Victory Capital Management Inc. Has $3.19 Million Stock Holdings in CNX Resources Co. (NYSE:CNX)

Victory Capital Management Inc. grew its holdings in CNX Resources Co. (NYSE:CNX) by 2.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 97,972 shares of the oil and gas producer’s stock after buying an additional 2,663 shares during the quarter. Victory Capital Management Inc. owned approximately 0.07% of CNX Resources worth $3,191,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CNX. GAMMA Investing LLC boosted its holdings in CNX Resources by 54.1% in 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. boosted its holdings in CNX Resources by 135.4% in the third quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer’s stock valued at $64,000 after acquiring an additional 1,131 shares during the last quarter. CWM LLC boosted 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 valued at $70,000 after acquiring an additional 935 shares during the last quarter. Natixis bought a new position in CNX Resources in the first quarter valued at about $79,000. Finally, Innealta Capital LLC bought a new position in CNX Resources in the second quarter valued at about $131,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Scotiabank raised their target price on CNX Resources from $25.00 to $27.00 and gave the stock a “sector underperform” rating in a report on Tuesday, August 20th. BMO Capital Markets raised their target price on CNX Resources from $26.00 to $29.00 and gave the stock a “market perform” rating in a report on Friday, October 4th. Piper Sandler cut CNX Resources from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $22.00 to $20.00 in a report on Thursday, August 15th. Mizuho raised their target price on CNX Resources from $32.00 to $33.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Finally, Bank of America started coverage on CNX Resources in a report on Monday, October 28th. They set an “underperform” rating and a $34.00 price objective on the stock. Six equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat, CNX Resources presently has a consensus rating of “Hold” and a consensus target price of $29.00.

Insider Transactions at CNX Resources

In other news, Director Bernard Lanigan, Jr. purchased 75,000 shares of CNX Resources 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 directly owns 401,820 shares of the company’s stock, valued at $10,772,794.20. This trade represents a 22.95 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.10% of the stock is currently owned by corporate insiders.

CNX Resources Stock Up 1.1 %

Shares of CNX Resources stock opened at $41.09 on Friday. The business’s 50 day simple moving average is $35.00 and its 200 day simple moving average is $28.88. CNX Resources Co. has a 52-week low of $19.07 and a 52-week high of $41.17. The firm has a market cap of $6.13 billion, a PE ratio of 12.92, a P/E/G ratio of 1.97 and a beta of 1.37. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.37.

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

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.