Brown Lisle Cummings Inc. Makes New $299,000 Investment in CNX Resources Co. (NYSE:CNX)

Brown Lisle Cummings Inc. acquired a new stake in shares of CNX Resources Co. (NYSE:CNX) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 8,150 shares of the oil and gas producer’s stock, valued at approximately $299,000.

A number of other large investors also recently modified their holdings of CNX. Connor Clark & Lunn Investment Management Ltd. increased its stake in CNX Resources by 311.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 616,734 shares of the oil and gas producer’s stock worth $20,087,000 after buying an additional 466,694 shares in the last quarter. Empirical Asset Management LLC bought a new position in shares of CNX Resources in the fourth quarter worth about $9,281,000. Charles Schwab Investment Management Inc. grew its position in shares of CNX Resources by 12.2% during 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 in the last quarter. Riverwater Partners LLC raised its stake in CNX Resources by 124.2% during the 3rd quarter. Riverwater Partners LLC now owns 146,363 shares of the oil and gas producer’s stock valued at $4,839,000 after purchasing an additional 81,092 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in CNX Resources by 231.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 104,361 shares of the oil and gas producer’s stock worth $3,399,000 after purchasing an additional 72,914 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Capital One Financial cut shares of CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 price objective on the stock. in a research report on Monday, October 14th. TD Cowen began 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 on the stock. Morgan Stanley assumed coverage on CNX Resources in a research report on Friday, January 10th. They set an “underweight” rating and a $29.00 price objective for the company. Truist Financial boosted their target price on CNX Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Finally, Stephens raised their price target on CNX Resources from $26.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Eight investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $29.67.

Insider Activity

In other CNX Resources 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 value of $33,421,750.00. Following the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 4.65% of the company’s stock.

CNX Resources Stock Up 3.1 %

Shares of CNX opened at $28.46 on Wednesday. The company has a quick ratio of 0.32, a current ratio of 0.33 and a debt-to-equity ratio of 0.45. CNX Resources Co. has a 52-week low of $19.07 and a 52-week high of $41.93. The company has a market cap of $4.25 billion, a PE ratio of -41.84, a P/E/G ratio of 0.36 and a beta of 1.38. The business has a fifty day moving average of $33.85 and a 200 day moving average of $32.27.

CNX Resources (NYSE:CNX) last issued 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, sell-side analysts expect that CNX Resources Co. will post 2.36 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.