CNX Resources Co. (NYSE:CNX) Shares Purchased by Creative Planning

Creative Planning lifted its holdings in CNX Resources Co. (NYSE:CNX) by 9.8% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,265 shares of the oil and gas producer’s stock after purchasing an additional 2,779 shares during the period. Creative Planning’s holdings in CNX Resources were worth $760,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in shares of 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 purchasing an additional 666 shares in the last quarter. Hexagon Capital Partners LLC lifted its stake in CNX Resources by 113.4% in the first quarter. Hexagon Capital Partners LLC now owns 2,138 shares of the oil and gas producer’s stock worth $51,000 after acquiring an additional 1,136 shares during the last quarter. Natixis purchased a new position in CNX Resources in the first quarter worth approximately $79,000. Innealta Capital LLC purchased a new position in CNX Resources in the second quarter worth approximately $131,000. Finally, Legacy Capital Wealth Partners LLC purchased a new position in CNX Resources in the second quarter worth approximately $205,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CNX. Tudor Pickering upgraded shares of CNX Resources to a “strong sell” rating in a research note on Tuesday, October 1st. Mizuho lifted their price target 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. Tudor, Pickering, Holt & Co. downgraded shares of CNX Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. StockNews.com cut shares of CNX Resources from a “hold” rating to a “sell” rating in a report on Saturday, August 3rd. Finally, BMO Capital Markets lifted their price target on shares of CNX Resources from $26.00 to $29.00 and gave the stock a “market perform” rating in a research note on Friday, October 4th. Five analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, CNX Resources has a consensus rating of “Hold” and an average target price of $27.22.

Insider Buying and Selling

In other CNX Resources news, Director Bernard Lanigan, Jr. acquired 75,000 shares of the 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 acquisition, the director now owns 401,820 shares of the company’s stock, valued at $10,772,794.20. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 3.10% of the stock is currently owned by corporate insiders.

CNX Resources Price Performance

Shares of CNX opened at $36.29 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.40 and a current ratio of 0.41. CNX Resources Co. has a fifty-two week low of $19.07 and a fifty-two week high of $36.96. The firm has a 50-day simple moving average of $28.93 and a 200-day simple moving average of $26.17. The company has a market capitalization of $5.56 billion, a price-to-earnings ratio of 6.57 and a beta of 1.38.

CNX Resources (NYSE:CNX) last announced its earnings results on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $387.46 million. During the same period last year, the business posted $0.29 EPS. On average, equities research analysts anticipate that CNX Resources Co. will post 1.43 earnings per share for the current 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.