Assetmark Inc. Buys 19,309 Shares of CNX Resources Co. (NYSE:CNX)

Assetmark Inc. raised its stake in shares of CNX Resources Co. (NYSE:CNX) by 2.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 885,429 shares of the oil and gas producer’s stock after purchasing an additional 19,309 shares during the quarter. Assetmark Inc. owned 0.59% of CNX Resources worth $32,469,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Securities Inc. increased its holdings in shares of CNX Resources by 38.5% during the 4th quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer’s stock worth $91,000 after purchasing an additional 691 shares during the period. Blue Trust Inc. increased its stake in CNX Resources by 65.1% in the fourth quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer’s stock valued at $119,000 after acquiring an additional 1,280 shares during the period. Heck Capital Advisors LLC bought a new stake in CNX Resources in the fourth quarter valued at about $121,000. Longboard Asset Management LP bought a new stake in CNX Resources in the fourth quarter valued at about $212,000. Finally, Autumn Glory Partners LLC bought a new stake in CNX Resources in the fourth quarter valued at about $220,000. Institutional investors own 95.16% of the company’s stock.

Insider Buying and Selling at CNX Resources

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $432,928,250. This represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.10% of the company’s stock.

CNX Resources Trading Down 0.9 %

Shares of NYSE CNX opened at $29.66 on Thursday. The company’s 50 day simple moving average is $30.65 and its 200 day simple moving average is $32.84. CNX Resources Co. has a fifty-two week low of $21.00 and a fifty-two week high of $41.93. The firm has a market capitalization of $4.41 billion, a P/E ratio of -43.61, a P/E/G ratio of 0.42 and a beta of 1.38. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32.

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

Wall Street Analysts Forecast Growth

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

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.