Paralel Advisors LLC Boosts Holdings in CNX Resources Co. (NYSE:CNX)

Paralel Advisors LLC boosted its position in CNX Resources Co. (NYSE:CNX) by 10.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 105,849 shares of the oil and gas producer’s stock after purchasing an additional 9,616 shares during the quarter. CNX Resources comprises about 0.2% of Paralel Advisors LLC’s holdings, making the stock its 28th largest position. Paralel Advisors LLC owned 0.07% of CNX Resources worth $3,881,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. lifted its stake in CNX Resources by 131.5% during the fourth quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer’s stock worth $34,000 after purchasing an additional 526 shares during the last quarter. Raymond James Financial Inc. acquired a new position in CNX Resources in the fourth quarter worth $14,268,000. Dynamic Technology Lab Private Ltd bought a new stake in CNX Resources in the fourth quarter valued at about $493,000. Resona Asset Management Co. Ltd. acquired a new position in shares of CNX Resources during the fourth quarter worth about $489,000. Finally, ExodusPoint Capital Management LP acquired a new position in CNX Resources during the fourth quarter valued at approximately $8,072,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

CNX Resources Trading Down 2.9 %

CNX traded down $0.84 on Thursday, hitting $28.51. 66,575 shares of the company were exchanged, compared to its average volume of 2,660,581. The firm has a fifty day simple moving average of $30.13 and a two-hundred day simple moving average of $33.29. 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 Co. has a 12 month low of $22.82 and a 12 month high of $41.93. The stock has a market capitalization of $4.20 billion, a PE ratio of -41.93, a price-to-earnings-growth ratio of 0.42 and a beta of 1.33.

CNX Resources (NYSE:CNX) last released its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share 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%. Sell-side analysts expect that CNX Resources Co. will post 2.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CNX. Roth Capital set a $30.00 price objective on CNX Resources in a report on Thursday, January 23rd. JPMorgan Chase & Co. boosted their target price on shares of CNX Resources from $32.00 to $33.00 and gave the company an “underweight” rating in a report on Thursday, March 13th. Mizuho increased their target price on CNX Resources from $34.00 to $35.00 and gave the company an “underperform” rating in a research note on Monday. Raymond James upgraded CNX Resources from an “underperform” rating to a “market perform” rating in a report on Tuesday, February 18th. Finally, Stephens upgraded shares of CNX Resources from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $35.00 to $48.00 in a report on Tuesday, March 18th. Nine equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $30.92.

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.