CNX Resources Co. (NYSE:CNX) Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC increased its position in shares of CNX Resources Co. (NYSE:CNX) by 197.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 466,016 shares of the oil and gas producer’s stock after purchasing an additional 309,100 shares during the period. Renaissance Technologies LLC owned 0.30% of CNX Resources worth $11,324,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sierra Summit Advisors LLC increased its position in CNX Resources by 7.7% during the second quarter. Sierra Summit Advisors LLC now owns 28,657 shares of the oil and gas producer’s stock worth $696,000 after purchasing an additional 2,042 shares during the last quarter. Federated Hermes Inc. boosted its stake in CNX Resources by 212.5% during the second quarter. Federated Hermes Inc. now owns 147,197 shares of the oil and gas producer’s stock worth $3,577,000 after buying an additional 100,095 shares during the period. American Century Companies Inc. boosted its stake in CNX Resources by 12.0% during the second quarter. American Century Companies Inc. now owns 3,699,186 shares of the oil and gas producer’s stock worth $89,890,000 after buying an additional 397,729 shares during the period. Texas Permanent School Fund Corp boosted its stake in CNX Resources by 68.9% during the second quarter. Texas Permanent School Fund Corp now owns 224,416 shares of the oil and gas producer’s stock worth $5,453,000 after buying an additional 91,570 shares during the period. Finally, Choreo LLC purchased a new position in CNX Resources during the second quarter worth about $701,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CNX has been the subject of several research analyst reports. Mizuho increased their target price on shares of CNX Resources from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. StockNews.com lowered shares of CNX Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd. Stephens reaffirmed an “equal weight” rating and set a $27.00 target price on shares of CNX Resources in a research note on Monday, July 15th. Piper Sandler lowered shares of CNX Resources from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $22.00 to $20.00 in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. raised their price objective on shares of CNX Resources from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $26.13.

Insiders Place Their Bets

In related news, Director Bernard Lanigan, Jr. acquired 75,000 shares of the business’s stock in a transaction on Monday, September 9th. The shares were bought at an average price of $26.81 per share, with a total value of $2,010,750.00. Following the completion of the acquisition, the director now owns 401,820 shares in the company, valued at $10,772,794.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.10% of the stock is owned by corporate insiders.

CNX Resources Stock Down 0.2 %

Shares of NYSE:CNX opened at $31.81 on Tuesday. The firm’s 50 day moving average price is $26.86 and its 200 day moving average price is $25.09. The stock has a market cap of $4.87 billion, a price-to-earnings ratio of 5.76 and a beta of 1.37. CNX Resources Co. has a fifty-two week low of $19.07 and a fifty-two week high of $32.26. The company has a quick ratio of 0.40, a current ratio of 0.41 and a debt-to-equity ratio of 0.46.

CNX Resources (NYSE:CNX) last released its quarterly earnings data on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.09. CNX Resources had a net margin of 26.64% and a return on equity of 7.51%. The company had revenue of $321.44 million for the quarter, compared to analysts’ expectations of $387.46 million. During the same quarter last year, the company earned $0.29 earnings per share. As a group, equities research analysts predict that CNX Resources Co. will post 1.47 earnings per share for the current fiscal year.

CNX Resources Company Profile

CNX Resources Corporation, an independent natural gas and midstream company, engages in the acquisition, exploration, development, and production of natural gas properties in the Appalachian Basin. The company operates in two segments, Shale and Coalbed Methane (CBM). It produces and sells pipeline quality natural gas primarily for gas wholesalers.