CNX Resources Co. (NYSE:CNX) Shares Acquired by Pullen Investment Management LLC

Pullen Investment Management LLC boosted its position in shares of CNX Resources Co. (NYSE:CNX) by 14.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,310 shares of the oil and gas producer’s stock after purchasing an additional 3,911 shares during the period. Pullen Investment Management LLC’s holdings in CNX Resources were worth $1,020,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CNX. GAMMA Investing LLC grew its holdings in CNX Resources by 54.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock valued at $46,000 after purchasing an additional 666 shares in the last quarter. Hexagon Capital Partners LLC grew its holdings in CNX Resources by 113.4% during the 1st quarter. Hexagon Capital Partners LLC now owns 2,138 shares of the oil and gas producer’s stock worth $51,000 after acquiring an additional 1,136 shares in the last quarter. Blue Trust Inc. grew its holdings in CNX Resources by 135.4% during 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 grew its holdings in CNX Resources by 77.0% during the 3rd quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock worth $70,000 after acquiring an additional 935 shares in the last quarter. Finally, Natixis acquired a new position in CNX Resources during the 1st quarter worth $79,000. 95.16% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at CNX Resources

In other CNX Resources news, Director Bernard Lanigan, Jr. acquired 75,000 shares of CNX Resources stock in a transaction dated Monday, September 9th. The stock was acquired at an average cost of $26.81 per share, for a total transaction of $2,010,750.00. Following the completion of the transaction, the director now owns 401,820 shares in the company, valued at approximately $10,772,794.20. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 3.10% of the company’s stock.

Wall Street Analysts Forecast Growth

CNX has been the subject of several recent analyst reports. BMO Capital Markets raised their price objective on shares of CNX Resources from $26.00 to $29.00 and gave the stock a “market perform” rating in a report on Friday, October 4th. Truist Financial raised their price objective on shares of CNX Resources from $31.00 to $38.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Piper Sandler lowered shares of CNX Resources from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $22.00 to $20.00 in a report on Thursday, August 15th. Capital One Financial lowered shares of CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 price objective for the company. in a report on Monday, October 14th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of CNX Resources from $26.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $27.90.

CNX Resources Stock Performance

Shares of NYSE CNX opened at $36.57 on Friday. The company has a current ratio of 0.41, a quick ratio of 0.40 and a debt-to-equity ratio of 0.46. The stock has a 50 day simple moving average of $30.89 and a 200-day simple moving average of $26.98. The company has a market cap of $5.60 billion, a PE ratio of 6.63 and a beta of 1.38. CNX Resources Co. has a 12-month low of $19.07 and a 12-month high of $37.57.

CNX Resources (NYSE:CNX) last issued its quarterly earnings data on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share (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 return on equity of 7.51% and a net margin of 26.64%. During the same period in the previous year, the firm posted $0.35 earnings per share. On average, equities research analysts forecast that CNX Resources Co. will post 1.43 EPS for the current year.

About CNX Resources

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.