Heck Capital Advisors LLC Invests $121,000 in CNX Resources Co. (NYSE:CNX)

Heck Capital Advisors LLC acquired a new stake in shares of CNX Resources Co. (NYSE:CNX) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,300 shares of the oil and gas producer’s stock, valued at approximately $121,000.

A number of other institutional investors also recently bought and sold shares of CNX. Connor Clark & Lunn Investment Management Ltd. grew its holdings in CNX Resources by 311.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 616,734 shares of the oil and gas producer’s stock valued at $20,087,000 after purchasing an additional 466,694 shares during the period. Empirical Asset Management LLC bought a new position in shares of CNX Resources during the 4th quarter valued at approximately $9,281,000. Charles Schwab Investment Management Inc. increased its holdings in CNX Resources by 12.2% in the 3rd 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 acquiring an additional 202,890 shares in the last quarter. Riverwater Partners LLC raised its stake in CNX Resources by 124.2% during the 3rd quarter. Riverwater Partners LLC now owns 146,363 shares of the oil and gas producer’s stock worth $4,839,000 after acquiring an additional 81,092 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in CNX Resources by 231.9% during the third quarter. BNP Paribas Financial Markets now owns 104,361 shares of the oil and gas producer’s stock valued at $3,399,000 after purchasing an additional 72,914 shares in the last quarter. Institutional investors own 95.16% of the company’s stock.

CNX Resources Price Performance

CNX Resources stock opened at $27.41 on Monday. CNX Resources Co. has a 52-week low of $19.07 and a 52-week high of $41.93. The company has a quick ratio of 0.36, a current ratio of 0.37 and a debt-to-equity ratio of 0.46. The firm’s fifty day moving average is $34.35 and its 200 day moving average is $32.24. The company has a market cap of $4.09 billion, a price-to-earnings ratio of 8.62, a PEG ratio of 0.37 and a beta of 1.42.

CNX Resources (NYSE:CNX) last announced its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.14. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. Sell-side analysts forecast that CNX Resources Co. will post 1.6 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CNX. TD Cowen began coverage on shares of CNX Resources in a research note on Wednesday, January 15th. They issued a “hold” rating and a $27.00 price objective for the company. Bank of America assumed coverage on CNX Resources in a research note on Monday, October 28th. They issued an “underperform” rating and a $34.00 price target for the company. Piper Sandler lowered their price objective on CNX Resources from $23.00 to $22.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 29th. Truist Financial increased their target price on CNX Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Finally, Morgan Stanley started coverage on CNX Resources in a report on Friday, January 10th. They issued an “underweight” rating and a $29.00 price target on the stock. Nine investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $29.67.

Insider Buying and Selling at CNX Resources

In other 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 stock was sold at an average price of $31.09, for a total transaction of $33,421,750.00. Following the transaction, the insider now owns 13,925,000 shares of the company’s stock, valued at approximately $432,928,250. The trade was a 7.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 3.10% of the company’s stock.

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.