The Manufacturers Life Insurance Company Has $4.40 Million Stake in CNX Resources Co. (NYSE:CNX)

The Manufacturers Life Insurance Company decreased its stake in CNX Resources Co. (NYSE:CNX) by 1.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 181,074 shares of the oil and gas producer’s stock after selling 2,401 shares during the quarter. The Manufacturers Life Insurance Company owned 0.12% of CNX Resources worth $4,400,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Parkwood LLC increased its holdings in shares of CNX Resources by 11.2% in the fourth quarter. Parkwood LLC now owns 490,435 shares of the oil and gas producer’s stock worth $9,809,000 after acquiring an additional 49,278 shares in the last quarter. Congress Asset Management Co. MA increased its holdings in shares of CNX Resources by 0.4% in the fourth quarter. Congress Asset Management Co. MA now owns 265,558 shares of the oil and gas producer’s stock worth $5,311,000 after acquiring an additional 945 shares in the last quarter. Gateway Investment Advisers LLC bought a new stake in shares of CNX Resources in the first quarter worth about $231,000. Hexagon Capital Partners LLC increased its holdings in shares of CNX Resources by 113.4% in the first quarter. Hexagon Capital Partners LLC now owns 2,138 shares of the oil and gas producer’s stock worth $51,000 after acquiring an additional 1,136 shares in the last quarter. Finally, AlphaMark Advisors LLC increased its holdings in shares of CNX Resources by 36.7% in the first quarter. AlphaMark Advisors LLC now owns 15,225 shares of the oil and gas producer’s stock worth $361,000 after acquiring an additional 4,091 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Analyst Upgrades and Downgrades

CNX has been the subject of several recent analyst reports. Stephens restated an “equal weight” rating and issued a $27.00 price target on shares of CNX Resources in a report on Monday, July 15th. Piper Sandler downgraded CNX Resources from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $22.00 to $20.00 in a report on Thursday, August 15th. StockNews.com downgraded CNX Resources from a “hold” rating to a “sell” rating in a report on Saturday, August 3rd. Mizuho increased their price objective on CNX Resources from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Finally, Tudor Pickering upgraded CNX Resources to a “strong sell” rating in a report on Tuesday, October 1st. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $27.22.

CNX Resources Stock Performance

Shares of NYSE CNX opened at $34.41 on Tuesday. The stock has a 50 day moving average price of $28.22 and a 200 day moving average price of $25.85. CNX Resources Co. has a 52 week low of $19.07 and a 52 week high of $34.69. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.40 and a current ratio of 0.41. The stock has a market capitalization of $5.27 billion, a PE ratio of 6.23 and a beta of 1.38.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.09. CNX Resources had a return on equity of 7.51% and a net margin of 26.64%. The company had revenue of $321.44 million during the quarter, compared to analysts’ expectations of $387.46 million. During the same period last year, the firm posted $0.29 earnings per share. Analysts predict that CNX Resources Co. will post 1.44 earnings per share for the current fiscal year.

Insider Activity

In other CNX Resources news, Director Bernard Lanigan, Jr. acquired 75,000 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was bought at an average cost of $26.81 per share, with a total value of $2,010,750.00. Following the completion of the transaction, the director now directly owns 401,820 shares in the company, valued at approximately $10,772,794.20. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.10% of the company’s stock.

CNX Resources 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.