Capital Management Corp VA Takes Position in CNX Resources Co. (NYSE:CNX)

Capital Management Corp VA bought a new stake in CNX Resources Co. (NYSE:CNXGet Rating) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 352,474 shares of the oil and gas producer’s stock, valued at approximately $4,847,000. Capital Management Corp VA owned 0.17% of CNX Resources as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. LPL Financial LLC raised its holdings in shares of CNX Resources by 21.5% in the 3rd quarter. LPL Financial LLC now owns 120,774 shares of the oil and gas producer’s stock valued at $1,524,000 after purchasing an additional 21,339 shares during the period. Voloridge Investment Management LLC raised its holdings in shares of CNX Resources by 774.4% in the 3rd quarter. Voloridge Investment Management LLC now owns 111,079 shares of the oil and gas producer’s stock valued at $1,402,000 after purchasing an additional 98,375 shares during the period. Renaissance Technologies LLC bought a new stake in shares of CNX Resources in the 3rd quarter valued at about $6,323,000. Oppenheimer Asset Management Inc. raised its holdings in shares of CNX Resources by 16.8% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 43,334 shares of the oil and gas producer’s stock valued at $596,000 after purchasing an additional 6,233 shares during the period. Finally, Rafferty Asset Management LLC raised its holdings in CNX Resources by 5.2% in the 3rd quarter. Rafferty Asset Management LLC now owns 394,375 shares of the oil and gas producer’s stock valued at $4,977,000 after acquiring an additional 19,558 shares during the period. 91.54% of the stock is currently owned by institutional investors.

Shares of NYSE CNX traded down $0.60 during trading hours on Friday, hitting $20.55. 3,324,344 shares of the stock were exchanged, compared to its average volume of 2,779,278. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.48 and a current ratio of 0.48. The company’s fifty day simple moving average is $19.61 and its two-hundred day simple moving average is $16.31. CNX Resources Co. has a 1-year low of $10.41 and a 1-year high of $23.33.

CNX Resources (NYSE:CNXGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The oil and gas producer reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.19. The firm had revenue of ($913.10) million for the quarter, compared to analyst estimates of $519.43 million. The business’s revenue was down 293.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.36 EPS. As a group, research analysts expect that CNX Resources Co. will post 2.43 earnings per share for the current fiscal year.

CNX has been the topic of several research analyst reports. Wells Fargo & Company increased their price target on shares of CNX Resources from $23.00 to $26.00 and gave the company an “overweight” rating in a report on Monday, March 14th. Piper Sandler cut shares of CNX Resources from an “overweight” rating to a “neutral” rating and increased their price target for the company from $19.00 to $27.00 in a report on Thursday, April 21st. StockNews.com initiated coverage on shares of CNX Resources in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Stifel Nicolaus increased their price target on shares of CNX Resources from $29.00 to $33.00 in a report on Thursday. Finally, Truist Financial raised their target price on shares of CNX Resources from $16.00 to $22.00 in a report on Thursday, April 21st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, CNX Resources currently has a consensus rating of “Hold” and an average target price of $20.00.

About CNX Resources (Get Rating)

CNX Resources Corporation, an independent natural gas and midstream company, acquires, explores for, develops, and produces natural gas properties in the Appalachian Basin. The company operates in two segments, Shale and Coalbed Methane. It produces and sells pipeline quality natural gas primarily for gas wholesalers.

See Also

Institutional Ownership by Quarter for CNX Resources (NYSE:CNX)

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