CNX Resources Co. (NYSE:CNX) Stake Boosted by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC increased its position in shares of CNX Resources Co. (NYSE:CNX) by 7.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,657 shares of the oil and gas producer’s stock after acquiring an additional 2,042 shares during the period. Sierra Summit Advisors LLC’s holdings in CNX Resources were worth $696,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CNX. GAMMA Investing LLC raised its stake in shares of 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 worth $46,000 after purchasing an additional 666 shares in the last quarter. Hexagon Capital Partners LLC raised its position in CNX Resources by 113.4% during the first quarter. Hexagon Capital Partners LLC now owns 2,138 shares of the oil and gas producer’s stock valued at $51,000 after acquiring an additional 1,136 shares in the last quarter. First Eagle Investment Management LLC acquired a new stake in CNX Resources in the fourth quarter valued at approximately $55,000. Natixis bought a new stake in CNX Resources in the first quarter worth approximately $79,000. Finally, Innealta Capital LLC acquired a new position in shares of CNX Resources during the 2nd quarter worth $131,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insider Buying and Selling

In other news, Director Bernard Lanigan, Jr. purchased 75,000 shares of the business’s stock in a transaction on Monday, September 9th. The stock was purchased at an average price of $26.81 per share, with a total value of $2,010,750.00. Following the acquisition, the director now directly owns 401,820 shares in the company, valued at approximately $10,772,794.20. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 3.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CNX has been the subject of a number of recent research reports. Truist Financial upped their price objective on shares of CNX Resources from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. increased their price objective on CNX Resources from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Thursday. Stephens restated an “equal weight” rating and issued a $27.00 target price on shares of CNX Resources in a report on Monday, July 15th. Scotiabank increased their price target on CNX Resources from $25.00 to $27.00 and gave the company a “sector underperform” rating in a report on Tuesday, August 20th. Finally, StockNews.com cut shares of CNX Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $25.75.

CNX Resources Stock Up 1.1 %

CNX opened at $27.34 on Monday. CNX Resources Co. has a 1-year low of $19.07 and a 1-year high of $28.23. The business has a 50 day moving average of $26.35 and a 200-day moving average of $24.72. The stock has a market capitalization of $4.13 billion, a price-to-earnings ratio of 4.95 and a beta of 1.37. The company has a current ratio of 0.41, a quick ratio of 0.40 and a debt-to-equity ratio of 0.46.

CNX Resources (NYSE:CNX) last posted its quarterly earnings results 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. The company had revenue of $321.44 million for the quarter, compared to analyst estimates of $387.46 million. CNX Resources had a net margin of 26.64% and a return on equity of 7.51%. During the same period last year, the business posted $0.29 EPS. As a group, sell-side analysts anticipate that CNX Resources Co. will post 1.47 earnings per share for the current year.

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.