EAM Investors LLC Invests $4.65 Million in CNX Resources Co. (NYSE:CNX)

EAM Investors LLC purchased a new stake in shares of CNX Resources Co. (NYSE:CNX) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 126,846 shares of the oil and gas producer’s stock, valued at approximately $4,651,000. EAM Investors LLC owned about 0.08% of CNX Resources at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CNX. Geode Capital Management LLC lifted its holdings in shares of CNX Resources by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,602,837 shares of the oil and gas producer’s stock worth $117,366,000 after acquiring an additional 12,333 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in CNX Resources by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,000,464 shares of the oil and gas producer’s stock worth $73,357,000 after buying an additional 139,647 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in shares of CNX Resources during the 4th quarter worth $37,923,000. Assetmark Inc. boosted its holdings in shares of CNX Resources by 2.2% in the 4th quarter. Assetmark Inc. now owns 885,429 shares of the oil and gas producer’s stock valued at $32,469,000 after buying an additional 19,309 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in CNX Resources by 0.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 622,503 shares of the oil and gas producer’s stock valued at $22,827,000 after acquiring an additional 5,769 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors.

CNX Resources Trading Up 0.4 %

NYSE CNX opened at $30.81 on Wednesday. CNX Resources Co. has a 52 week low of $22.82 and a 52 week high of $41.93. The firm has a 50 day moving average of $30.27 and a two-hundred day moving average of $33.28. The stock has a market capitalization of $4.54 billion, a PE ratio of -45.30, a price-to-earnings-growth ratio of 0.42 and a beta of 1.33. The company has a quick ratio of 0.32, a current ratio of 0.33 and a debt-to-equity ratio of 0.45.

CNX Resources (NYSE:CNX) last posted its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share 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%. As a group, research analysts expect that CNX Resources Co. will post 2.18 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on CNX. Scotiabank raised CNX Resources from a “sector underperform” rating to a “sector perform” rating and set a $33.00 price target for the company in a report on Friday, April 11th. Piper Sandler lowered their price target on shares of CNX Resources from $23.00 to $22.00 and set an “underweight” rating on the stock in a report on Wednesday, January 29th. Raymond James raised shares of CNX Resources from an “underperform” rating to a “market perform” rating in a report on Tuesday, February 18th. Stephens raised CNX Resources from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $35.00 to $48.00 in a report on Tuesday, March 18th. Finally, TD Cowen initiated coverage on shares of CNX Resources in a research report on Wednesday, January 15th. They set a “hold” rating and a $27.00 price objective for the company. Eight analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $31.25.

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.