Xponance Inc. Has $766,000 Position in CNX Resources Co. (NYSE:CNX)

Xponance Inc. raised its stake in CNX Resources Co. (NYSE:CNX) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,876 shares of the oil and gas producer’s stock after acquiring an additional 588 shares during the period. Xponance Inc.’s holdings in CNX Resources were worth $766,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CNX. Raymond James Financial Inc. bought a new position in CNX Resources in the 4th quarter valued at $14,268,000. Empirical Asset Management LLC acquired a new stake in CNX Resources during the 4th quarter worth $9,281,000. Charles Schwab Investment Management Inc. grew its stake in shares of CNX Resources by 12.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,860,817 shares of the oil and gas producer’s stock worth $60,607,000 after purchasing an additional 202,890 shares during the period. Empowered Funds LLC lifted its stake in CNX Resources by 328.0% in the fourth quarter. Empowered Funds LLC now owns 211,719 shares of the oil and gas producer’s stock valued at $7,764,000 after buying an additional 162,247 shares during the period. Finally, Intech Investment Management LLC boosted its holdings in CNX Resources by 200.3% during the fourth quarter. Intech Investment Management LLC now owns 194,307 shares of the oil and gas producer’s stock worth $7,125,000 after buying an additional 129,605 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Analysts Set New Price Targets

CNX has been the topic of a number of analyst reports. Truist Financial increased their price target on shares of CNX Resources from $34.00 to $35.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Stephens raised shares of CNX Resources from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $35.00 to $48.00 in a research report on Tuesday, March 18th. Mizuho lowered their price objective on shares of CNX Resources from $38.00 to $34.00 and set an “underperform” rating for the company in a research report on Tuesday, January 14th. StockNews.com cut CNX Resources from a “hold” rating to a “sell” rating in a research note on Thursday, February 13th. Finally, Roth Capital set a $30.00 price target on CNX Resources in a research report on Thursday, January 23rd. Nine equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $30.38.

Insider Activity at CNX Resources

In other news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $31.09, for a total transaction of $33,421,750.00. Following the sale, the insider now owns 13,925,000 shares in the company, valued at $432,928,250. This represents a 7.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 3.10% of the company’s stock.

CNX Resources Stock Performance

Shares of CNX opened at $31.86 on Tuesday. The stock has a market capitalization of $4.74 billion, a price-to-earnings ratio of -46.84, a PEG ratio of 0.42 and a beta of 1.26. CNX Resources Co. has a 12 month low of $22.80 and a 12 month high of $41.93. The firm has a fifty day simple moving average of $29.75 and a 200 day simple moving average of $33.17. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 0.45.

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 negative net margin of 7.14% and a positive return on equity of 6.72%. Research analysts forecast that CNX Resources Co. will post 2.18 EPS for the current fiscal year.

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.