Quantbot Technologies LP Has $10.13 Million Holdings in CNX Resources Corporation. $CNX

Quantbot Technologies LP decreased its holdings in shares of CNX Resources Corporation. (NYSE:CNX) by 23.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 315,302 shares of the oil and gas producer’s stock after selling 97,172 shares during the quarter. Quantbot Technologies LP’s holdings in CNX Resources were worth $10,128,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of CNX. Police & Firemen s Retirement System of New Jersey increased its position in shares of CNX Resources by 1.9% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 32,099 shares of the oil and gas producer’s stock valued at $1,081,000 after buying an additional 601 shares in the last quarter. Resona Asset Management Co. Ltd. grew its position in shares of CNX Resources by 5.0% in the 3rd quarter. Resona Asset Management Co. Ltd. now owns 14,002 shares of the oil and gas producer’s stock valued at $450,000 after purchasing an additional 670 shares during the period. CWM LLC raised its holdings in CNX Resources by 26.0% during the 2nd quarter. CWM LLC now owns 3,405 shares of the oil and gas producer’s stock worth $115,000 after buying an additional 703 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in shares of CNX Resources by 5.5% in the third quarter. Sequoia Financial Advisors LLC now owns 14,276 shares of the oil and gas producer’s stock valued at $459,000 after purchasing an additional 747 shares in the last quarter. Finally, Beacon Pointe Advisors LLC increased its position in shares of CNX Resources by 3.6% in the second quarter. Beacon Pointe Advisors LLC now owns 22,973 shares of the oil and gas producer’s stock valued at $774,000 after acquiring an additional 803 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Morgan Stanley raised their price objective on shares of CNX Resources from $31.00 to $32.00 and gave the stock an “underweight” rating in a research report on Friday, January 23rd. Mizuho upped their target price on CNX Resources from $35.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. Piper Sandler set a $26.00 price objective on shares of CNX Resources in a research report on Monday, February 2nd. Weiss Ratings upgraded shares of CNX Resources from a “hold (c)” rating to a “buy (b)” rating in a research report on Wednesday, February 11th. Finally, Barclays lifted their target price on shares of CNX Resources from $34.00 to $35.00 and gave the stock an “underweight” rating in a research report on Friday, January 30th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, CNX Resources presently has an average rating of “Reduce” and a consensus price target of $36.00.

CNX Resources Trading Up 5.3%

Shares of CNX opened at $41.78 on Friday. The firm has a 50 day moving average price of $37.78 and a 200-day moving average price of $34.93. 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 fifty-two week low of $27.68 and a fifty-two week high of $42.13. The firm has a market cap of $5.95 billion, a price-to-earnings ratio of 11.35, a PEG ratio of 0.41 and a beta of 0.66.

CNX Resources (NYSE:CNX) last released its quarterly earnings results on Thursday, January 29th. The oil and gas producer reported $1.28 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.94. CNX Resources had a return on equity of 9.29% and a net margin of 28.28%.The company had revenue of $610.48 million for the quarter, compared to analyst estimates of $422.65 million. During the same period in the previous year, the company posted ($0.97) earnings per share. The firm’s revenue was up 347.0% on a year-over-year basis. As a group, equities research analysts forecast that CNX Resources Corporation. will post 2.18 earnings per share for the current year.

Insider Activity

In other news, Director Bernard Lanigan, Jr. sold 46,119 shares of the firm’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 completion of the sale, the director directly owned 177,180 shares of the company’s stock, valued at $7,193,508. This trade represents a 20.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.10% of the stock is currently owned by insiders.

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.