Connor Clark & Lunn Investment Management Ltd. Purchases New Stake in CNX Resources Corporation. $CNX

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of CNX Resources Corporation. (NYSE:CNX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 167,132 shares of the oil and gas producer’s stock, valued at approximately $5,671,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of CNX Resources by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 86,878 shares of the oil and gas producer’s stock worth $2,735,000 after purchasing an additional 3,785 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of CNX Resources during the first quarter worth about $583,000. EverSource Wealth Advisors LLC lifted its position in shares of CNX Resources by 393.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,925 shares of the oil and gas producer’s stock worth $65,000 after purchasing an additional 1,535 shares during the last quarter. Marshall Wace LLP bought a new position in shares of CNX Resources during the second quarter worth about $272,000. Finally, Cerity Partners LLC acquired a new position in CNX Resources in the second quarter worth about $236,000. 95.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Tudor Pickering raised CNX Resources from a “strong sell” rating to a “hold” rating in a report on Friday, May 8th. Barclays reduced their target price on CNX Resources from $36.00 to $35.00 and set an “underweight” rating on the stock in a report on Tuesday, May 26th. Morgan Stanley decreased their target price on CNX Resources from $34.00 to $32.00 and set an “underweight” rating for the company in a research report on Monday, June 29th. Weiss Ratings downgraded CNX Resources from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, July 28th. Finally, Truist Financial raised CNX Resources from a “sell” rating to a “hold” rating and set a $35.00 price target on the stock in a research report on Wednesday, July 15th. Nine investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $35.44.

CNX Resources Trading Up 0.1%

NYSE CNX opened at $36.11 on Friday. CNX Resources Corporation. has a one year low of $28.70 and a one year high of $43.62. The company has a 50-day simple moving average of $34.40 and a 200-day simple moving average of $36.73. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.72. The firm has a market capitalization of $5.34 billion, a PE ratio of 6.03 and a beta of 0.60.

CNX Resources (NYSE:CNX) last announced its quarterly earnings data on Thursday, July 30th. The oil and gas producer reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.72. The business had revenue of $618.48 million during the quarter, compared to the consensus estimate of $475.16 million. CNX Resources had a net margin of 36.53% and a return on equity of 10.40%. The company’s revenue for the quarter was down 35.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.43 EPS. On average, equities analysts forecast that CNX Resources Corporation. will post 3.08 earnings per share for the current year.

CNX Resources Profile

CNX Resources Corporation is a natural gas and natural gas liquids producer with operations concentrated in the Appalachian Basin. Established as an independent, publicly traded entity in 2018 following its spinoff from Consol Energy, the company focuses on the exploration, development and production of hydrocarbon resources in the Marcellus and Utica shales across Pennsylvania, West Virginia and Ohio.

In addition to its upstream activities, CNX Resources has invested in midstream infrastructure through its subsidiary that gathers, processes and transports natural gas.