VSM Wealth Advisory LLC Takes Position in CNX Resources Co. (NYSE:CNX)

VSM Wealth Advisory LLC acquired a new position in shares of CNX Resources Co. (NYSE:CNX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,500 shares of the oil and gas producer’s stock, valued at approximately $55,000.

Other large investors have also added to or reduced their stakes in the company. Principal Securities Inc. lifted its holdings in shares of CNX Resources by 38.5% in the fourth quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer’s stock worth $91,000 after buying an additional 691 shares in the last quarter. Blue Trust Inc. lifted its stake in CNX Resources by 65.1% in the 4th quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer’s stock worth $119,000 after purchasing an additional 1,280 shares in the last quarter. Heck Capital Advisors LLC bought a new position in CNX Resources in the 4th quarter valued at $121,000. Oppenheimer Asset Management Inc. bought a new position in CNX Resources in the 3rd quarter valued at $205,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of CNX Resources in the third quarter worth $209,000. Institutional investors own 95.16% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CNX. Truist Financial lifted their price objective on CNX Resources from $34.00 to $35.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Raymond James upgraded CNX Resources from an “underperform” rating to a “market perform” rating in a research report on Tuesday, February 18th. Stephens upgraded shares of CNX Resources from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $35.00 to $48.00 in a research report on Tuesday. Morgan Stanley started coverage on shares of CNX Resources in a research report on Friday, January 10th. They set an “underweight” rating and a $29.00 target price for the company. Finally, JPMorgan Chase & Co. increased their price target on shares of CNX Resources from $32.00 to $33.00 and gave the stock an “underweight” rating in a report on Thursday, March 13th. Nine investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $30.38.

CNX Resources Stock Performance

CNX Resources stock opened at $32.46 on Thursday. The firm has a fifty day simple moving average of $29.66 and a two-hundred day simple moving average of $33.03. CNX Resources Co. has a twelve month low of $21.29 and a twelve month high of $41.93. The company has a market capitalization of $4.83 billion, a PE ratio of -47.73, a P/E/G ratio of 0.42 and a beta of 1.26. The company has a quick ratio of 0.32, a current ratio of 0.33 and a debt-to-equity ratio of 0.45.

CNX Resources (NYSE:CNX) last issued its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share for the quarter, beating 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%. Research analysts expect that CNX Resources Co. will post 2.18 EPS for the current year.

Insider Activity

In related news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $31.09, for a total transaction of $33,421,750.00. Following the completion of the sale, the insider now directly owns 13,925,000 shares in the company, 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 through this link. Insiders own 3.10% of the company’s stock.

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.