Heck Capital Advisors LLC Purchases New Position in CNX Resources Co. (NYSE:CNX)

Heck Capital Advisors LLC purchased a new stake in CNX Resources Co. (NYSE:CNX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,300 shares of the oil and gas producer’s stock, valued at approximately $121,000.

Several other hedge funds have also recently modified their holdings of the company. Bessemer Group Inc. raised its holdings in shares of CNX Resources by 131.5% in the 4th 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 period. Xponance Inc. raised its holdings in shares of CNX Resources by 2.9% in the 4th quarter. Xponance Inc. now owns 20,876 shares of the oil and gas producer’s stock worth $766,000 after purchasing an additional 588 shares during the period. Principal Securities Inc. raised its holdings in shares of 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 worth $91,000 after purchasing an additional 691 shares during the period. SeaBridge Investment Advisors LLC raised its holdings in shares of CNX Resources by 0.8% in the 4th quarter. SeaBridge Investment Advisors LLC now owns 90,301 shares of the oil and gas producer’s stock worth $3,311,000 after purchasing an additional 759 shares during the period. Finally, Pullen Investment Management LLC raised its holdings in shares of CNX Resources by 2.7% in the 4th quarter. Pullen Investment Management LLC now owns 32,151 shares of the oil and gas producer’s stock worth $1,179,000 after purchasing an additional 841 shares during the period. Institutional investors own 95.16% of the company’s stock.

CNX Resources Stock Up 1.4%

CNX opened at $31.65 on Tuesday. CNX Resources Co. has a one year low of $23.63 and a one year high of $41.93. 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 firm has a market capitalization of $4.58 billion, a P/E ratio of -46.54, a price-to-earnings-growth ratio of 0.42 and a beta of 0.62. The company has a fifty day moving average price of $30.83 and a 200-day moving average price of $32.43.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CNX shares. Stephens raised shares of CNX Resources from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $35.00 to $48.00 in a report on Tuesday, March 18th. Piper Sandler lifted their price objective on shares of CNX Resources from $21.00 to $25.00 and gave the company an “underweight” rating in a research note on Tuesday, May 13th. JPMorgan Chase & Co. lifted their price objective on shares of CNX Resources from $32.00 to $33.00 and gave the company an “underweight” rating in a research note on Thursday, March 13th. Morgan Stanley reiterated an “underweight” rating and issued a $31.00 price objective on shares of CNX Resources in a research note on Tuesday, April 15th. Finally, Cowen reiterated a “hold” rating on shares of CNX Resources in a research note on Friday, April 25th. Eight equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $31.58.

Insider Transactions at CNX Resources

In other CNX Resources news, Director J. Palmer Clarkson purchased 10,000 shares of the stock in a transaction on Monday, May 12th. The stock was acquired at an average cost of $31.20 per share, with a total value of $312,000.00. Following the completion of the purchase, the director now directly owns 245,433 shares of the company’s stock, valued at approximately $7,657,509.60. This trade represents a 4.25% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.10% of the stock is currently owned by insiders.

CNX Resources 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.