Bridgefront Capital LLC Buys New Holdings in CNX Resources Corporation. $CNX

Bridgefront Capital LLC purchased a new position in CNX Resources Corporation. (NYSE:CNX) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 13,031 shares of the oil and gas producer’s stock, valued at approximately $419,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. State of Wyoming purchased a new stake in shares of CNX Resources in the 2nd quarter valued at $29,000. Caitlin John LLC purchased a new position in shares of CNX Resources during the third quarter worth $31,000. Elevation Point Wealth Partners LLC acquired a new position in CNX Resources during the second quarter valued at $46,000. EverSource Wealth Advisors LLC lifted its position in CNX Resources by 393.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,925 shares of the oil and gas producer’s stock valued at $65,000 after purchasing an additional 1,535 shares during the period. Finally, MTM Investment Management LLC purchased a new stake in CNX Resources in the second quarter valued at $67,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

CNX Resources Stock Down 0.4%

CNX opened at $41.96 on Tuesday. The company has a fifty day moving average of $38.80 and a two-hundred day moving average of $36.01. The stock has a market capitalization of $5.97 billion, a price-to-earnings ratio of 11.40, a PEG ratio of 0.44 and a beta of 0.66. CNX Resources Corporation. has a fifty-two week low of $27.68 and a fifty-two week high of $43.62. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.41 and a current ratio of 0.44.

CNX Resources (NYSE:CNX) last posted its earnings results on Thursday, January 29th. The oil and gas producer reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.94. CNX Resources had a net margin of 28.28% and a return on equity of 9.29%. The business had revenue of $610.48 million for the quarter, compared to analyst estimates of $422.65 million. During the same period in the prior year, the company posted ($0.97) EPS. The company’s revenue for the quarter was up 347.0% on a year-over-year basis. On average, research analysts expect that CNX Resources Corporation. will post 2.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CNX has been the topic of several analyst reports. JPMorgan Chase & Co. raised CNX Resources from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $36.00 to $38.00 in a research report on Monday, December 8th. Barclays boosted their price objective on CNX Resources from $35.00 to $36.00 and gave the company an “underweight” rating in a report on Monday. Piper Sandler set a $26.00 target price on CNX Resources in a research note on Monday, February 2nd. Mizuho raised their target price on CNX Resources from $35.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. Finally, Morgan Stanley lifted their price target on CNX Resources from $31.00 to $32.00 and gave the company an “underweight” rating in a research report on Friday, January 23rd. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $36.10.

Insiders Place Their Bets

In other CNX Resources news, Director Bernard Lanigan, Jr. sold 46,119 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $40.60, for a total transaction of $1,872,431.40. Following the transaction, the director owned 177,180 shares in the company, valued at approximately $7,193,508. This represents a 20.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.10% of the company’s stock.

CNX Resources Profile

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.