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

SwitchPoint Financial Planning LLC bought a new stake in CNX Resources Co. (NYSE:CNX) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 6,443 shares of the oil and gas producer’s stock, valued at approximately $236,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CNX. Stevens Capital Management LP acquired a new stake in CNX Resources in the fourth quarter worth about $205,000. Fox Run Management L.L.C. acquired a new stake in shares of CNX Resources during the 4th quarter worth approximately $583,000. KLP Kapitalforvaltning AS bought a new stake in shares of CNX Resources during the fourth quarter worth approximately $2,464,000. Quantbot Technologies LP acquired a new position in CNX Resources in the fourth quarter valued at approximately $2,708,000. Finally, Semanteon Capital Management LP boosted its stake in CNX Resources by 75.6% in the fourth quarter. Semanteon Capital Management LP now owns 15,191 shares of the oil and gas producer’s stock valued at $557,000 after acquiring an additional 6,542 shares during the last quarter. Institutional investors own 95.16% of the company’s stock.

Insider Buying and Selling

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the company’s 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 completion of 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CNX has been the subject of several recent research reports. TD Cowen began 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 for the company. Raymond James upgraded CNX Resources from an “underperform” rating to a “market perform” rating in a report on Tuesday, February 18th. Piper Sandler cut their target price 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. Morgan Stanley started coverage on CNX Resources in a research report on Friday, January 10th. They set an “underweight” rating and a $29.00 target price for the company. Finally, Roth Capital set a $30.00 price target on shares of CNX Resources in a research report on Thursday, January 23rd. Nine equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $30.38.

CNX Resources Stock Down 1.1 %

Shares of CNX stock opened at $31.53 on Wednesday. The company has a market capitalization of $4.69 billion, a price-to-earnings ratio of -46.37, a P/E/G ratio of 0.42 and a beta of 1.26. CNX Resources Co. has a 12-month low of $22.81 and a 12-month high of $41.93. The firm has a fifty day moving average of $29.77 and a 200-day moving average of $33.20. 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 (NYSE:CNX) last released its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.14. CNX Resources had a positive return on equity of 6.72% and a negative net margin of 7.14%. As a group, equities research analysts predict that CNX Resources Co. will post 2.18 earnings per share for the current fiscal 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.