World Investment Advisors LLC bought a new stake in CNX Resources Co. (NYSE:CNX - Free Report) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 16,383 shares of the oil and gas producer's stock, valued at approximately $534,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the company. Geode Capital Management LLC raised 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 valued at $117,366,000 after purchasing an additional 12,333 shares during the period. M&T Bank Corp raised its holdings in shares of CNX Resources by 25.4% in the 3rd quarter. M&T Bank Corp now owns 18,057 shares of the oil and gas producer's stock valued at $588,000 after purchasing an additional 3,663 shares during the period. Hodges Capital Management Inc. bought a new stake in shares of CNX Resources in the 3rd quarter valued at about $212,000. XTX Topco Ltd bought a new stake in shares of CNX Resources in the 3rd quarter valued at about $804,000. Finally, iSAM Funds UK Ltd acquired a new position in CNX Resources in the 3rd quarter valued at about $564,000. 95.16% of the stock is owned by institutional investors.
NYSE CNX opened at $36.53 on Wednesday. The company has a current ratio of 0.37, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $5.45 billion, a price-to-earnings ratio of 11.49, a P/E/G ratio of 1.85 and a beta of 1.43. The firm's 50 day simple moving average is $37.36 and its 200 day simple moving average is $30.60. CNX Resources Co. has a 1 year low of $19.07 and a 1 year high of $41.93.
CNX Resources (NYSE:CNX - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.09. The business had revenue of $424.21 million for the quarter, compared to analyst estimates of $398.33 million. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. During the same quarter last year, the business posted $0.35 EPS. As a group, research analysts expect that CNX Resources Co. will post 1.54 earnings per share for the current fiscal year.
A number of research analysts recently commented on CNX shares. Stephens upped their price target on shares of CNX Resources from $26.00 to $35.00 and gave the company an "equal weight" rating in a research note on Friday, October 25th. Bank of America started coverage on shares of CNX Resources in a research note on Monday, October 28th. They issued an "underperform" rating and a $34.00 price target on the stock. Tudor Pickering upgraded shares of CNX Resources to a "strong sell" rating in a research note on Tuesday, October 1st. Truist Financial upped their price target on shares of CNX Resources from $34.00 to $35.00 and gave the company a "hold" rating in a research note on Friday, December 6th. Finally, BMO Capital Markets increased their target price on shares of CNX Resources from $26.00 to $29.00 and gave the stock a "market perform" rating in a research report on Friday, October 4th. Eight equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average price target of $30.50.
Read Our Latest Analysis on CNX
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider CNX Resources, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CNX Resources wasn't on the list.
While CNX Resources currently has a "Strong Sell" rating among analysts, top-rated analysts believe these five stocks are better buys.