CNX Resources Co. (NYSE:CNX) Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. increased its stake in CNX Resources Co. (NYSE:CNX) by 3.7% in the fourth quarter, Holdings Channel reports. The firm owned 200,732 shares of the oil and gas producer’s stock after purchasing an additional 7,086 shares during the period. QRG Capital Management Inc.’s holdings in CNX Resources were worth $7,361,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Private Advisor Group LLC acquired a new stake in CNX Resources during the 3rd quarter valued at approximately $222,000. International Assets Investment Management LLC purchased a new position in shares of CNX Resources during the third quarter worth $326,000. State of Alaska Department of Revenue lifted its position in CNX Resources by 7.2% during the third quarter. State of Alaska Department of Revenue now owns 17,662 shares of the oil and gas producer’s stock valued at $575,000 after purchasing an additional 1,190 shares during the period. Forum Financial Management LP purchased a new stake in CNX Resources in the third quarter valued at $220,000. Finally, Pittenger & Anderson Inc. grew its position in CNX Resources by 488.4% during the 3rd quarter. Pittenger & Anderson Inc. now owns 25,095 shares of the oil and gas producer’s stock worth $817,000 after purchasing an additional 20,830 shares during the period. 95.16% of the stock is currently owned by institutional investors and hedge funds.

CNX Resources Trading Up 0.9 %

Shares of CNX Resources stock opened at $28.91 on Friday. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 0.45. CNX Resources Co. has a twelve month low of $20.76 and a twelve month high of $41.93. The firm has a market capitalization of $4.30 billion, a PE ratio of -42.51, a P/E/G ratio of 0.42 and a beta of 1.38. The firm’s 50-day moving average price is $30.94 and its 200 day moving average price is $32.72.

CNX Resources (NYSE:CNX) last released its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.14. CNX Resources had a positive return on equity of 6.72% and a negative net margin of 7.14%. On average, sell-side analysts predict that CNX Resources Co. will post 2.18 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. StockNews.com cut CNX Resources from a “hold” rating to a “sell” rating in a report on Thursday, February 13th. Piper Sandler decreased their price target on CNX Resources from $23.00 to $22.00 and set an “underweight” rating for the company in a report on Wednesday, January 29th. Raymond James raised shares of CNX Resources from an “underperform” rating to a “market perform” rating in a research note on Tuesday, February 18th. Roth Capital set a $30.00 target price on shares of CNX Resources in a research note on Thursday, January 23rd. Finally, Truist Financial increased their price target on shares of CNX Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Nine investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat.com, CNX Resources has an average rating of “Reduce” and an average price target of $29.69.

Insider Buying and Selling at CNX Resources

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $31.09, for a total value of $33,421,750.00. Following the completion of the sale, the insider now owns 13,925,000 shares in the company, valued at approximately $432,928,250. This represents a 7.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.10% of the stock is currently owned by 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.