Edgestream Partners L.P. Buys 41,793 Shares of CNX Resources Co. (NYSE:CNX)

Edgestream Partners L.P. boosted its position in shares of CNX Resources Co. (NYSE:CNX) by 112.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 78,819 shares of the oil and gas producer’s stock after acquiring an additional 41,793 shares during the period. Edgestream Partners L.P. owned approximately 0.05% of CNX Resources worth $2,567,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in CNX Resources by 54.1% in the second quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock worth $46,000 after purchasing an additional 666 shares during the period. 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. Innealta Capital LLC bought a new position in CNX Resources during the second quarter worth about $131,000. Finally, Atomi Financial Group Inc. acquired a new stake in CNX Resources during the third quarter valued at approximately $202,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

CNX Resources Trading Down 2.6 %

Shares of NYSE CNX opened at $39.47 on Tuesday. CNX Resources Co. has a fifty-two week low of $19.07 and a fifty-two week high of $41.93. The firm has a market capitalization of $5.89 billion, a P/E ratio of 12.58, a P/E/G ratio of 1.96 and a beta of 1.37. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.37 and a quick ratio of 0.36. The company’s 50 day simple moving average is $36.09 and its 200 day simple moving average is $29.51.

CNX Resources (NYSE:CNX) last announced its quarterly earnings data on Thursday, October 24th. The oil and gas producer reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.09. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. The business had revenue of $424.21 million during the quarter, compared to analysts’ expectations of $398.33 million. During the same period in the previous year, the firm earned $0.35 earnings per share. On average, analysts predict that CNX Resources Co. will post 1.53 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on CNX. JPMorgan Chase & Co. decreased their price target on CNX Resources from $32.00 to $31.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. 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. Tudor, Pickering, Holt & Co. cut shares of CNX Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. BMO Capital Markets increased their price target on CNX Resources from $26.00 to $29.00 and gave the stock a “market perform” rating in a research report on Friday, October 4th. Finally, Scotiabank boosted their price objective on CNX Resources from $25.00 to $27.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, August 20th. Six equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $29.00.

Insider Activity at CNX Resources

In other news, Director Bernard Lanigan, Jr. bought 75,000 shares of the business’s stock in a transaction on Monday, September 9th. The shares were bought at an average cost of $26.81 per share, for a total transaction of $2,010,750.00. Following the completion of the acquisition, the director now owns 401,820 shares in the company, valued at approximately $10,772,794.20. This trade represents a 22.95 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.10% of the stock is currently owned by corporate insiders.

CNX Resources 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.