Bridgewater Associates LP Takes Position in CNX Resources Co. (NYSE:CNX)

Bridgewater Associates LP purchased a new stake in CNX Resources Co. (NYSE:CNX - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 366,232 shares of the oil and gas producer's stock, valued at approximately $13,430,000. Bridgewater Associates LP owned about 0.25% of CNX Resources as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CNX. Geode Capital Management LLC boosted its position in shares of CNX Resources by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,602,837 shares of the oil and gas producer's stock worth $117,366,000 after purchasing an additional 12,333 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in CNX Resources by 7.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,000,464 shares of the oil and gas producer's stock valued at $73,357,000 after acquiring an additional 139,647 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in CNX Resources during the fourth quarter worth about $37,923,000. Assetmark Inc. grew its position in shares of CNX Resources by 2.2% in the fourth quarter. Assetmark Inc. now owns 885,429 shares of the oil and gas producer's stock valued at $32,469,000 after purchasing an additional 19,309 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of CNX Resources by 0.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 622,503 shares of the oil and gas producer's stock worth $22,827,000 after purchasing an additional 5,769 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CNX. Raymond James raised CNX Resources from an "underperform" rating to a "market perform" rating in a research report on Tuesday, February 18th. Stephens raised shares of CNX Resources from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $35.00 to $48.00 in a research note on Tuesday, March 18th. Scotiabank raised CNX Resources from a "sector underperform" rating to a "sector perform" rating and set a $33.00 price target for the company in a research report on Friday, April 11th. JPMorgan Chase & Co. lifted their price objective on CNX Resources from $32.00 to $33.00 and gave the company an "underweight" rating in a research note on Thursday, March 13th. Finally, Roth Capital set a $30.00 price objective on shares of CNX Resources in a research note on Thursday, January 23rd. Eight investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $31.25.

CNX Resources Stock Up 2.8 %

Shares of CNX traded up $0.83 during trading hours on Tuesday, reaching $30.80. The company's stock had a trading volume of 307,384 shares, compared to its average volume of 2,664,369. The company has a quick ratio of 0.32, a current ratio of 0.33 and a debt-to-equity ratio of 0.45. CNX Resources Co. has a 1-year low of $22.82 and a 1-year high of $41.93. The company has a 50 day moving average of $30.32 and a two-hundred day moving average of $33.20. The firm has a market cap of $4.53 billion, a price-to-earnings ratio of -45.29, a P/E/G ratio of 0.42 and a beta of 1.33.

CNX Resources (NYSE:CNX - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.14. CNX Resources had a negative net margin of 7.14% and a positive return on equity of 6.72%. As a group, research analysts predict that CNX Resources Co. will post 2.18 EPS for the current fiscal year.

About CNX Resources

CNX Resources Corporation, an independent natural gas and midstream company, engages in the acquisition, exploration, development, and production of natural gas properties in the Appalachian Basin. The company operates in two segments, Shale and Coalbed Methane (CBM). It produces and sells pipeline quality natural gas primarily for gas wholesalers.