Fox Run Management L.L.C. Buys Shares of 15,885 CNX Resources Co. (NYSE:CNX)

Fox Run Management L.L.C. purchased a new position in shares of CNX Resources Co. (NYSE:CNX) in the 4th quarter, Holdings Channel reports. The firm purchased 15,885 shares of the oil and gas producer’s stock, valued at approximately $583,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Geode Capital Management LLC boosted its holdings in CNX Resources by 0.3% during the third quarter. Geode Capital Management LLC now owns 3,602,837 shares of the oil and gas producer’s stock worth $117,366,000 after purchasing an additional 12,333 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of CNX Resources by 7.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,000,464 shares of the oil and gas producer’s stock valued at $73,357,000 after acquiring an additional 139,647 shares in the last quarter. Assetmark Inc. raised its holdings in CNX Resources by 2.2% during the fourth quarter. Assetmark Inc. now owns 885,429 shares of the oil and gas producer’s stock worth $32,469,000 after acquiring an additional 19,309 shares in the last quarter. Aureus Asset Management LLC raised its holdings in CNX Resources by 0.6% during the third quarter. Aureus Asset Management LLC now owns 642,289 shares of the oil and gas producer’s stock worth $20,919,000 after acquiring an additional 3,659 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in CNX Resources by 0.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 622,503 shares of the oil and gas producer’s stock valued at $22,827,000 after purchasing an additional 5,769 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CNX has been the topic of a number of analyst reports. Piper Sandler dropped their price objective on CNX Resources from $23.00 to $22.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 29th. TD Cowen started coverage on shares of CNX Resources in a research note on Wednesday, January 15th. They issued a “hold” rating and a $27.00 price target for the company. Stephens raised shares of CNX Resources from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $35.00 to $48.00 in a report on Tuesday, March 18th. Roth Capital set a $30.00 price target on CNX Resources in a report on Thursday, January 23rd. Finally, Morgan Stanley assumed coverage on CNX Resources in a research note on Friday, January 10th. They issued an “underweight” rating and a $29.00 price objective on the stock. Nine research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $30.38.

Insider Transactions at CNX Resources

In related news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the 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 $432,928,250. This represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 3.10% of the company’s stock.

CNX Resources Stock Performance

Shares of NYSE CNX opened at $31.86 on Tuesday. CNX Resources Co. has a one year low of $22.80 and a one year high of $41.93. 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 cap of $4.74 billion, a price-to-earnings ratio of -46.84, a P/E/G ratio of 0.42 and a beta of 1.26. The stock’s fifty day moving average price is $29.75 and its two-hundred day moving average price is $33.17.

CNX Resources (NYSE:CNX) last released its quarterly earnings results 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 negative net margin of 7.14% and a positive return on equity of 6.72%. On average, equities 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.