Point72 Asset Management L.P. Has $51.45 Million Stake in CNX Resources Corp (CNX)
Point72 Asset Management L.P. grew its position in shares of CNX Resources Corp (NYSE:CNX) by 246.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,036,902 shares of the oil and gas producer’s stock after purchasing an additional 2,161,302 shares during the period. Point72 Asset Management L.P. owned approximately 1.32% of CNX Resources worth $51,445,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Jane Street Group LLC grew its position in shares of CNX Resources by 411.2% during the third quarter. Jane Street Group LLC now owns 12,170 shares of the oil and gas producer’s stock worth $206,000 after buying an additional 16,081 shares in the last quarter. Cornerstone Capital Management Holdings LLC. grew its position in shares of CNX Resources by 36.7% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 594,714 shares of the oil and gas producer’s stock worth $10,073,000 after buying an additional 159,660 shares in the last quarter. Partners Capital Investment Group Holdings LLC acquired a new stake in shares of CNX Resources during the third quarter worth approximately $737,000. Private Advisor Group LLC grew its position in shares of CNX Resources by 57.3% during the third quarter. Private Advisor Group LLC now owns 26,660 shares of the oil and gas producer’s stock worth $445,000 after buying an additional 9,709 shares in the last quarter. Finally, Pinebridge Investments L.P. grew its position in shares of CNX Resources by 14.0% during the third quarter. Pinebridge Investments L.P. now owns 486,478 shares of the oil and gas producer’s stock worth $8,241,000 after buying an additional 59,867 shares in the last quarter. Institutional investors own 99.32% of the company’s stock.
CNX has been the subject of a number of recent analyst reports. SunTrust Banks set a $17.00 price target on shares of CNX Resources and gave the stock a “hold” rating in a research report on Tuesday, October 17th. Zacks Investment Research raised shares of CNX Resources from a “sell” rating to a “hold” rating in a research report on Friday, October 27th. BidaskClub downgraded shares of CNX Resources from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. B. Riley initiated coverage on shares of CNX Resources in a research report on Tuesday, November 21st. They set a “buy” rating and a $32.00 price target for the company. Finally, Susquehanna Bancshares raised their price target on shares of CNX Resources from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, September 25th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $23.39.
CNX Resources Corp (NYSE:CNX) opened at $14.63 on Tuesday. The company has a market cap of $3,228.68, a price-to-earnings ratio of 75.74 and a beta of 1.53. The company has a quick ratio of 0.86, a current ratio of 0.94 and a debt-to-equity ratio of 0.62. CNX Resources Corp has a 1-year low of $11.29 and a 1-year high of $18.08.
CNX Resources (NYSE:CNX) last released its quarterly earnings data on Tuesday, October 31st. The oil and gas producer reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.14). The business had revenue of $671.30 million during the quarter, compared to analyst estimates of $623.00 million. CNX Resources had a positive return on equity of 1.09% and a negative net margin of 7.49%. The business’s revenue for the quarter was down 10.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.04 EPS. equities analysts forecast that CNX Resources Corp will post 0.22 EPS for the current year.
CNX Resources declared that its board has approved a share repurchase program on Tuesday, September 5th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the oil and gas producer to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.
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About CNX Resources
CNX Resources Corp., formerly CONSOL Energy Inc, is an integrated energy company. The Company’s divisions include Exploration and Production (E&P), Pennsylvania (PA) Mining Operations and Other. The E&P division operates through four segments: Marcellus Shale, Utica Shale, Coalbed Methane (CBM) and Other Gas, which produce pipeline quality natural gas for sale primarily to gas wholesalers.
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