Paloma Partners Management Co Invests $229,000 in CNX Resources Co. (NYSE:CNX)

Paloma Partners Management Co bought a new position in CNX Resources Co. (NYSE:CNX) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 9,642 shares of the oil and gas producer’s stock, valued at approximately $229,000.

Other hedge funds also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd acquired a new stake in shares of CNX Resources in the 4th quarter worth $798,000. Parkwood LLC increased its holdings in shares of CNX Resources by 11.2% in the 4th quarter. Parkwood LLC now owns 490,435 shares of the oil and gas producer’s stock valued at $9,809,000 after purchasing an additional 49,278 shares in the last quarter. Duality Advisers LP increased its holdings in shares of CNX Resources by 61.1% in the 1st quarter. Duality Advisers LP now owns 131,196 shares of the oil and gas producer’s stock valued at $3,112,000 after purchasing an additional 49,741 shares in the last quarter. Moloney Securities Asset Management LLC purchased a new position in shares of CNX Resources in the 1st quarter valued at about $986,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of CNX Resources by 243.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 72,656 shares of the oil and gas producer’s stock valued at $1,723,000 after purchasing an additional 51,490 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

CNX Resources Trading Up 1.7 %

Shares of NYSE CNX traded up $0.43 during midday trading on Tuesday, reaching $26.20. 1,284,597 shares of the stock were exchanged, compared to its average volume of 2,821,123. The company has a market capitalization of $3.96 billion, a P/E ratio of 4.67 and a beta of 1.38. CNX Resources Co. has a 52-week low of $19.07 and a 52-week high of $26.60. 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 moving average price of $25.16 and a 200-day moving average price of $23.15.

CNX Resources (NYSE:CNX) last issued its quarterly earnings results on Thursday, July 25th. The oil and gas producer reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.09. The business had revenue of $321.44 million during the quarter, compared to the consensus estimate 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 in the previous year, the firm posted $0.29 earnings per share. Equities research analysts expect that CNX Resources Co. will post 1.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Roth Mkm raised their target price on shares of CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. StockNews.com upgraded shares of CNX Resources from a “sell” rating to a “hold” rating in a report on Friday. Scotiabank raised their target price on shares of CNX Resources from $20.00 to $25.00 and gave the company a “sector underperform” rating in a report on Thursday, April 11th. Truist Financial raised their target price on shares of CNX Resources from $30.00 to $31.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Finally, Mizuho raised their target price on shares of CNX Resources from $25.00 to $29.00 and gave the company a “neutral” rating in a report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, CNX Resources currently has a consensus rating of “Hold” and a consensus price target of $25.57.

CNX Resources 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.