Bailard Inc. Purchases 6,200 Shares of CNX Resources Co. (NYSE:CNX)

Bailard Inc. boosted its holdings in shares of CNX Resources Co. (NYSE:CNX) by 46.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,500 shares of the oil and gas producer’s stock after acquiring an additional 6,200 shares during the quarter. Bailard Inc.’s holdings in CNX Resources were worth $715,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CNX. Principal Securities Inc. increased its stake in shares of CNX Resources by 38.5% during the 4th quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer’s stock worth $91,000 after purchasing an additional 691 shares during the last quarter. Blue Trust Inc. increased its stake in shares of CNX Resources by 65.1% during 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 during the last quarter. Heck Capital Advisors LLC acquired a new position in shares of CNX Resources during the 4th quarter worth $121,000. Oppenheimer Asset Management Inc. acquired a new position in shares of CNX Resources during the 3rd quarter worth $205,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of CNX Resources during the 3rd quarter worth $209,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at CNX Resources

In other news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of CNX Resources 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 of the company’s stock, valued at approximately $432,928,250. This trade represents a 7.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on CNX shares. TD Cowen assumed coverage on shares of CNX Resources in a research note on Wednesday, January 15th. They set a “hold” rating and a $27.00 price target on the stock. JPMorgan Chase & Co. lowered CNX Resources from a “neutral” rating to an “underweight” rating and increased their price objective for the company from $31.00 to $37.00 in a report on Thursday, December 5th. StockNews.com lowered CNX Resources from a “hold” rating to a “sell” rating in a report on Thursday, February 13th. Roth Capital set a $30.00 price objective on CNX Resources in a report on Thursday, January 23rd. Finally, Raymond James upgraded shares of CNX Resources from an “underperform” rating to a “market perform” rating in a research note on Tuesday, February 18th. Nine equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat, CNX Resources presently has an average rating of “Reduce” and an average target price of $29.69.

CNX Resources Stock Performance

NYSE CNX opened at $28.59 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32. The firm has a market capitalization of $4.26 billion, a price-to-earnings ratio of -42.04, a P/E/G ratio of 0.42 and a beta of 1.38. The company’s fifty day moving average is $30.78 and its two-hundred day moving average is $32.82. CNX Resources Co. has a 52-week low of $21.00 and a 52-week high of $41.93.

CNX Resources (NYSE:CNX) last posted its quarterly earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share (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%. Equities research analysts forecast that CNX Resources Co. will post 2.18 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.