Heck Capital Advisors LLC Acquires Shares of 3,300 CNX Resources Co. (NYSE:CNX)

Heck Capital Advisors LLC bought a new position in CNX Resources Co. (NYSE:CNX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,300 shares of the oil and gas producer’s stock, valued at approximately $121,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CNX. Geode Capital Management LLC grew its holdings in CNX Resources by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,602,837 shares of the oil and gas producer’s stock worth $117,366,000 after acquiring an additional 12,333 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of CNX Resources by 12.2% in 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 last quarter. Aureus Asset Management LLC increased its holdings in CNX Resources by 0.6% during the 3rd quarter. Aureus Asset Management LLC now owns 642,289 shares of the oil and gas producer’s stock valued at $20,919,000 after purchasing an additional 3,659 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in CNX Resources by 311.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 616,734 shares of the oil and gas producer’s stock valued at $20,087,000 after purchasing an additional 466,694 shares during the last quarter. Finally, Empirical Asset Management LLC purchased a new stake in CNX Resources in the 4th quarter worth approximately $9,281,000. 95.16% of the stock is currently owned by institutional investors.

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 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 transaction, the insider now directly owns 13,925,000 shares of the company’s stock, valued at $432,928,250. This represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.10% of the stock is owned by insiders.

CNX Resources Trading Down 0.3 %

NYSE CNX opened at $27.41 on Monday. The stock’s fifty day moving average price is $34.35 and its 200-day moving average price is $32.24. The company has a current ratio of 0.37, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46. The stock has a market cap of $4.09 billion, a P/E ratio of 8.62, a P/E/G ratio of 0.37 and a beta of 1.42. CNX Resources Co. has a 12 month low of $19.07 and a 12 month high of $41.93.

CNX Resources (NYSE:CNX) last announced its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.57 EPS for the quarter, beating the consensus estimate of $0.43 by $0.14. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. As a group, equities analysts forecast that CNX Resources Co. will post 1.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Mizuho reduced their target price on CNX Resources from $38.00 to $34.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 14th. Bank of America assumed coverage on shares of CNX Resources in a report on Monday, October 28th. They issued an “underperform” rating and a $34.00 price objective for the company. Piper Sandler cut their target price on shares of CNX Resources from $23.00 to $22.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 29th. JPMorgan Chase & Co. downgraded shares of CNX Resources from a “neutral” rating to an “underweight” rating and increased their price target for the stock from $31.00 to $37.00 in a research note on Thursday, December 5th. Finally, Morgan Stanley began coverage on CNX Resources in a research report on Friday, January 10th. They set an “underweight” rating and a $29.00 price objective on the stock. Nine research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $29.67.

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.