Rhumbline Advisers Raises Stake in CNX Resources Corp (NYSE:CNX)

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Rhumbline Advisers grew its stake in shares of CNX Resources Corp (NYSE:CNX) by 0.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 634,161 shares of the oil and gas producer’s stock after purchasing an additional 1,649 shares during the quarter. Rhumbline Advisers owned approximately 0.34% of CNX Resources worth $4,604,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Signaturefd LLC boosted its stake in shares of CNX Resources by 386.5% during the second quarter. Signaturefd LLC now owns 6,641 shares of the oil and gas producer’s stock valued at $49,000 after purchasing an additional 5,276 shares during the period. Magnus Financial Group LLC purchased a new stake in shares of CNX Resources during the second quarter valued at $84,000. Tower Research Capital LLC TRC boosted its stake in shares of CNX Resources by 11,406.0% during the second quarter. Tower Research Capital LLC TRC now owns 11,506 shares of the oil and gas producer’s stock valued at $84,000 after purchasing an additional 11,406 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of CNX Resources by 27.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,195 shares of the oil and gas producer’s stock valued at $96,000 after purchasing an additional 2,851 shares during the period. Finally, Advisor Partners LLC boosted its stake in shares of CNX Resources by 17.7% during the third quarter. Advisor Partners LLC now owns 14,820 shares of the oil and gas producer’s stock valued at $108,000 after purchasing an additional 2,229 shares during the period. 95.90% of the stock is owned by hedge funds and other institutional investors.

CNX has been the subject of a number of recent analyst reports. KeyCorp initiated coverage on shares of CNX Resources in a research note on Wednesday, October 9th. They set a “sector weight” rating and a $7.11 target price for the company. Zacks Investment Research raised shares of CNX Resources from a “sell” rating to a “hold” rating and set a $9.00 target price for the company in a research note on Thursday, August 1st. Finally, ValuEngine raised shares of CNX Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. CNX Resources presently has a consensus rating of “Hold” and a consensus price target of $12.22.

NYSE:CNX opened at $8.99 on Friday. CNX Resources Corp has a 1-year low of $6.14 and a 1-year high of $16.00. The company has a 50-day moving average of $7.66 and a 200 day moving average of $7.80. The firm has a market cap of $1.66 billion, a PE ratio of 11.00 and a beta of 0.67. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.56 and a quick ratio of 0.54.

CNX Resources (NYSE:CNX) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported ($0.06) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.03. CNX Resources had a net margin of 15.83% and a return on equity of 3.16%. The company had revenue of $530.00 million during the quarter, compared to analyst estimates of $341.10 million. During the same period in the prior year, the firm earned $0.59 earnings per share. The firm’s revenue for the quarter was up 33.5% compared to the same quarter last year. Sell-side analysts anticipate that CNX Resources Corp will post 0.8 EPS for the current fiscal year.

CNX Resources Company Profile

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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