Blue Trust Inc. Grows Stock Holdings in CNX Resources Co. (NYSE:CNX)

Blue Trust Inc. grew its holdings in CNX Resources Co. (NYSE:CNX) by 135.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,966 shares of the oil and gas producer’s stock after purchasing an additional 1,131 shares during the quarter. Blue Trust Inc.’s holdings in CNX Resources were worth $64,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of CNX. GAMMA Investing LLC lifted its stake 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 worth $46,000 after purchasing an additional 666 shares in the last quarter. CWM LLC lifted its stake in CNX Resources by 77.0% in 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 in the last quarter. Natixis purchased a new position in CNX Resources in the 1st quarter worth approximately $79,000. Innealta Capital LLC purchased a new position in CNX Resources in the 2nd quarter worth approximately $131,000. Finally, Atomi Financial Group Inc. purchased a new position in CNX Resources in the 3rd quarter worth approximately $202,000. 95.16% of the stock is owned by hedge funds and other institutional investors.

CNX Resources Stock Up 0.1 %

CNX Resources stock opened at $35.10 on Thursday. The firm has a 50 day moving average price of $31.38 and a 200 day moving average price of $27.20. The company has a market capitalization of $5.38 billion, a PE ratio of 6.36 and a beta of 1.38. 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 $37.57.

CNX Resources (NYSE:CNX) last posted its quarterly earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 EPS for the quarter, topping the consensus estimate of $0.32 by $0.09. The business had revenue of $424.21 million during the quarter, compared to the consensus estimate of $398.33 million. CNX Resources had a net margin of 26.64% and a return on equity of 7.51%. During the same quarter in the previous year, the firm posted $0.35 earnings per share. Research analysts expect that CNX Resources Co. will post 1.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Stephens raised their price target on shares of CNX Resources from $26.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Truist Financial downgraded shares of CNX Resources from a “buy” rating to a “hold” rating and cut their price target for the stock from $38.00 to $34.00 in a report on Monday. Mizuho raised their price target on shares of CNX Resources from $32.00 to $33.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Tudor Pickering upgraded shares of CNX Resources to a “strong sell” rating in a report on Tuesday, October 1st. Finally, Scotiabank raised their price target on shares of CNX Resources from $25.00 to $27.00 and gave the stock a “sector underperform” rating in a report on Tuesday, August 20th. Six 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.com, the stock presently has an average rating of “Hold” and an average target price of $29.00.

Insiders Place Their Bets

In other CNX Resources news, Director Bernard Lanigan, Jr. purchased 75,000 shares of the company’s stock in a transaction on Monday, September 9th. The stock was acquired at an average price of $26.81 per share, for a total transaction of $2,010,750.00. Following the completion of the purchase, the director now directly owns 401,820 shares in the company, valued at approximately $10,772,794.20. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.10% of the company’s stock.

CNX Resources 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.