Pinebridge Investments L.P. Grows Stock Position in CNX Resources Co. (NYSE:CNX)

Pinebridge Investments L.P. grew its holdings in shares of CNX Resources Co. (NYSE:CNX - Free Report) by 42.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,445 shares of the oil and gas producer's stock after buying an additional 16,745 shares during the period. Pinebridge Investments L.P.'s holdings in CNX Resources were worth $2,070,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Bessemer Group Inc. grew its holdings in shares of CNX Resources by 131.5% during the fourth quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer's stock worth $34,000 after purchasing an additional 526 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of CNX Resources in the 4th quarter valued at about $39,000. VSM Wealth Advisory LLC purchased a new position in CNX Resources during the 4th quarter worth approximately $55,000. Principal Securities Inc. increased its position in CNX Resources by 38.5% during the fourth quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer's stock worth $91,000 after buying an additional 691 shares during the period. Finally, Blue Trust Inc. lifted its stake in CNX Resources by 65.1% in the fourth quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer's stock valued at $119,000 after buying an additional 1,280 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company's stock.

Analyst Upgrades and Downgrades

CNX has been the topic of a number of recent research reports. Mizuho lifted their target price on shares of CNX Resources from $34.00 to $35.00 and gave the company an "underperform" rating in a report on Monday, April 7th. TD Cowen initiated coverage on shares of CNX Resources in a research note on Wednesday, January 15th. They issued a "hold" rating and a $27.00 price objective on the stock. Stephens raised shares of CNX Resources from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $35.00 to $48.00 in a report 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 on the stock in a report on Friday, April 11th. Finally, Raymond James raised CNX Resources from an "underperform" rating to a "market perform" rating in a research note on Tuesday, February 18th. Eight equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $31.17.

CNX Resources Price Performance

Shares of NYSE CNX traded up $0.70 during trading on Friday, hitting $30.28. 2,123,393 shares of the company were exchanged, compared to its average volume of 2,682,259. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32. CNX Resources Co. has a 1 year low of $23.10 and a 1 year high of $41.93. The company has a market cap of $4.38 billion, a price-to-earnings ratio of -44.53, a PEG ratio of 0.42 and a beta of 1.33. The firm's fifty day moving average price is $30.24 and its 200 day moving average price is $32.89.

CNX Resources (NYSE:CNX - Get Free Report) last issued its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share 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%. On average, sell-side analysts expect that CNX Resources Co. will post 2.18 earnings per share for the current fiscal year.

CNX Resources Profile

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.