Highlander Capital Management LLC increased its position in shares of CNX Resources Corp (NYSE:CNX) by 71.0% in the 1st quarter, Holdings Channel reports. The firm owned 59,250 shares of the oil and gas producer’s stock after acquiring an additional 24,600 shares during the period. Highlander Capital Management LLC’s holdings in CNX Resources were worth $874,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. TLP Group LLC raised its holdings in CNX Resources by 3,890.8% during the first quarter. TLP Group LLC now owns 33,523 shares of the oil and gas producer’s stock worth $517,000 after purchasing an additional 32,683 shares during the last quarter. Verition Fund Management LLC acquired a new position in CNX Resources during the first quarter worth $904,000. Sciencast Management LP acquired a new position in CNX Resources during the first quarter worth $174,000. Point72 Asia Hong Kong Ltd acquired a new position in CNX Resources during the first quarter worth $123,000. Finally, Cubist Systematic Strategies LLC raised its holdings in CNX Resources by 51.6% during the first quarter. Cubist Systematic Strategies LLC now owns 63,763 shares of the oil and gas producer’s stock worth $984,000 after purchasing an additional 21,708 shares during the last quarter. 96.10% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently issued reports on the company. Stifel Nicolaus assumed coverage on CNX Resources in a report on Tuesday, May 22nd. They set a “hold” rating and a $18.00 price objective for the company. ValuEngine raised CNX Resources from a “strong sell” rating to a “sell” rating in a report on Friday, May 4th. Zacks Investment Research raised CNX Resources from a “sell” rating to a “hold” rating in a report on Monday, March 12th. Finally, Tudor Pickering raised CNX Resources from a “hold” rating to a “buy” rating in a report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $21.50.
Shares of NYSE CNX traded up $0.05 during trading on Thursday, reaching $17.08. The company had a trading volume of 7,990 shares, compared to its average volume of 3,573,813. CNX Resources Corp has a twelve month low of $11.29 and a twelve month high of $18.08. The stock has a market cap of $3.72 billion, a price-to-earnings ratio of -106.44 and a beta of 1.27. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.44.
CNX Resources (NYSE:CNX) last released its quarterly earnings results on Thursday, May 3rd. The oil and gas producer reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.07. CNX Resources had a return on equity of 1.36% and a net margin of 37.74%. The company had revenue of $496.00 million during the quarter, compared to analysts’ expectations of $408.68 million. During the same period in the previous year, the firm posted $0.17 earnings per share. The business’s revenue for the quarter was up 55.0% compared to the same quarter last year. analysts anticipate that CNX Resources Corp will post 0.61 EPS for the current year.
About CNX Resources
CNX Resources Corporation, an independent oil and natural gas company, explores for, develops, and produces natural gas in the Appalachian Basin. As of December 31, 2017, it had 7.6 trillion cubic feet equivalent of proved natural gas reserves. The company also owns, operates, and develops natural gas gathering and other midstream energy assets in the Marcellus Shale in Pennsylvania and West Virginia.
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