Aequim Alternative Investments LP Has $79.40 Million Holdings in CNX Resources Co. (NYSE:CNX)

Aequim Alternative Investments LP reduced its position in CNX Resources Co. (NYSE:CNX) by 13.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,437,927 shares of the oil and gas producer’s stock after selling 369,900 shares during the quarter. CNX Resources comprises about 2.8% of Aequim Alternative Investments LP’s portfolio, making the stock its 9th largest position. Aequim Alternative Investments LP owned about 1.63% of CNX Resources worth $79,403,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. 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 acquiring an additional 1,131 shares during the last quarter. CWM LLC grew its holdings in shares of CNX Resources by 77.0% during the 3rd quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock valued at $70,000 after purchasing an additional 935 shares during the last quarter. GAMMA Investing LLC lifted its stake in CNX Resources by 62.1% in the 3rd quarter. GAMMA Investing LLC now owns 3,073 shares of the oil and gas producer’s stock valued at $100,000 after purchasing an additional 1,177 shares during the last quarter. Innealta Capital LLC acquired a new stake in CNX Resources in the second quarter valued at approximately $131,000. Finally, Atomi Financial Group Inc. bought a new stake in shares of CNX Resources during the third quarter worth $202,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on CNX. BMO Capital Markets raised their price objective on CNX Resources from $26.00 to $29.00 and gave the company a “market perform” rating in a report on Friday, October 4th. Mizuho raised their price target on shares of CNX Resources from $32.00 to $33.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Stephens lifted their price target on shares of CNX Resources from $26.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Truist Financial increased their price objective on CNX Resources from $34.00 to $35.00 and gave the company a “hold” rating in a report on Friday. Finally, Tudor, Pickering, Holt & Co. downgraded CNX Resources from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. Seven analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $30.00.

CNX Resources Trading Down 0.2 %

CNX opened at $36.75 on Tuesday. CNX Resources Co. has a 1-year low of $19.07 and a 1-year high of $41.93. The company has a market cap of $5.49 billion, a P/E ratio of 11.56, a price-to-earnings-growth ratio of 1.78 and a beta of 1.43. The company has a fifty day moving average price of $36.92 and a two-hundred day moving average price of $30.09. The company has a current ratio of 0.37, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46.

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, beating 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 firm had revenue of $424.21 million during the quarter, compared to analysts’ expectations of $398.33 million. During the same quarter last year, the firm posted $0.35 earnings per share. Analysts predict that CNX Resources Co. will post 1.53 EPS for the current fiscal year.

About CNX Resources

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.