DRW Securities LLC Acquires Shares of 13,400 CNX Resources Co. (NYSE:CNX)

DRW Securities LLC bought a new position in CNX Resources Co. (NYSE:CNX) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 13,400 shares of the oil and gas producer’s stock, valued at approximately $326,000.

A number of other institutional investors have also modified their holdings of CNX. Pullen Investment Management LLC grew its stake in CNX Resources by 2.3% in the second quarter. Pullen Investment Management LLC now owns 27,399 shares of the oil and gas producer’s stock worth $666,000 after purchasing an additional 623 shares in the last quarter. GAMMA Investing LLC grew its position in shares of CNX Resources by 54.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock worth $46,000 after buying an additional 666 shares in the last quarter. Riverwater Partners LLC increased its stake in shares of CNX Resources by 1.0% during the first quarter. Riverwater Partners LLC now owns 65,673 shares of the oil and gas producer’s stock valued at $1,558,000 after buying an additional 676 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in shares of CNX Resources by 3.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 29,307 shares of the oil and gas producer’s stock valued at $712,000 after acquiring an additional 941 shares in the last quarter. Finally, Congress Asset Management Co. MA lifted its stake in CNX Resources by 0.4% in the fourth quarter. Congress Asset Management Co. MA now owns 265,558 shares of the oil and gas producer’s stock worth $5,311,000 after acquiring an additional 945 shares during the period. 95.16% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at CNX Resources

In related news, Director Bernard Lanigan, Jr. bought 75,000 shares of the company’s stock in a transaction on Monday, September 9th. The shares were bought at an average price of $26.81 per share, with a total value of $2,010,750.00. Following the transaction, the director now owns 401,820 shares in the company, valued at $10,772,794.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.10% of the stock is currently owned by insiders.

CNX Resources Stock Performance

Shares of CNX opened at $31.81 on Tuesday. The company has a current ratio of 0.41, a quick ratio of 0.40 and a debt-to-equity ratio of 0.46. The firm has a market cap of $4.87 billion, a PE ratio of 5.76 and a beta of 1.37. CNX Resources Co. has a 12 month low of $19.07 and a 12 month high of $32.26. The stock has a fifty day moving average price of $26.86 and a 200-day moving average price of $25.09.

CNX Resources (NYSE:CNX) last released its quarterly earnings results on Thursday, July 25th. The oil and gas producer reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.09. CNX Resources had a return on equity of 7.51% and a net margin of 26.64%. The company had revenue of $321.44 million during the quarter, compared to analysts’ expectations of $387.46 million. During the same period last year, the business posted $0.29 earnings per share. Equities research analysts predict that CNX Resources Co. will post 1.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CNX has been the topic of a number of research reports. Stephens reissued an “equal weight” rating and set a $27.00 target price on shares of CNX Resources in a research report on Monday, July 15th. Mizuho boosted their price objective on shares of CNX Resources from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. increased their target price on CNX Resources from $26.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Piper Sandler downgraded CNX Resources from a “neutral” rating to an “underweight” rating and cut their price target for the company from $22.00 to $20.00 in a report on Thursday, August 15th. Finally, Scotiabank upped their price objective on CNX Resources from $25.00 to $27.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, August 20th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $26.13.

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.