30,622 Shares in CNX Resources Corporation. $CNX Bought by Paradiem LLC

Paradiem LLC acquired a new position in CNX Resources Corporation. (NYSE:CNX) during the third quarter, according to the company in its most recent filing with the SEC. The fund acquired 30,622 shares of the oil and gas producer’s stock, valued at approximately $984,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CNX. Exchange Traded Concepts LLC purchased a new stake in shares of CNX Resources during the third quarter worth about $878,000. CacheTech Inc. acquired a new stake in CNX Resources during the 2nd quarter valued at approximately $214,000. Adams Wealth Management purchased a new stake in CNX Resources during the 2nd quarter worth approximately $214,000. State of Wyoming purchased a new stake in CNX Resources during the 2nd quarter worth approximately $29,000. Finally, Tower Research Capital LLC TRC raised its position in shares of CNX Resources by 61.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 25,725 shares of the oil and gas producer’s stock valued at $866,000 after purchasing an additional 9,810 shares in the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CNX has been the subject of a number of recent analyst reports. Barclays raised their price target on shares of CNX Resources from $32.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Friday, October 31st. Siebert Williams Shank initiated coverage on shares of CNX Resources in a research note on Monday, September 15th. They set a “hold” rating and a $32.00 price objective on the stock. Scotiabank raised their price objective on shares of CNX Resources from $36.00 to $40.00 and gave the stock a “sector perform” rating in a report on Friday, November 21st. Morgan Stanley cut their target price on shares of CNX Resources from $32.00 to $31.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 14th. Finally, Mizuho increased their price target on shares of CNX Resources from $35.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. One research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $34.00.

CNX Resources Stock Down 1.0%

CNX stock opened at $36.63 on Friday. The firm has a market cap of $4.94 billion, a price-to-earnings ratio of 25.61, a PEG ratio of 0.34 and a beta of 0.64. CNX Resources Corporation. has a 1-year low of $27.00 and a 1-year high of $42.13. The firm has a fifty day moving average price of $36.61 and a two-hundred day moving average price of $33.20. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.34 and a quick ratio of 0.31.

CNX Resources (NYSE:CNX) last posted its quarterly earnings results on Thursday, October 30th. The oil and gas producer reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.09. CNX Resources had a net margin of 16.56% and a return on equity of 9.10%. The company had revenue of $423.00 million for the quarter, compared to the consensus estimate of $408.80 million. CNX Resources’s revenue was up 37.6% on a year-over-year basis. Research analysts predict that CNX Resources Corporation. will post 2.18 EPS 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.