EMC Capital Management Makes New $238,000 Investment in CNX Resources Corporation. $CNX

EMC Capital Management purchased a new position in CNX Resources Corporation. (NYSE:CNX) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 7,079 shares of the oil and gas producer’s stock, valued at approximately $238,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ameritas Advisory Services LLC acquired a new stake in CNX Resources in the second quarter worth about $32,000. MTM Investment Management LLC bought a new stake in shares of CNX Resources during the 2nd quarter worth about $67,000. Public Employees Retirement System of Ohio acquired a new stake in shares of CNX Resources in the 2nd quarter worth approximately $115,000. CWM LLC lifted its stake in shares of CNX Resources by 26.0% in the 2nd quarter. CWM LLC now owns 3,405 shares of the oil and gas producer’s stock worth $115,000 after acquiring an additional 703 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of CNX Resources by 11.5% in the second quarter. GAMMA Investing LLC now owns 3,760 shares of the oil and gas producer’s stock valued at $127,000 after acquiring an additional 389 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors.

CNX Resources Stock Up 3.0%

Shares of CNX Resources stock opened at $37.20 on Wednesday. CNX Resources Corporation. has a 12-month low of $27.00 and a 12-month high of $41.93. The firm has a market capitalization of $5.02 billion, a PE ratio of 63.06, a price-to-earnings-growth ratio of 0.35 and a beta of 0.56. The company has a quick ratio of 0.30, a current ratio of 0.33 and a debt-to-equity ratio of 0.56. The stock’s fifty day moving average is $32.84 and its 200-day moving average is $31.90.

CNX Resources (NYSE:CNX) last issued its quarterly earnings results on Thursday, October 30th. The oil and gas producer reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.09. CNX Resources had a return on equity of 8.93% and a net margin of 9.70%.The firm had revenue of $423.00 million for the quarter, compared to analysts’ expectations of $408.80 million. The company’s quarterly revenue was up 37.6% compared to the same quarter last year. Equities analysts anticipate that CNX Resources Corporation. will post 2.18 earnings per share for the current year.

Wall Street Analyst Weigh In

CNX has been the subject of a number of research analyst reports. Morgan Stanley cut their target price on CNX Resources from $32.00 to $31.00 and set an “underweight” rating for the company in a research report on Tuesday, October 14th. Barclays upped their price objective on CNX Resources from $32.00 to $34.00 and gave the company an “equal weight” rating in a report on Friday, October 31st. Scotiabank lifted their target price on CNX Resources from $35.00 to $36.00 and gave the stock a “sector perform” rating in a report on Thursday, October 9th. Weiss Ratings reissued a “hold (c)” rating on shares of CNX Resources in a report on Monday. Finally, Piper Sandler reduced their price objective on shares of CNX Resources from $26.00 to $24.00 and set an “underweight” rating for the company in a research report on Thursday, August 14th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $32.67.

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.