CNX Resources Co. (NYSE:CNX) Shares Acquired by State of Alaska Department of Revenue

State of Alaska Department of Revenue increased its stake in shares of CNX Resources Co. (NYSE:CNX) by 7.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,662 shares of the oil and gas producer’s stock after purchasing an additional 1,190 shares during the period. State of Alaska Department of Revenue’s holdings in CNX Resources were worth $575,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in shares of CNX Resources by 54.1% during the second quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock valued at $46,000 after acquiring an additional 666 shares during the last quarter. Blue Trust Inc. lifted its holdings in CNX Resources by 135.4% in the 3rd quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer’s stock valued at $64,000 after purchasing an additional 1,131 shares in the last quarter. CWM LLC boosted its stake in CNX Resources by 77.0% during the 3rd quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock worth $70,000 after purchasing an additional 935 shares during the last quarter. Natixis purchased a new stake in shares of CNX Resources during the first quarter worth $79,000. Finally, Innealta Capital LLC acquired a new stake in shares of CNX Resources in the second quarter valued at about $131,000. 95.16% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at CNX Resources

In other news, Director Bernard Lanigan, Jr. acquired 75,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were purchased at an average price of $26.81 per share, for a total transaction of $2,010,750.00. Following the acquisition, the director now owns 401,820 shares of the company’s stock, valued at $10,772,794.20. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.65% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CNX. Scotiabank upped their price objective on shares of CNX Resources from $25.00 to $27.00 and gave the company a “sector underperform” rating in a research note on Tuesday, August 20th. Stephens lifted their price objective on CNX Resources from $26.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Tudor, Pickering, Holt & Co. cut CNX Resources from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. StockNews.com lowered CNX Resources from a “hold” rating to a “sell” rating in a report on Saturday, August 3rd. Finally, Bank of America started coverage on shares of CNX Resources in a report on Monday, October 28th. They issued an “underperform” rating and a $34.00 price objective for the company. Six equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $29.00.

CNX Resources Trading Up 1.8 %

Shares of CNX stock opened at $37.79 on Friday. CNX Resources Co. has a 1-year low of $19.07 and a 1-year high of $38.12. The firm has a market cap of $5.64 billion, a PE ratio of 11.88, a price-to-earnings-growth ratio of 1.71 and a beta of 1.37. The company has a 50-day moving average of $32.33 and a two-hundred day moving average of $27.66. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.37 and a quick ratio of 0.36.

CNX Resources (NYSE:CNX) last posted its quarterly earnings data 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 analysts’ expectations of $398.33 million. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. During the same quarter last year, the company posted $0.35 EPS. On average, analysts predict that CNX Resources Co. will post 1.5 EPS for the current year.

About CNX Resources

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.