Geode Capital Management LLC Purchases 12,333 Shares of CNX Resources Co. (NYSE:CNX)

Geode Capital Management LLC increased its position in CNX Resources Co. (NYSE:CNX) by 0.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,602,837 shares of the oil and gas producer’s stock after buying an additional 12,333 shares during the quarter. Geode Capital Management LLC owned 2.41% of CNX Resources worth $117,366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of CNX. Blue Trust Inc. lifted its holdings in shares of CNX Resources by 135.4% in 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 during the last quarter. CWM LLC raised its position in CNX Resources by 77.0% in the 3rd quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock worth $70,000 after purchasing an additional 935 shares during the period. GAMMA Investing LLC lifted its stake in CNX Resources by 62.1% in the third quarter. GAMMA Investing LLC now owns 3,073 shares of the oil and gas producer’s stock worth $100,000 after purchasing an additional 1,177 shares during the last quarter. Innealta Capital LLC purchased a new stake in CNX Resources during the second quarter valued at about $131,000. Finally, Atomi Financial Group Inc. bought a new position in shares of CNX Resources during the third quarter valued at about $202,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Analyst Ratings Changes

CNX has been the subject of several analyst reports. Capital One Financial cut CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 target price for the company. in a report on Monday, October 14th. Bank of America began coverage on shares of CNX Resources in a report on Monday, October 28th. They issued an “underperform” rating and a $34.00 target price on the stock. BMO Capital Markets upped their price target on shares of CNX Resources from $26.00 to $29.00 and gave the company a “market perform” rating in a report on Friday, October 4th. JPMorgan Chase & Co. lowered shares of CNX Resources from a “neutral” rating to an “underweight” rating and raised their price target for the stock from $31.00 to $37.00 in a report on Thursday, December 5th. Finally, Mizuho downgraded shares of CNX Resources from a “neutral” rating to an “underperform” rating and upped their price objective for the company from $33.00 to $38.00 in a research note on Monday. Eight research analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $30.50.

CNX Resources Stock Performance

Shares of CNX opened at $36.53 on Wednesday. The company has a 50-day simple moving average of $37.36 and a two-hundred day simple moving average of $30.60. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.37 and a quick ratio of 0.36. The firm has a market capitalization of $5.45 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 1.85 and a beta of 1.43. CNX Resources Co. has a one year low of $19.07 and a one year high of $41.93.

CNX Resources (NYSE:CNX) last released its earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.09. The company had revenue of $424.21 million during the quarter, compared to analysts’ expectations of $398.33 million. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. During the same quarter last year, the business posted $0.35 EPS. On average, analysts anticipate that CNX Resources Co. will post 1.54 EPS for the current fiscal 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.