Jacobs Levy Equity Management Inc. Buys New Shares in CNX Resources Co. (NYSE:CNX)

Jacobs Levy Equity Management Inc. bought a new stake in shares of CNX Resources Co. (NYSE:CNX) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 6,416 shares of the oil and gas producer’s stock, valued at approximately $209,000.

A number of other institutional investors also recently modified their holdings of CNX. Blue Trust Inc. lifted its position in shares of CNX Resources by 135.4% during the 3rd quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer’s stock valued at $64,000 after acquiring an additional 1,131 shares during the period. CWM LLC increased its stake in CNX Resources by 77.0% during the 3rd quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock valued at $70,000 after purchasing an additional 935 shares in the last quarter. GAMMA Investing LLC increased its stake in CNX Resources by 62.1% during the 3rd quarter. GAMMA Investing LLC now owns 3,073 shares of the oil and gas producer’s stock valued at $100,000 after purchasing an additional 1,177 shares in the last quarter. Innealta Capital LLC bought a new stake in CNX Resources during the 2nd quarter valued at $131,000. Finally, Atomi Financial Group Inc. bought a new stake in CNX Resources during the 3rd quarter valued at $202,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on CNX. Scotiabank boosted their price target on shares of CNX Resources from $25.00 to $27.00 and gave the company a “sector underperform” rating in a research note on Tuesday, August 20th. Tudor, Pickering, Holt & Co. lowered shares of CNX Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. Capital One Financial lowered shares of CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 price target for the company. in a research note on Monday, October 14th. Truist Financial upped their target price on shares of CNX Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Finally, Stephens upped their target price on shares of CNX Resources from $26.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Seven equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $30.00.

CNX Resources Price Performance

CNX opened at $36.90 on Wednesday. The firm has a market cap of $5.51 billion, a P/E ratio of 11.60, a PEG ratio of 1.78 and a beta of 1.43. The firm has a 50-day moving average of $37.00 and a 200 day moving average of $30.17. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.37. CNX Resources Co. has a fifty-two week low of $19.07 and a fifty-two week high of $41.93.

CNX Resources (NYSE:CNX) last posted its quarterly earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.09. The company had revenue of $424.21 million during the quarter, compared to analyst estimates of $398.33 million. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. During the same quarter in the prior year, the business earned $0.35 earnings per share. On average, research analysts expect that CNX Resources Co. will post 1.53 EPS for the current year.

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.