Seven Eight Capital LP Has $1.80 Million Position in CNX Resources Co. (NYSE:CNX)

Seven Eight Capital LP cut its stake in shares of CNX Resources Co. (NYSE:CNX) by 26.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 75,789 shares of the oil and gas producer’s stock after selling 27,889 shares during the quarter. Seven Eight Capital LP’s holdings in CNX Resources were worth $1,798,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in CNX. LSV Asset Management increased its holdings in shares of CNX Resources by 18.0% during the first quarter. LSV Asset Management now owns 1,757,121 shares of the oil and gas producer’s stock worth $41,679,000 after buying an additional 267,768 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in CNX Resources by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,455,350 shares of the oil and gas producer’s stock worth $29,107,000 after purchasing an additional 9,356 shares in the last quarter. Capital Management Corp VA raised its position in CNX Resources by 25.2% in the fourth quarter. Capital Management Corp VA now owns 736,283 shares of the oil and gas producer’s stock valued at $14,726,000 after purchasing an additional 148,037 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of CNX Resources by 11.2% during the first quarter. Principal Financial Group Inc. now owns 659,497 shares of the oil and gas producer’s stock valued at $15,643,000 after purchasing an additional 66,528 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in shares of CNX Resources by 10.9% during the fourth quarter. Allianz Asset Management GmbH now owns 593,632 shares of the oil and gas producer’s stock valued at $11,873,000 after purchasing an additional 58,328 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Stephens reiterated an “equal weight” rating and issued a $27.00 price objective on shares of CNX Resources in a report on Monday, July 15th. Scotiabank raised their price target on shares of CNX Resources from $20.00 to $25.00 and gave the company a “sector underperform” rating in a research note on Thursday, April 11th. Truist Financial boosted their price objective on shares of CNX Resources from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday. Piper Sandler raised their target price on CNX Resources from $18.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, April 19th. Finally, Roth Mkm lifted their target price on CNX Resources from $18.00 to $22.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $25.57.

CNX Resources Trading Down 1.5 %

CNX traded down $0.38 during trading on Tuesday, reaching $25.45. 3,906,823 shares of the stock traded hands, compared to its average volume of 2,783,525. The stock’s 50-day moving average is $25.08 and its 200 day moving average is $23.01. CNX Resources Co. has a 12 month low of $18.17 and a 12 month high of $26.60. The company has a quick ratio of 0.51, a current ratio of 0.53 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $3.90 billion, a PE ratio of 4.61 and a beta of 1.38.

CNX Resources (NYSE:CNX) last announced its earnings results on Thursday, April 25th. The oil and gas producer reported $0.45 EPS for the quarter, beating the consensus estimate of $0.36 by $0.09. The company had revenue of $381.00 million for the quarter, compared to analyst estimates of $420.13 million. CNX Resources had a return on equity of 7.68% and a net margin of 40.44%. Equities analysts anticipate that CNX Resources Co. will post 1.36 earnings per share for the current year.

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.