Sierra Summit Advisors LLC Has $696,000 Stock Position in CNX Resources Co. (NYSE:CNX)

Sierra Summit Advisors LLC lifted its stake in CNX Resources Co. (NYSE:CNX) by 7.7% in the second quarter, HoldingsChannel reports. The institutional investor owned 28,657 shares of the oil and gas producer’s stock after buying an additional 2,042 shares during the quarter. Sierra Summit Advisors LLC’s holdings in CNX Resources were worth $696,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Mizuho Markets Americas LLC acquired a new position in CNX Resources during the second quarter worth $97,200,000. American Century Companies Inc. increased its position in shares of CNX Resources by 12.0% during the 2nd quarter. American Century Companies Inc. now owns 3,699,186 shares of the oil and gas producer’s stock worth $89,890,000 after purchasing an additional 397,729 shares in the last quarter. LSV Asset Management lifted its holdings in CNX Resources by 1.4% during the 2nd quarter. LSV Asset Management now owns 1,780,921 shares of the oil and gas producer’s stock valued at $43,276,000 after purchasing an additional 23,800 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in CNX Resources by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,455,350 shares of the oil and gas producer’s stock valued at $29,107,000 after purchasing an additional 9,356 shares during the last quarter. Finally, Tributary Capital Management LLC boosted its position in CNX Resources by 0.3% in the second quarter. Tributary Capital Management LLC now owns 901,940 shares of the oil and gas producer’s stock valued at $21,917,000 after buying an additional 2,535 shares in the last quarter. Institutional investors own 95.16% of the company’s stock.

CNX Resources Price Performance

CNX Resources stock opened at $27.34 on Monday. The stock has a market cap of $4.13 billion, a price-to-earnings ratio of 4.95 and a beta of 1.37. CNX Resources Co. has a 12-month low of $19.07 and a 12-month high of $28.23. The company has a quick ratio of 0.40, a current ratio of 0.41 and a debt-to-equity ratio of 0.46. The business’s 50-day simple moving average is $26.35 and its 200 day simple moving average is $24.72.

CNX Resources (NYSE:CNX) last issued its earnings results on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share (EPS) for the quarter, beating 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 quarter last year, the firm earned $0.29 EPS. As a group, research analysts anticipate that CNX Resources Co. will post 1.47 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CNX shares. Truist Financial lifted their target price on shares of CNX Resources from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. lifted their price objective on CNX Resources from $26.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday. Piper Sandler lowered CNX Resources from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $22.00 to $20.00 in a research note on Thursday, August 15th. Scotiabank upped their price target on shares of CNX Resources from $25.00 to $27.00 and gave the stock a “sector underperform” rating in a research report on Tuesday, August 20th. Finally, Stephens reissued an “equal weight” rating and set a $27.00 price objective on shares of CNX Resources in a report on Monday, July 15th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $25.75.

Insider Buying and Selling at CNX Resources

In other CNX Resources news, Director Bernard Lanigan, Jr. bought 75,000 shares of the company’s stock in a transaction on Monday, September 9th. The stock was bought at an average price of $26.81 per share, for a total transaction of $2,010,750.00. Following the transaction, the director now owns 401,820 shares of the company’s stock, valued at approximately $10,772,794.20. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 3.10% of the company’s stock.

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.