SwitchPoint Financial Planning LLC Invests $236,000 in CNX Resources Co. (NYSE:CNX)

SwitchPoint Financial Planning LLC acquired a new stake in shares of CNX Resources Co. (NYSE:CNX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,443 shares of the oil and gas producer’s stock, valued at approximately $236,000.

A number of other institutional investors have also made changes to their positions in the stock. Harvest Fund Management Co. Ltd acquired a new stake in shares of CNX Resources in the fourth quarter valued at about $39,000. VSM Wealth Advisory LLC acquired a new stake in CNX Resources in the 4th quarter valued at approximately $55,000. Principal Securities Inc. grew its holdings in CNX Resources by 38.5% in the 4th quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer’s stock valued at $91,000 after buying an additional 691 shares during the last quarter. Blue Trust Inc. increased its position in CNX Resources by 65.1% in the 4th quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer’s stock worth $119,000 after buying an additional 1,280 shares during the period. Finally, Heck Capital Advisors LLC acquired a new position in shares of CNX Resources during the fourth quarter worth approximately $121,000. 95.16% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CNX has been the topic of a number of research reports. TD Cowen started coverage on shares of CNX Resources in a research report on Wednesday, January 15th. They set a “hold” rating and a $27.00 target price on the stock. JPMorgan Chase & Co. boosted their price objective on shares of CNX Resources from $32.00 to $33.00 and gave the stock an “underweight” rating in a report on Thursday, March 13th. StockNews.com cut shares of CNX Resources from a “hold” rating to a “sell” rating in a research note on Thursday, February 13th. Raymond James raised CNX Resources from an “underperform” rating to a “market perform” rating in a research report on Tuesday, February 18th. Finally, Piper Sandler cut their price target on CNX Resources from $23.00 to $22.00 and set an “underweight” rating for the company in a report on Wednesday, January 29th. Nine analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $30.38.

CNX Resources Stock Down 1.1 %

CNX opened at $31.53 on Wednesday. CNX Resources Co. has a twelve month low of $22.81 and a twelve month high of $41.93. The firm has a market cap of $4.69 billion, a price-to-earnings ratio of -46.37, a PEG ratio of 0.42 and a beta of 1.26. The firm’s 50-day simple moving average is $29.77 and its 200-day simple moving average is $33.20. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.32 and a current ratio of 0.33.

CNX Resources (NYSE:CNX) last posted its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share for the quarter, topping 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%. Equities research analysts anticipate that CNX Resources Co. will post 2.18 EPS for the current fiscal year.

Insider Activity at CNX Resources

In other news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the 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 sale, the insider now owns 13,925,000 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. 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.