SeaBridge Investment Advisors LLC Increases Stock Holdings in CNX Resources Co. (NYSE:CNX)

SeaBridge Investment Advisors LLC lifted its position in CNX Resources Co. (NYSE:CNX) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,301 shares of the oil and gas producer’s stock after buying an additional 759 shares during the quarter. SeaBridge Investment Advisors LLC owned approximately 0.06% of CNX Resources worth $3,311,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CNX. Blue Trust Inc. lifted its holdings in shares of CNX Resources by 135.4% in the third quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer’s stock worth $64,000 after buying an additional 1,131 shares in the last quarter. CWM LLC increased its position in shares of CNX Resources by 77.0% in the third quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock worth $70,000 after purchasing an additional 935 shares during the last quarter. GAMMA Investing LLC increased its position in shares of CNX Resources by 62.1% in the third quarter. GAMMA Investing LLC now owns 3,073 shares of the oil and gas producer’s stock worth $100,000 after purchasing an additional 1,177 shares during the last quarter. Heck Capital Advisors LLC bought a new position in shares of CNX Resources in the fourth quarter worth approximately $121,000. Finally, Atomi Financial Group Inc. bought a new position in shares of CNX Resources in the third quarter worth approximately $202,000. 95.16% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was 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 $432,928,250. This trade represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Stephens upped their price objective on shares of CNX Resources from $26.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. cut shares of CNX Resources from a “neutral” rating to an “underweight” rating and upped their price objective for the stock from $31.00 to $37.00 in a research report on Thursday, December 5th. Piper Sandler decreased their price objective 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. Capital One Financial cut shares of CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 price target on the stock. in a research report on Monday, October 14th. Finally, BMO Capital Markets increased their price target on shares of CNX Resources from $26.00 to $29.00 and gave the company a “market perform” rating in a research report on Friday, October 4th. Nine investment analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, CNX Resources has a consensus rating of “Reduce” and an average target price of $29.67.

CNX Resources Stock Down 0.3 %

Shares of CNX Resources stock opened at $27.41 on Friday. 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 52-week low of $19.07 and a 52-week high of $41.93. The stock has a market capitalization of $4.09 billion, a price-to-earnings ratio of 8.62, a P/E/G ratio of 0.37 and a beta of 1.42. The company’s 50 day moving average price is $34.35 and its 200-day moving average price is $32.16.

CNX Resources (NYSE:CNX) last issued its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.14. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. Equities research analysts forecast that CNX Resources Co. will post 1.6 EPS for the current year.

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.