Connor Clark & Lunn Investment Management Ltd. Invests $260,000 in CNX Resources Corp (CNX) Stock

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Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of CNX Resources Corp (NYSE:CNX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 22,725 shares of the oil and gas producer’s stock, valued at approximately $260,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. First Hawaiian Bank grew its position in shares of CNX Resources by 54.9% in the fourth quarter. First Hawaiian Bank now owns 2,948 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 1,045 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of CNX Resources by 14.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,414 shares of the oil and gas producer’s stock valued at $142,000 after purchasing an additional 1,554 shares during the period. SG Americas Securities LLC grew its position in shares of CNX Resources by 11.0% in the fourth quarter. SG Americas Securities LLC now owns 31,557 shares of the oil and gas producer’s stock valued at $360,000 after purchasing an additional 3,131 shares during the period. Rhumbline Advisers grew its position in shares of CNX Resources by 1.0% in the third quarter. Rhumbline Advisers now owns 362,571 shares of the oil and gas producer’s stock valued at $5,188,000 after purchasing an additional 3,508 shares during the period. Finally, Dupont Capital Management Corp grew its position in shares of CNX Resources by 3.7% in the fourth quarter. Dupont Capital Management Corp now owns 104,671 shares of the oil and gas producer’s stock valued at $1,195,000 after purchasing an additional 3,771 shares during the period. Institutional investors own 99.18% of the company’s stock.

Several analysts have recently issued reports on CNX shares. Robert W. Baird reiterated a “buy” rating and issued a $15.00 target price on shares of CNX Resources in a research report on Monday, February 4th. MKM Partners started coverage on shares of CNX Resources in a research report on Wednesday, December 5th. They issued a “buy” rating and a $19.00 target price on the stock. TheStreet lowered shares of CNX Resources from a “b-” rating to a “c+” rating in a research report on Wednesday, March 6th. Susquehanna Bancshares set a $11.00 target price on shares of CNX Resources and gave the company a “hold” rating in a research report on Saturday, February 2nd. Finally, Tudor Pickering lowered shares of CNX Resources from a “buy” rating to a “hold” rating in a research report on Friday, February 1st. Three analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. CNX Resources has a consensus rating of “Hold” and a consensus target price of $15.00.

CNX opened at $10.93 on Friday. The stock has a market cap of $2.17 billion, a P/E ratio of 7.53 and a beta of 0.79. CNX Resources Corp has a twelve month low of $9.58 and a twelve month high of $18.37. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 0.47.

CNX Resources (NYSE:CNX) last posted its quarterly earnings results on Thursday, January 31st. The oil and gas producer reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.39. The firm had revenue of $435.46 million for the quarter, compared to analyst estimates of $436.26 million. CNX Resources had a net margin of 46.03% and a return on equity of 5.91%. During the same period in the previous year, the business posted ($0.23) earnings per share. Equities analysts predict that CNX Resources Corp will post 0.61 EPS for the current year.

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About CNX Resources

CNX Resources Corporation, an independent oil and gas company, explores for, develops, and produces natural gas primarily in the Appalachian Basin. The company operates through two divisions, Exploration and Production (E&P), and Midstream. The E&P division produces pipeline quality natural gas primarily to gas wholesalers.

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

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