Exchange Traded Concepts LLC Invests $878,000 in CNX Resources Corporation. $CNX

Exchange Traded Concepts LLC acquired a new position in shares of CNX Resources Corporation. (NYSE:CNX) in the 3rd quarter, HoldingsChannel reports. The fund acquired 27,320 shares of the oil and gas producer’s stock, valued at approximately $878,000.

Other institutional investors have also recently bought and sold shares of the company. Southeast Asset Advisors LLC lifted its position in CNX Resources by 0.3% during the 2nd quarter. Southeast Asset Advisors LLC now owns 2,414,955 shares of the oil and gas producer’s stock worth $81,336,000 after acquiring an additional 6,930 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its position in shares of CNX Resources by 16.7% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,400,000 shares of the oil and gas producer’s stock worth $47,152,000 after purchasing an additional 200,000 shares during the last quarter. AQR Capital Management LLC boosted its stake in CNX Resources by 112.2% during the 2nd quarter. AQR Capital Management LLC now owns 1,007,486 shares of the oil and gas producer’s stock valued at $33,932,000 after purchasing an additional 532,770 shares during the period. Assetmark Inc. grew its holdings in CNX Resources by 1.1% in the 2nd quarter. Assetmark Inc. now owns 899,631 shares of the oil and gas producer’s stock valued at $30,300,000 after buying an additional 10,224 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in CNX Resources by 1.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 661,464 shares of the oil and gas producer’s stock worth $22,278,000 after buying an additional 11,475 shares during the period. Institutional investors own 95.16% of the company’s stock.

CNX Resources Trading Down 1.0%

Shares of CNX Resources stock opened at $36.63 on Monday. CNX Resources Corporation. has a 52-week low of $27.00 and a 52-week high of $42.13. The firm has a market capitalization of $4.94 billion, a PE ratio of 25.61, a price-to-earnings-growth ratio of 0.34 and a beta of 0.64. 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 company’s fifty day moving average price is $36.61 and its two-hundred day moving average price is $33.21.

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, beating the consensus estimate of $0.37 by $0.09. The business had revenue of $423.00 million for the quarter, compared to analyst estimates of $408.80 million. CNX Resources had a net margin of 16.56% and a return on equity of 9.10%. CNX Resources’s revenue for the quarter was up 37.6% on a year-over-year basis. On average, analysts expect that CNX Resources Corporation. will post 2.18 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on CNX. Mizuho increased their price objective on CNX Resources from $35.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. Barclays increased their price target on shares of CNX Resources from $32.00 to $34.00 and gave the company an “equal weight” rating in a report on Friday, October 31st. Siebert Williams Shank assumed coverage on shares of CNX Resources in a report on Monday, September 15th. They set a “hold” rating and a $32.00 price objective on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CNX Resources in a research report on Monday, December 22nd. Finally, Morgan Stanley reduced their target price on shares of CNX Resources from $32.00 to $31.00 and set an “underweight” rating for the company in a research note on Tuesday, October 14th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, CNX Resources has an average rating of “Reduce” and an average target price of $34.00.

About CNX Resources

CNX Resources Corporation is a natural gas and natural gas liquids producer with operations concentrated in the Appalachian Basin. Established as an independent, publicly traded entity in 2018 following its spinoff from Consol Energy, the company focuses on the exploration, development and production of hydrocarbon resources in the Marcellus and Utica shales across Pennsylvania, West Virginia and Ohio.

In addition to its upstream activities, CNX Resources has invested in midstream infrastructure through its subsidiary that gathers, processes and transports natural gas.