving average price of $35.24. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 0.46. The company has a market cap of $5.31 billion, a PE ratio of 6.00 and a beta of 0.69.

CNX Resources (NYSE:CNX) last announced its earnings results on Thursday, July 30th. The oil and gas producer reported $1.32 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.72. CNX Resources had a return on equity of 10.40% and a net margin of 36.53%. The company had revenue of $618.48 million for the quarter, compared to the consensus estimate of $475.16 million. During the same period last year, the business posted $2.43 EPS. The company’s revenue was down 35.7% on a year-over-year basis. As a group, research analysts anticipate that CNX Resources Corporation. will post 3.12 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Weiss Ratings downgraded shares of CNX Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, July 28th. Truist Financial lowered their price objective on shares of CNX Resources from $35.00 to $34.00 and set a “hold” rating on the stock in a research report on Friday. Morgan Stanley raised their price objective on shares of CNX Resources from $32.00 to $34.00 and gave the stock an “underweight” rating in a research report on Thursday. Mizuho dropped their price objective on shares of CNX Resources from $42.00 to $38.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Scotiabank assumed coverage on shares of CNX Resources in a report on Wednesday. They issued a “sector perform” rating and a $34.00 target price for the company. Eight analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, CNX Resources presently has an average rating of “Reduce” and an average target price of $34.25.

About CNX Resources

CNX Resources Corporation (NYSE: CNX) is an independent natural gas exploration and production company focused primarily on developing unconventional natural gas reserves in the Appalachian Basin. Its operations are concentrated in the Marcellus and Utica shale formations, where it uses horizontal drilling and hydraulic fracturing to produce pipeline-quality natural gas.

The company’s activities include acquiring, developing and operating natural gas properties, as well as managing related gathering and infrastructure assets.