CNX Resources Co. (NYSE:CNX) Shares Purchased by Riverwater Partners LLC

by · The Markets Daily

Riverwater Partners LLC boosted its position in shares of CNX Resources Co. (NYSE:CNX – Free Report) by 124.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 146,363 shares of the oil and gas producer’s stock after purchasing an additional 81,092 shares during the quarter. CNX Resources makes up 2.4% of Riverwater Partners LLC’s portfolio, making the stock its 4th biggest holding. Riverwater Partners LLC owned 0.10% of CNX Resources worth $4,839,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CNX. QRG Capital Management Inc. increased its stake in shares of CNX Resources by 13.8% during the 2nd quarter. QRG Capital Management Inc. now owns 190,498 shares of the oil and gas producer’s stock worth $4,629,000 after purchasing an additional 23,069 shares in the last quarter. Duality Advisers LP raised its holdings in shares of CNX Resources by 61.1% in the first quarter. Duality Advisers LP now owns 131,196 shares of the oil and gas producer’s stock worth $3,112,000 after acquiring an additional 49,741 shares during the last quarter. Boston Partners purchased a new stake in shares of CNX Resources in the first quarter valued at $951,000. Moloney Securities Asset Management LLC acquired a new stake in shares of CNX Resources during the first quarter valued at $986,000. Finally, Allspring Global Investments Holdings LLC increased its position in CNX Resources by 243.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 72,656 shares of the oil and gas producer’s stock worth $1,723,000 after purchasing an additional 51,490 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insiders Place Their Bets

In related news, Director Bernard Lanigan, Jr. bought 75,000 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were acquired at an average cost of $26.81 per share, for a total transaction of $2,010,750.00. Following the acquisition, the director now owns 401,820 shares in the company, valued at $10,772,794.20. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 3.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CNX has been the topic of a number of recent research reports. Truist Financial upped their target price on shares of CNX Resources from $31.00 to $38.00 and gave the company a “buy” rating in a report on Monday, September 30th. StockNews.com downgraded shares of CNX Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd. Tudor, Pickering, Holt & Co. lowered shares of CNX Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. boosted their price target on CNX Resources from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Finally, BMO Capital Markets increased their price target on 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 investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $27.10.

Read Our Latest Report on CNX Resources

CNX Resources Stock Up 1.1 %

CNX opened at $35.85 on Thursday. The company has a market cap of $5.49 billion, a PE ratio of 6.49 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 1 year low of $19.07 and a 1 year high of $36.96. The firm has a 50 day moving average price of $30.48 and a 200 day moving average price of $26.80.

CNX Resources (NYSE:CNX – Get Free Report) last released its quarterly earnings data on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.09. CNX Resources had a net margin of 26.64% and a return on equity of 7.51%. The company had revenue of $321.44 million during the quarter, compared to analyst estimates of $387.46 million. During the same quarter in the prior year, the business earned $0.29 earnings per share. Sell-side analysts expect that CNX Resources Co. will post 1.43 earnings per share for the current year.

CNX Resources Profile

(Free Report)

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.

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