International Assets Investment Management LLC Takes Position in CNX Resources Co. (NYSE:CNX)

International Assets Investment Management LLC purchased a new stake in CNX Resources Co. (NYSE:CNX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 10,618 shares of the oil and gas producer’s stock, valued at approximately $326,000.

A number of other institutional investors also recently modified their holdings of the company. Mizuho Markets Americas LLC bought a new position in shares of CNX Resources in the second quarter valued at approximately $97,200,000. American Century Companies Inc. increased its position 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 acquiring an additional 397,729 shares during the period. LSV Asset Management increased its position in CNX Resources by 1.4% during the second quarter. LSV Asset Management now owns 1,780,921 shares of the oil and gas producer’s stock worth $43,276,000 after acquiring an additional 23,800 shares during the period. Tributary Capital Management LLC increased its position in CNX Resources by 0.3% during the second quarter. Tributary Capital Management LLC now owns 901,940 shares of the oil and gas producer’s stock worth $21,917,000 after acquiring an additional 2,535 shares during the period. Finally, Clearbridge Investments LLC increased its position in CNX Resources by 2.2% during the first quarter. Clearbridge Investments LLC now owns 587,005 shares of the oil and gas producer’s stock worth $13,924,000 after acquiring an additional 12,441 shares during the period. Institutional investors own 95.16% of the company’s stock.

Insider Activity

In other news, Director Bernard Lanigan, Jr. bought 75,000 shares of CNX Resources stock in a transaction dated Monday, September 9th. The shares were bought at an average price 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.65% of the stock is owned by corporate insiders.

CNX Resources Stock Up 4.9 %

CNX opened at $37.09 on Thursday. CNX Resources Co. has a fifty-two week low of $19.07 and a fifty-two week high of $37.57. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.37 and a quick ratio of 0.36. The firm’s fifty day moving average price is $31.95 and its two-hundred day moving average price is $27.52. The company has a market capitalization of $5.54 billion, a P/E ratio of 11.76, a P/E/G ratio of 1.67 and a beta of 1.37.

CNX Resources (NYSE:CNX) last issued its earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 EPS for the quarter, beating the consensus estimate of $0.32 by $0.09. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. The company had revenue of $424.21 million for the quarter, compared to the consensus estimate of $398.33 million. During the same quarter in the previous year, the company earned $0.35 EPS. On average, analysts anticipate that CNX Resources Co. will post 1.5 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CNX shares. StockNews.com lowered shares of CNX Resources from a “hold” rating to a “sell” rating in a research report on Saturday, August 3rd. Tudor, Pickering, Holt & Co. lowered shares of CNX Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. dropped their target price on shares of CNX Resources from $32.00 to $31.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Capital One Financial lowered shares of CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 target price on the stock. in a research report on Monday, October 14th. Finally, Bank of America began coverage on shares of CNX Resources in a research report on Monday, October 28th. They set an “underperform” rating and a $34.00 target price on the stock. Six analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $29.00.

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.