Edgestream Partners L.P. Purchases 37,024 Shares of CNX Resources Corporation. $CNX

Edgestream Partners L.P. boosted its holdings in CNX Resources Corporation. (NYSE:CNX) by 59.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,027 shares of the oil and gas producer’s stock after buying an additional 37,024 shares during the quarter. Edgestream Partners L.P.’s holdings in CNX Resources were worth $3,335,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Ameritas Advisory Services LLC bought a new stake in CNX Resources during the 2nd quarter worth approximately $32,000. Elevation Point Wealth Partners LLC acquired a new position in shares of CNX Resources during the second quarter worth $46,000. MTM Investment Management LLC acquired a new position in shares of CNX Resources during the second quarter worth $67,000. CWM LLC grew its stake in shares of CNX Resources by 26.0% in the second quarter. CWM LLC now owns 3,405 shares of the oil and gas producer’s stock worth $115,000 after purchasing an additional 703 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in CNX Resources in the second quarter valued at $115,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on CNX shares. Barclays lifted their target price on CNX Resources from $32.00 to $34.00 and gave the stock an “equal weight” rating in a report on Friday, October 31st. Mizuho raised their price objective on CNX Resources from $34.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Zacks Research raised CNX Resources from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Morgan Stanley reduced their target price on CNX Resources from $32.00 to $31.00 and set an “underweight” rating on the stock in a report on Tuesday, October 14th. Finally, Piper Sandler lowered their price target on shares of CNX Resources from $26.00 to $24.00 and set an “underweight” rating for the company in a report on Thursday, August 14th. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $33.00.

CNX Resources Stock Up 3.3%

Shares of NYSE:CNX opened at $40.27 on Thursday. CNX Resources Corporation. has a 1 year low of $27.00 and a 1 year high of $40.45. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.34 and a quick ratio of 0.31. The business’s 50-day moving average is $34.56 and its 200-day moving average is $32.39. The company has a market capitalization of $5.43 billion, a price-to-earnings ratio of 28.16, a P/E/G ratio of 0.36 and a beta of 0.64.

CNX Resources (NYSE:CNX) last issued its earnings results on Thursday, October 30th. The oil and gas producer reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.09. CNX Resources had a return on equity of 9.10% and a net margin of 16.56%.The business had revenue of $423.00 million during the quarter, compared to the consensus estimate of $408.80 million. CNX Resources’s revenue was up 37.6% on a year-over-year basis. Equities research analysts predict that CNX Resources Corporation. will post 2.18 earnings per share for the current year.

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.