BI Asset Management Fondsmaeglerselskab A S Invests $444,000 in CNX Resources Co. (NYSE:CNX)

BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of CNX Resources Co. (NYSE:CNX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 22,186 shares of the oil and gas producer’s stock, valued at approximately $444,000.

A number of other institutional investors have also modified their holdings of the stock. Teza Capital Management LLC boosted its stake in CNX Resources by 0.5% in the third quarter. Teza Capital Management LLC now owns 111,206 shares of the oil and gas producer’s stock valued at $2,511,000 after acquiring an additional 522 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in shares of CNX Resources by 30.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 2,540 shares of the oil and gas producer’s stock worth $57,000 after buying an additional 590 shares during the period. M&T Bank Corp lifted its stake in shares of CNX Resources by 10.5% during the fourth quarter. M&T Bank Corp now owns 10,657 shares of the oil and gas producer’s stock worth $214,000 after buying an additional 1,014 shares during the period. Neo Ivy Capital Management acquired a new stake in shares of CNX Resources during the third quarter worth $26,000. Finally, Wedge Capital Management L L P NC raised its holdings in shares of CNX Resources by 0.4% during the fourth quarter. Wedge Capital Management L L P NC now owns 290,261 shares of the oil and gas producer’s stock worth $5,805,000 after purchasing an additional 1,176 shares during the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Timothy Scott Bedard sold 1,226 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $20.83, for a total transaction of $25,537.58. Following the transaction, the executive vice president now directly owns 67,982 shares in the company, valued at $1,416,065.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.10% of the stock is currently owned by company insiders.

CNX Resources Stock Up 0.2 %

CNX stock opened at $24.61 on Friday. The stock has a market capitalization of $3.77 billion, a P/E ratio of 4.46 and a beta of 1.36. The firm has a 50-day simple moving average of $23.70 and a 200-day simple moving average of $21.61. The company has a quick ratio of 0.51, a current ratio of 0.53 and a debt-to-equity ratio of 0.45. CNX Resources Co. has a 52 week low of $15.08 and a 52 week high of $24.94.

CNX Resources (NYSE:CNX) last posted its quarterly earnings results on Thursday, April 25th. The oil and gas producer reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.09. The firm had revenue of $381.00 million for the quarter, compared to analyst estimates of $420.13 million. CNX Resources had a net margin of 40.44% and a return on equity of 7.68%. Equities analysts forecast that CNX Resources Co. will post 1.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on CNX shares. Mizuho raised their target price on shares of CNX Resources from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Roth Mkm lifted their price objective on shares of CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. Scotiabank lifted their price objective on shares of CNX Resources from $20.00 to $25.00 and gave the company a “sector underperform” rating in a report on Thursday, April 11th. Piper Sandler lifted their price objective on shares of CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, April 19th. Finally, Truist Financial lifted their price objective on shares of CNX Resources from $28.00 to $30.00 and gave the company a “buy” rating in a report on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $25.00.

CNX Resources Company 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.