Creative Planning Acquires 5,470 Shares of CNX Resources Co. (NYSE:CNX)

Creative Planning grew its holdings in CNX Resources Co. (NYSE:CNX) by 17.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,735 shares of the oil and gas producer’s stock after acquiring an additional 5,470 shares during the quarter. Creative Planning’s holdings in CNX Resources were worth $1,196,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of CNX. Allspring Global Investments Holdings LLC increased its holdings in shares of CNX Resources by 243.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 72,656 shares of the oil and gas producer’s stock worth $1,723,000 after purchasing an additional 51,490 shares during the period. SeaBridge Investment Advisors LLC increased its stake in CNX Resources by 10.1% during the first quarter. SeaBridge Investment Advisors LLC now owns 77,277 shares of the oil and gas producer’s stock valued at $1,833,000 after acquiring an additional 7,082 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in CNX Resources by 15.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 83,943 shares of the oil and gas producer’s stock valued at $1,991,000 after acquiring an additional 10,993 shares during the period. Janney Montgomery Scott LLC raised its holdings in CNX Resources by 14.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 117,125 shares of the oil and gas producer’s stock valued at $2,778,000 after acquiring an additional 14,383 shares in the last quarter. Finally, Pullen Investment Management LLC bought a new stake in shares of CNX Resources in the 1st quarter worth approximately $635,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CNX. Stephens raised their price objective on shares of CNX Resources from $26.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Piper Sandler cut shares of CNX Resources from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $22.00 to $20.00 in a research note on Thursday, August 15th. BMO Capital Markets upped their price objective on CNX Resources from $26.00 to $29.00 and gave the company a “market perform” rating in a research note on Friday, October 4th. Tudor Pickering raised CNX Resources to a “strong sell” rating in a report on Tuesday, October 1st. Finally, Truist Financial lowered CNX Resources from a “buy” rating to a “hold” rating and decreased their price target for the company from $38.00 to $34.00 in a research note on Monday. Six equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $29.00.

CNX Resources Stock Up 0.1 %

CNX stock opened at $35.10 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.41 and a quick ratio of 0.40. The stock has a market capitalization of $5.38 billion, a P/E ratio of 6.36 and a beta of 1.38. CNX Resources Co. has a fifty-two week low of $19.07 and a fifty-two week high of $37.57. The business has a 50-day moving average of $31.38 and a 200-day moving average of $27.20.

CNX Resources (NYSE:CNX) last released its quarterly earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.09. The firm had revenue of $424.21 million during the quarter, compared to the consensus estimate of $398.33 million. CNX Resources had a return on equity of 7.51% and a net margin of 26.64%. During the same quarter in the prior year, the firm posted $0.35 EPS. On average, sell-side analysts anticipate that CNX Resources Co. will post 1.43 earnings per share for the current fiscal year.

Insider Activity at CNX Resources

In other news, Director Bernard Lanigan, Jr. bought 75,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was acquired at an average cost of $26.81 per share, for a total transaction of $2,010,750.00. Following the purchase, the director now owns 401,820 shares of the company’s stock, valued at approximately $10,772,794.20. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 3.10% of the stock is owned by company insiders.

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.