Oppenheimer Asset Management Inc. Buys Shares of 6,285 CNX Resources Co. (NYSE:CNX)

Oppenheimer Asset Management Inc. bought a new position in shares of CNX Resources Co. (NYSE:CNX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 6,285 shares of the oil and gas producer’s stock, valued at approximately $205,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its holdings in CNX Resources by 54.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock valued at $46,000 after buying an additional 666 shares during the last quarter. Blue Trust Inc. raised its position in shares of 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 worth $64,000 after acquiring an additional 1,131 shares in the last quarter. CWM LLC grew its holdings in CNX Resources by 77.0% in the third 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 period. Natixis bought a new position in shares of CNX Resources in the first quarter valued at $79,000. Finally, Innealta Capital LLC purchased a new stake in CNX Resources in the 2nd quarter valued at about $131,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

CNX Resources Trading Up 1.9 %

Shares of CNX Resources stock opened at $40.12 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.37. The company has a fifty day moving average of $34.45 and a 200 day moving average of $28.65. The company has a market capitalization of $5.99 billion, a P/E ratio of 12.62, a P/E/G ratio of 1.85 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 $40.17.

CNX Resources (NYSE:CNX) last issued its earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.09. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. The company had revenue of $424.21 million for the quarter, compared to the consensus estimate of $398.33 million. During the same quarter last year, the company earned $0.35 EPS. On average, sell-side analysts anticipate that CNX Resources Co. will post 1.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CNX Resources 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 purchased at an average cost 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. This trade represents a 22.95 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.65% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CNX has been the subject of several recent research reports. Bank of America started coverage on shares of CNX Resources in a research note on Monday, October 28th. They issued an “underperform” rating and a $34.00 target price for the company. Stephens raised their price target on CNX Resources from $26.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Tudor Pickering upgraded CNX Resources to a “strong sell” rating in a research note on Tuesday, October 1st. Tudor, Pickering, Holt & Co. cut CNX Resources from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. Finally, Truist Financial downgraded shares of CNX Resources from a “buy” rating to a “hold” rating and cut their price target for the company from $38.00 to $34.00 in a report on Monday, October 28th. Six investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $29.00.

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.