Jackson Creek Investment Advisors LLC Purchases New Position in CNX Resources Co. (NYSE:CNX)

Jackson Creek Investment Advisors LLC purchased a new stake in CNX Resources Co. (NYSE:CNX) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 42,859 shares of the oil and gas producer’s stock, valued at approximately $1,572,000.

Other hedge funds have also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of 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 purchasing an additional 466,694 shares during the last quarter. Raymond James Financial Inc. acquired a new position in CNX Resources in the fourth quarter valued at about $14,268,000. Empirical Asset Management LLC bought a new stake in CNX Resources during the fourth quarter worth about $9,281,000. Charles Schwab Investment Management Inc. increased its holdings 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 buying an additional 202,890 shares in the last quarter. Finally, Empowered Funds LLC raised its stake in shares of CNX Resources by 328.0% in the fourth quarter. Empowered Funds LLC now owns 211,719 shares of the oil and gas producer’s stock valued at $7,764,000 after acquiring an additional 162,247 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on CNX. JPMorgan Chase & Co. lowered CNX Resources from a “neutral” rating to an “underweight” rating and increased their price target for the stock from $31.00 to $37.00 in a research report on Thursday, December 5th. Raymond James upgraded CNX Resources from an “underperform” rating to a “market perform” rating in a report on Tuesday, February 18th. Mizuho cut their price target on CNX Resources from $38.00 to $34.00 and set an “underperform” rating for the company in a report on Tuesday, January 14th. 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 price target on the stock. Finally, StockNews.com cut shares of CNX Resources from a “hold” rating to a “sell” rating in a research report on Thursday, February 13th. Nine research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat.com, CNX Resources presently has an average rating of “Reduce” and an average target price of $29.69.

Insider Buying and Selling at CNX Resources

In related news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were 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 in the company, valued at approximately $432,928,250. The trade was a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.10% of the company’s stock.

CNX Resources Trading Down 2.6 %

Shares of NYSE CNX opened at $28.83 on Friday. CNX Resources Co. has a fifty-two week low of $21.00 and a fifty-two week high of $41.93. The firm has a market capitalization of $4.29 billion, a P/E ratio of -42.39, a P/E/G ratio of 0.42 and a beta of 1.38. 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 company’s 50 day simple moving average is $30.51 and its 200 day simple moving average is $32.82.

CNX Resources (NYSE:CNX) last posted its quarterly earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share for the quarter, beating 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%. On average, analysts predict that CNX Resources Co. will post 2.18 EPS for the current year.

CNX Resources Company Profile

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.