Intech Investment Management LLC Has $5.87 Million Position in CNX Resources Corporation. $CNX

Intech Investment Management LLC decreased its position in shares of CNX Resources Corporation. (NYSE:CNX) by 42.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 182,595 shares of the oil and gas producer’s stock after selling 133,672 shares during the period. Intech Investment Management LLC owned about 0.14% of CNX Resources worth $5,865,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. State of Wyoming acquired a new stake in CNX Resources in the second quarter valued at about $29,000. Elevation Point Wealth Partners LLC bought a new position in shares of CNX Resources in the second quarter worth about $46,000. EverSource Wealth Advisors LLC boosted its stake in shares of CNX Resources by 393.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,925 shares of the oil and gas producer’s stock valued at $65,000 after purchasing an additional 1,535 shares in the last quarter. MTM Investment Management LLC acquired a new stake in shares of CNX Resources in the 2nd quarter valued at approximately $67,000. Finally, Hantz Financial Services Inc. grew its holdings in shares of CNX Resources by 462.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 2,954 shares of the oil and gas producer’s stock valued at $95,000 after purchasing an additional 2,429 shares during the last quarter. 95.16% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

CNX Resources Price Performance

Shares of CNX opened at $41.78 on Friday. The business has a 50-day moving average of $37.78 and a 200-day moving average of $34.98. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.44 and a quick ratio of 0.41. The company has a market capitalization of $5.95 billion, a price-to-earnings ratio of 11.35, a price-to-earnings-growth ratio of 0.43 and a beta of 0.66. CNX Resources Corporation. has a 1 year low of $27.68 and a 1 year high of $42.13.

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

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Scotiabank reissued a “sector perform” rating and issued a $44.00 price objective on shares of CNX Resources in a research note on Wednesday, January 21st. Roth Mkm set a $35.00 price target on CNX Resources and gave the company a “neutral” rating in a research note on Thursday, January 29th. Morgan Stanley raised their price objective on CNX Resources from $31.00 to $32.00 and gave the company an “underweight” rating in a report on Friday, January 23rd. Zacks Research cut CNX Resources from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. Finally, Piper Sandler set a $26.00 target price on CNX Resources in a research report on Monday, February 2nd. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $36.00.

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.