Wedge Capital Management L L P NC Purchases 1,176 Shares of CNX Resources Co. (NYSE:CNX)

Wedge Capital Management L L P NC increased its position in shares of CNX Resources Co. (NYSE:CNX) by 0.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 290,261 shares of the oil and gas producer’s stock after buying an additional 1,176 shares during the period. Wedge Capital Management L L P NC’s holdings in CNX Resources were worth $5,805,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of CNX. Invesco Ltd. lifted its position in shares of CNX Resources by 11.7% during the 3rd quarter. Invesco Ltd. now owns 3,587,664 shares of the oil and gas producer’s stock valued at $81,009,000 after acquiring an additional 376,245 shares during the period. American Century Companies Inc. raised its holdings in shares of CNX Resources by 11.2% during the third quarter. American Century Companies Inc. now owns 2,154,145 shares of the oil and gas producer’s stock valued at $48,641,000 after purchasing an additional 217,753 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of CNX Resources by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,445,994 shares of the oil and gas producer’s stock worth $32,651,000 after purchasing an additional 15,283 shares in the last quarter. Brandywine Global Investment Management LLC grew its stake in shares of CNX Resources by 5.1% in the 3rd quarter. Brandywine Global Investment Management LLC now owns 927,237 shares of the oil and gas producer’s stock valued at $20,937,000 after buying an additional 44,690 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new stake in CNX Resources in the 3rd quarter valued at about $19,018,000. Institutional investors own 95.16% of the company’s stock.

CNX Resources Stock Performance

NYSE CNX opened at $24.07 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.51 and a quick ratio of 0.49. The company has a fifty day moving average price of $22.33 and a 200-day moving average price of $21.38. CNX Resources Co. has a 1 year low of $14.36 and a 1 year high of $24.82. The firm has a market cap of $3.69 billion, a price-to-earnings ratio of 2.65 and a beta of 1.33.

CNX Resources (NYSE:CNX) last issued its quarterly earnings data on Thursday, January 25th. The oil and gas producer reported $2.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $2.59. CNX Resources had a net margin of 50.34% and a return on equity of 9.00%. The business had revenue of $999.50 million during the quarter, compared to the consensus estimate of $401.62 million. During the same period in the prior year, the firm posted $1.64 EPS. The firm’s quarterly revenue was down 38.9% compared to the same quarter last year. As a group, equities research analysts predict that CNX Resources Co. will post 1.29 EPS for the current fiscal year.

Analysts Set New Price Targets

CNX has been the topic of several recent research reports. Scotiabank increased their price target on CNX Resources from $20.00 to $25.00 and gave the stock a “sector underperform” rating in a report on Thursday, April 11th. Piper Sandler lifted their price target on shares of CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday, April 19th. Mizuho upped their price objective on shares of CNX Resources from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Roth Mkm raised their price objective on shares of CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Finally, Bank of America raised shares of CNX Resources from an “underperform” rating to a “neutral” rating and set a $23.00 target price for the company in a research report on Friday, January 5th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $24.43.

Insider Activity at CNX Resources

In other news, EVP Timothy Scott Bedard sold 1,226 shares of CNX Resources stock in a transaction on Monday, February 26th. The stock was sold at an average price of $20.83, for a total transaction of $25,537.58. Following the sale, the executive vice president now directly owns 67,982 shares in the company, valued at approximately $1,416,065.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.65% of the stock is currently owned by company insiders.

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.