Savant Capital LLC Acquires New Stake in CNX Resources Co. (NYSE:CNX)

Savant Capital LLC bought a new position in CNX Resources Co. (NYSE:CNX) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 7,120 shares of the oil and gas producer’s stock, valued at approximately $261,000.

Several other institutional investors and hedge funds have also made changes to their positions in CNX. Blue Trust Inc. grew its stake in 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 lifted its position in shares of 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 during the period. Heck Capital Advisors LLC bought a new position in shares of CNX Resources in the 4th quarter worth $121,000. Longboard Asset Management LP bought a new stake in CNX Resources during the fourth quarter valued at about $212,000. Finally, KBC Group NV grew its stake in CNX Resources by 41.0% in the fourth quarter. KBC Group NV now owns 6,216 shares of the oil and gas producer’s stock valued at $228,000 after purchasing an additional 1,806 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors.

CNX Resources Stock Up 1.0 %

Shares of NYSE CNX opened at $30.50 on Wednesday. CNX Resources Co. has a 52-week low of $19.58 and a 52-week high of $41.93. The company has a quick ratio of 0.32, a current ratio of 0.33 and a debt-to-equity ratio of 0.45. The company’s 50-day simple moving average is $32.09 and its 200-day simple moving average is $32.57. The firm has a market cap of $4.54 billion, a price-to-earnings ratio of -44.84, a price-to-earnings-growth ratio of 0.39 and a beta of 1.38.

CNX Resources (NYSE:CNX) last issued its quarterly earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 EPS for the quarter, topping the consensus estimate of $0.43 by $0.14. CNX Resources had a positive return on equity of 6.72% and a negative net margin of 7.14%. Equities analysts predict that CNX Resources Co. will post 2.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CNX. Mizuho cut their price objective on shares of CNX Resources from $38.00 to $34.00 and set an “underperform” rating on the stock in a report on Tuesday, January 14th. Stephens boosted their price target on CNX Resources from $26.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Bank of America initiated coverage on CNX Resources in a research note on Monday, October 28th. They issued an “underperform” rating and a $34.00 price objective for the company. JPMorgan Chase & Co. downgraded shares of CNX Resources from a “neutral” rating to an “underweight” rating and increased their price target for the stock from $31.00 to $37.00 in a report on Thursday, December 5th. Finally, Morgan Stanley initiated coverage on shares of CNX Resources in a report on Friday, January 10th. They set an “underweight” rating and a $29.00 target price for the company. Nine research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $29.67.

Insiders Place Their Bets

In other news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $31.09, for a total value of $33,421,750.00. Following the completion of the sale, the insider now owns 13,925,000 shares of the company’s stock, valued at $432,928,250. This represents a 7.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate 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.