Jupiter Topco LLC Invests $2.02 Million in CNX Resources Corporation. $CNX

Jupiter Topco LLC acquired a new position in shares of CNX Resources Corporation. (NYSE:CNX) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 59,502 shares of the oil and gas producer’s stock, valued at approximately $2,019,000.

Several other institutional investors have also recently added to or reduced their stakes in CNX. Deutsche Bank AG purchased a new position in shares of CNX Resources during the second quarter worth $7,742,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of CNX Resources by 3,227.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 90,603 shares of the oil and gas producer’s stock valued at $3,331,000 after buying an additional 87,880 shares during the period. Principal Financial Group Inc. raised its holdings in shares of CNX Resources by 98.4% in the 1st quarter. Principal Financial Group Inc. now owns 579,120 shares of the oil and gas producer’s stock valued at $22,325,000 after buying an additional 287,240 shares during the period. First Trust Advisors LP lifted its stake in CNX Resources by 81.9% during the 1st quarter. First Trust Advisors LP now owns 965,371 shares of the oil and gas producer’s stock worth $37,215,000 after acquiring an additional 434,620 shares in the last quarter. Finally, BlackRock Inc. acquired a new position in CNX Resources during the 2nd quarter worth about $650,689,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on CNX. Mizuho lowered their target price on CNX Resources from $44.00 to $42.00 and set a “neutral” rating for the company in a report on Wednesday, May 27th. Morgan Stanley reduced their price target on shares of CNX Resources from $34.00 to $32.00 and set an “underweight” rating on the stock in a research report on Monday, June 29th. Weiss Ratings cut shares of CNX Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, July 28th. Tudor Pickering raised shares of CNX Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, May 8th. Finally, Barclays dropped their price objective on shares of CNX Resources from $36.00 to $35.00 and set an “underweight” rating for the company in a report on Tuesday, May 26th. Nine analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $35.44.

CNX Resources Stock Up 0.5%

Shares of NYSE CNX opened at $37.75 on Friday. The stock has a market cap of $5.58 billion, a P/E ratio of 6.30 and a beta of 0.61. The business’s fifty day simple moving average is $34.77 and its 200-day simple moving average is $36.64. CNX Resources Corporation. has a 12-month low of $28.82 and a 12-month high of $43.62. The company has a current ratio of 0.72, a quick ratio of 0.67 and a debt-to-equity ratio of 0.46.

CNX Resources (NYSE:CNX) last released its earnings results on Thursday, July 30th. The oil and gas producer reported $1.32 EPS for the quarter, topping the consensus estimate of $0.60 by $0.72. CNX Resources had a return on equity of 10.40% and a net margin of 36.53%.The firm had revenue of $618.48 million during the quarter, compared to analysts’ expectations of $475.16 million. During the same period in the previous year, the firm posted $2.43 EPS. CNX Resources’s revenue for the quarter was down 35.7% on a year-over-year basis. As a group, equities analysts predict that CNX Resources Corporation. will post 3.08 EPS for the current fiscal 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.