Empowered Funds LLC Has $7.76 Million Holdings in CNX Resources Co. (NYSE:CNX)

Empowered Funds LLC boosted its holdings in shares of CNX Resources Co. (NYSE:CNX) by 328.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 211,719 shares of the oil and gas producer’s stock after acquiring an additional 162,247 shares during the quarter. Empowered Funds LLC owned 0.14% of CNX Resources worth $7,764,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CNX. Blue Trust Inc. grew its position 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 valued at $64,000 after buying an additional 1,131 shares during the last quarter. CWM LLC grew its holdings 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 worth $70,000 after acquiring an additional 935 shares during the period. GAMMA Investing LLC raised its position in shares of CNX Resources by 62.1% in the 3rd quarter. GAMMA Investing LLC now owns 3,073 shares of the oil and gas producer’s stock worth $100,000 after acquiring an additional 1,177 shares in the last quarter. Heck Capital Advisors LLC acquired a new stake in CNX Resources during the fourth quarter worth approximately $121,000. Finally, Atomi Financial Group Inc. acquired a new position in CNX Resources in the third quarter valued at approximately $202,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of CNX Resources 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 transaction, the insider now directly owns 13,925,000 shares in the company, valued at approximately $432,928,250. The trade was a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. StockNews.com raised shares of CNX Resources from a “sell” rating to a “hold” rating in a research note on Monday, February 3rd. Mizuho decreased their price target on shares of CNX Resources from $38.00 to $34.00 and set an “underperform” rating for the company in a research note on Tuesday, January 14th. 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. Morgan Stanley started coverage on CNX Resources in a research note on Friday, January 10th. They issued an “underweight” rating and a $29.00 price objective for the company. Finally, JPMorgan Chase & Co. downgraded shares of CNX Resources from a “neutral” rating to an “underweight” rating and lifted their price objective for the stock from $31.00 to $37.00 in a report on Thursday, December 5th. Eight equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $29.67.

CNX Resources Stock Up 4.9 %

CNX opened at $30.71 on Tuesday. The company’s 50-day moving average price is $33.00 and its two-hundred day moving average price is $32.39. 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 Co. has a twelve month low of $19.07 and a twelve month high of $41.93. The stock has a market cap of $4.58 billion, a price-to-earnings ratio of -45.16, a PEG ratio of 0.39 and a beta of 1.38.

CNX Resources (NYSE:CNX) last posted its quarterly 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, equities analysts expect that CNX Resources Co. will post 2.36 earnings per share 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.