Pullen Investment Management LLC Purchases 29,469 Shares of CNX Resources Corporation. $CNX

Pullen Investment Management LLC increased its holdings in shares of CNX Resources Corporation. (NYSE:CNX) by 76.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 68,083 shares of the oil and gas producer’s stock after buying an additional 29,469 shares during the quarter. CNX Resources accounts for approximately 1.3% of Pullen Investment Management LLC’s holdings, making the stock its 26th largest holding. Pullen Investment Management LLC owned 0.05% of CNX Resources worth $2,503,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Capital Research Global Investors increased its holdings in shares of CNX Resources by 38.6% in the third quarter. Capital Research Global Investors now owns 3,950,000 shares of the oil and gas producer’s stock worth $126,874,000 after acquiring an additional 1,100,000 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of CNX Resources by 16.3% during the 3rd quarter. American Century Companies Inc. now owns 3,236,441 shares of the oil and gas producer’s stock valued at $103,954,000 after purchasing an additional 454,071 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in shares of CNX Resources by 16.7% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,400,000 shares of the oil and gas producer’s stock valued at $47,152,000 after purchasing an additional 200,000 shares in the last quarter. Balyasny Asset Management L.P. grew its position in shares of CNX Resources by 601.8% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,105,456 shares of the oil and gas producer’s stock valued at $35,507,000 after purchasing an additional 947,931 shares during the period. Finally, AQR Capital Management LLC increased its stake in CNX Resources by 9.5% during the 3rd quarter. AQR Capital Management LLC now owns 1,102,778 shares of the oil and gas producer’s stock worth $35,421,000 after purchasing an additional 95,292 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on CNX. Piper Sandler set a $26.00 target price on shares of CNX Resources in a report on Monday, February 2nd. Weiss Ratings upgraded shares of CNX Resources from a “hold (c)” rating to a “buy (b)” rating in a report on Wednesday, February 11th. Roth Mkm set a $35.00 price objective on shares of CNX Resources and gave the stock a “neutral” rating in a research report on Thursday, January 29th. Zacks Research upgraded shares of CNX Resources from a “hold” rating to a “strong-buy” rating in a report on Monday, March 30th. Finally, Morgan Stanley boosted their price objective on shares of CNX Resources from $31.00 to $32.00 and gave the company an “underweight” rating in a research report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, six have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, CNX Resources presently has a consensus rating of “Reduce” and an average target price of $35.67.

Insider Activity at CNX Resources

In other news, Director Maureen Lally-Green sold 23,631 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $39.52, for a total transaction of $933,897.12. Following the sale, the director owned 169,577 shares in the company, valued at $6,701,683.04. This represents a 12.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Bernard Lanigan, Jr. sold 46,119 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $40.60, for a total value of $1,872,431.40. Following the sale, the director owned 177,180 shares in the company, valued at approximately $7,193,508. This represents a 20.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 3.10% of the company’s stock.

CNX Resources Stock Down 0.2%

Shares of CNX Resources stock opened at $38.63 on Friday. The firm has a market cap of $5.50 billion, a PE ratio of 10.50, a P/E/G ratio of 0.31 and a beta of 0.65. The business’s 50 day simple moving average is $39.88 and its 200 day simple moving average is $36.99. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.41 and a current ratio of 0.44. CNX Resources Corporation. has a 52-week low of $27.68 and a 52-week high of $43.62.

CNX Resources (NYSE:CNX) last announced its earnings results on Thursday, January 29th. The oil and gas producer reported $1.28 EPS for the quarter, topping the consensus estimate of $0.34 by $0.94. The business had revenue of $610.48 million during the quarter, compared to analysts’ expectations of $422.65 million. CNX Resources had a net margin of 28.28% and a return on equity of 9.29%. The firm’s revenue was up 347.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.97) earnings per share. On average, analysts predict that CNX Resources Corporation. will post 2.18 earnings per share for the current fiscal year.

CNX Resources Company 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.