Wakefield Asset Management LLLP Makes New $1.05 Million Investment in CNX Resources Co. (NYSE:CNX)

Wakefield Asset Management LLLP acquired a new position in shares of CNX Resources Co. (NYSE:CNX) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 28,545 shares of the oil and gas producer’s stock, valued at approximately $1,047,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Principal Securities Inc. boosted its position 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 in the last quarter. SeaBridge Investment Advisors LLC increased its position in shares of CNX Resources by 0.8% during the fourth quarter. SeaBridge Investment Advisors LLC now owns 90,301 shares of the oil and gas producer’s stock valued at $3,311,000 after acquiring an additional 759 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of CNX Resources by 135.4% in the 3rd 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 during the last quarter. State of Alaska Department of Revenue grew its position in shares of CNX Resources by 7.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 17,662 shares of the oil and gas producer’s stock valued at $575,000 after acquiring an additional 1,190 shares during the period. Finally, Natixis Advisors LLC raised its stake in shares of CNX Resources by 3.1% in the third quarter. Natixis Advisors LLC now owns 41,644 shares of the oil and gas producer’s stock valued at $1,356,000 after buying an additional 1,241 shares during the period. Institutional investors own 95.16% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Truist Financial boosted their price objective on 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 upgraded shares of CNX Resources from an “underperform” rating to a “market perform” rating in a research report on Tuesday, February 18th. Roth Capital set a $30.00 target price on CNX Resources in a research note on Thursday, January 23rd. StockNews.com cut shares of CNX Resources from a “hold” rating to a “sell” rating in a research report on Thursday, February 13th. Finally, TD Cowen began coverage on CNX Resources in a research note on Wednesday, January 15th. They set a “hold” rating and a $27.00 target price on the stock. Nine equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $29.69.

CNX Resources Stock Down 4.1 %

CNX Resources stock opened at $28.78 on Friday. The business has a 50 day simple moving average of $31.08 and a 200-day simple moving average of $32.70. CNX Resources Co. has a 12 month low of $20.45 and a 12 month high of $41.93. The stock has a market capitalization of $4.28 billion, a PE ratio of -42.32, a price-to-earnings-growth 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 posted its quarterly earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 EPS for the quarter, topping the consensus estimate of $0.43 by $0.14. CNX Resources had a positive return on equity of 6.72% and a negative net margin of 7.14%. On average, analysts anticipate that CNX Resources Co. will post 2.18 EPS for the current fiscal year.

Insider Activity at CNX Resources

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the 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 transaction, the insider now directly owns 13,925,000 shares in the company, valued at $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 SEC, which is available at this hyperlink. Company insiders own 3.10% of the company’s stock.

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.