6,923 Shares in CNX Resources Co. (NYSE:CNX) Bought by Avalon Capital Management

Avalon Capital Management acquired a new stake in shares of CNX Resources Co. (NYSE:CNX) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 6,923 shares of the oil and gas producer’s stock, valued at approximately $254,000.

Other hedge funds also recently added to or reduced their stakes in the company. Congress Asset Management Co. grew its stake in CNX Resources by 7.2% in the 4th quarter. Congress Asset Management Co. now owns 266,447 shares of the oil and gas producer’s stock valued at $9,771,000 after acquiring an additional 17,951 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of CNX Resources by 12.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,860,817 shares of the oil and gas producer’s stock valued at $60,607,000 after purchasing an additional 202,890 shares during the period. World Investment Advisors LLC acquired a new stake in CNX Resources during the third quarter worth $534,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of CNX Resources by 311.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 616,734 shares of the oil and gas producer’s stock worth $20,087,000 after purchasing an additional 466,694 shares during the period. Finally, Convergence Investment Partners LLC purchased a new stake in shares of CNX Resources in the 4th quarter valued at approximately $1,556,000. 95.16% of the stock is owned by hedge funds and other institutional investors.

CNX Resources Stock Up 1.4 %

CNX stock opened at $29.91 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32. The stock has a market capitalization of $4.45 billion, a P/E ratio of -43.99, a P/E/G ratio of 0.42 and a beta of 1.38. CNX Resources Co. has a fifty-two week low of $20.45 and a fifty-two week high of $41.93. The business has a 50-day moving average of $31.45 and a 200-day moving average of $32.72.

CNX Resources (NYSE:CNX) last posted its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, sell-side analysts anticipate that CNX Resources Co. will post 2.18 earnings per share for the current fiscal year.

Insider Activity at CNX Resources

In other 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 stock was sold at an average price of $31.09, for a total transaction of $33,421,750.00. Following the sale, the insider now owns 13,925,000 shares in the company, valued at $432,928,250. This represents a 7.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 3.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

CNX has been the subject of several recent research reports. Mizuho decreased their price objective on CNX Resources from $38.00 to $34.00 and set an “underperform” rating for the company in a research note on Tuesday, January 14th. Bank of America initiated coverage on shares of CNX Resources in a research report on Monday, October 28th. They set an “underperform” rating and a $34.00 target price for the company. TD Cowen started coverage on CNX Resources in a report on Wednesday, January 15th. They issued a “hold” rating and a $27.00 price target for the company. Roth Capital set a $30.00 price objective on shares of CNX Resources in a research note on Thursday, January 23rd. Finally, Raymond James upgraded shares of CNX Resources from an “underperform” rating to a “market perform” rating in a research note on Tuesday, February 18th. Nine research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat, the company presently has a consensus 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.