CNX Resources Corporation. $CNX Shares Purchased by Ossiam

Ossiam increased its stake in shares of CNX Resources Corporation. (NYSE:CNX) by 116.9% in the third quarter, HoldingsChannel.com reports. The firm owned 672,400 shares of the oil and gas producer’s stock after buying an additional 362,400 shares during the period. Ossiam’s holdings in CNX Resources were worth $21,597,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CNX. Crossmark Global Holdings Inc. increased its stake in CNX Resources by 5.7% in the third quarter. Crossmark Global Holdings Inc. now owns 10,881 shares of the oil and gas producer’s stock valued at $349,000 after purchasing an additional 587 shares during the period. Police & Firemen s Retirement System of New Jersey boosted its stake in shares of CNX Resources by 1.9% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 32,099 shares of the oil and gas producer’s stock worth $1,081,000 after buying an additional 601 shares during the period. Resona Asset Management Co. Ltd. boosted its stake in shares of CNX Resources by 5.0% during the third quarter. Resona Asset Management Co. Ltd. now owns 14,002 shares of the oil and gas producer’s stock worth $450,000 after buying an additional 670 shares during the period. Sequoia Financial Advisors LLC grew its holdings in shares of CNX Resources by 5.5% during the third quarter. Sequoia Financial Advisors LLC now owns 14,276 shares of the oil and gas producer’s stock worth $459,000 after buying an additional 747 shares during the last quarter. Finally, Beacon Pointe Advisors LLC increased its position in CNX Resources by 3.6% in the 2nd 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 period. Institutional investors and hedge funds own 95.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CNX. Zacks Research raised CNX Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, February 27th. Roth Mkm set a $35.00 target price on CNX Resources and gave the company a “neutral” rating in a report on Thursday, January 29th. Mizuho upped their price target on CNX Resources from $35.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. Morgan Stanley increased their price target on CNX Resources from $31.00 to $32.00 and gave the stock an “underweight” rating in a report on Friday, January 23rd. Finally, 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. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, CNX Resources has a consensus rating of “Reduce” and a consensus target price of $36.00.

Insiders Place Their Bets

In related news, Director Bernard Lanigan, Jr. sold 46,119 shares of the company’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $40.60, for a total transaction of $1,872,431.40. Following the transaction, the director owned 177,180 shares of the company’s stock, valued at $7,193,508. This represents a 20.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 3.10% of the stock is owned by corporate insiders.

CNX Resources Price Performance

Shares of NYSE:CNX opened at $42.11 on Friday. CNX Resources Corporation. has a 52 week low of $27.68 and a 52 week high of $43.62. The company has a 50-day moving average price of $38.68 and a 200 day moving average price of $35.82. The company has a market cap of $6.00 billion, a P/E ratio of 11.44, a PEG ratio of 0.43 and a beta of 0.66. The company has a quick ratio of 0.41, a current ratio of 0.44 and a debt-to-equity ratio of 0.52.

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

About CNX Resources

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.