Edgestream Partners L.P. increased its stake in CNX Resources Co. (NYSE:CNX – Free Report) by 112.9% in the third quarter, Holdings Channel.com reports. The firm owned 78,819 shares of the oil and gas producer’s stock after purchasing an additional 41,793 shares during the quarter. Edgestream Partners L.P.’s holdings in CNX Resources were worth $2,567,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in shares of CNX Resources by 54.1% during the second quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock worth $46,000 after buying an additional 666 shares in the last quarter. Blue Trust Inc. grew its position 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 purchasing an additional 1,131 shares in the last quarter. CWM LLC increased its stake in CNX Resources by 77.0% in the 3rd quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock valued at $70,000 after buying an additional 935 shares during the last quarter. Innealta Capital LLC bought a new stake in CNX Resources during the 2nd quarter worth about $131,000. Finally, Atomi Financial Group Inc. acquired a new position in shares of CNX Resources during the 3rd quarter worth about $202,000. Institutional investors own 95.16% of the company’s stock.
CNX Resources Trading Down 2.6 %
Shares of NYSE CNX opened at $39.47 on Tuesday. The firm has a 50 day moving average price of $36.09 and a two-hundred day moving average price of $29.51. The stock has a market cap of $5.89 billion, a P/E ratio of 12.58, a price-to-earnings-growth ratio of 1.96 and a beta of 1.37. CNX Resources Co. has a 52-week low of $19.07 and a 52-week high of $41.93. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.37.
Analyst Ratings Changes
Several analysts recently issued reports on CNX shares. Bank of America assumed coverage on CNX Resources in a report on Monday, October 28th. They set an “underperform” rating and a $34.00 target price on the stock. Tudor Pickering upgraded CNX Resources to a “strong sell” rating in a research note on Tuesday, October 1st. Piper Sandler cut shares of CNX Resources from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $22.00 to $20.00 in a research note on Thursday, August 15th. Stephens upped their price target on shares of CNX Resources from $26.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of CNX Resources from $32.00 to $31.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Six research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $29.00.
Check Out Our Latest Report on CNX Resources
Insider Activity at CNX Resources
In other news, Director Bernard Lanigan, Jr. purchased 75,000 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were purchased at an average price of $26.81 per share, for a total transaction of $2,010,750.00. Following the transaction, the director now owns 401,820 shares of the company’s stock, valued at approximately $10,772,794.20. This trade represents a 22.95 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 3.10% of the stock is currently owned by company 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.
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