Pullen Investment Management LLC Has $2.50 Million Position in CNX Resources Corporation. $CNX

Pullen Investment Management LLC grew its position in CNX Resources Corporation. (NYSE:CNX) by 76.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,083 shares of the oil and gas producer’s stock after acquiring an additional 29,469 shares during the period. CNX Resources comprises about 1.3% of Pullen Investment Management LLC’s portfolio, making the stock its 26th largest holding. Pullen Investment Management LLC’s holdings in CNX Resources were worth $2,503,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Capital Research Global Investors raised its holdings in shares of CNX Resources by 38.6% in the 3rd quarter. Capital Research Global Investors now owns 3,950,000 shares of the oil and gas producer’s stock valued at $126,874,000 after purchasing an additional 1,100,000 shares during the period. American Century Companies Inc. grew its holdings in CNX Resources by 16.3% during the third quarter. American Century Companies Inc. now owns 3,236,441 shares of the oil and gas producer’s stock worth $103,954,000 after purchasing an additional 454,071 shares during the period. Adage Capital Partners GP L.L.C. grew its holdings in CNX Resources by 16.7% during the second 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 period. Balyasny Asset Management L.P. increased its position in CNX Resources by 601.8% during the third quarter. Balyasny Asset Management L.P. now owns 1,105,456 shares of the oil and gas producer’s stock worth $35,507,000 after buying an additional 947,931 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in CNX Resources by 9.5% during the third quarter. AQR Capital Management LLC now owns 1,102,778 shares of the oil and gas producer’s stock worth $35,421,000 after buying an additional 95,292 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at CNX Resources

In other news, Director Maureen Lally-Green sold 23,631 shares of the business’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $39.52, for a total value of $933,897.12. Following the completion of the sale, the director owned 169,577 shares of the company’s stock, valued at approximately $6,701,683.04. The trade was a 12.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Bernard Lanigan, Jr. sold 46,119 shares of the company’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $40.60, for a total transaction of $1,872,431.40. Following the completion of the transaction, the director owned 177,180 shares in the company, valued at $7,193,508. This trade represents a 20.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CNX shares. Truist Financial began coverage on CNX Resources in a research report on Tuesday, March 24th. They issued a “sell” rating and a $35.00 price objective for the company. Scotiabank reissued a “sector perform” rating and set a $44.00 target price on shares of CNX Resources in a report on Wednesday, January 21st. Weiss Ratings upgraded CNX Resources from a “hold (c)” rating to a “buy (b)” rating in a research note on Wednesday, February 11th. Roth Mkm set a $35.00 price target on CNX Resources and gave the company a “neutral” rating in a report on Thursday, January 29th. Finally, JPMorgan Chase & Co. raised shares of CNX Resources from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $36.00 to $38.00 in a research report on Monday, December 8th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, six have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, CNX Resources has an average rating of “Reduce” and a consensus target price of $35.67.

CNX Resources Stock Performance

NYSE:CNX opened at $38.63 on Friday. The stock has a market cap of $5.50 billion, a P/E ratio of 10.50, a PEG ratio of 0.31 and a beta of 0.65. The stock has a 50 day simple moving average of $39.88 and a 200 day simple moving average of $36.99. The company has a current ratio of 0.44, a quick ratio of 0.41 and a debt-to-equity ratio of 0.52. CNX Resources Corporation. has a 1-year low of $27.68 and a 1-year high of $43.62.

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

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.