Neo Ivy Capital Management Purchases New Stake in CNX Resources Co. (NYSE:CNX)

Neo Ivy Capital Management bought a new position in CNX Resources Co. (NYSE:CNX - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 38,988 shares of the oil and gas producer's stock, valued at approximately $1,429,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bessemer Group Inc. boosted its holdings in shares of CNX Resources by 131.5% in the 4th 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 period. Harvest Fund Management Co. Ltd purchased a new position in shares of CNX Resources in the 4th quarter worth approximately $39,000. VSM Wealth Advisory LLC purchased a new position in shares of CNX Resources in the 4th quarter worth approximately $55,000. Principal Securities Inc. boosted its holdings in CNX Resources by 38.5% during the 4th quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer's stock valued at $91,000 after acquiring an additional 691 shares during the period. Finally, Blue Trust Inc. boosted its holdings in CNX Resources by 65.1% during the 4th quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer's stock valued at $119,000 after acquiring an additional 1,280 shares during the period. Hedge funds and other institutional investors own 95.16% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Scotiabank raised CNX Resources from a "sector underperform" rating to a "sector perform" rating and set a $33.00 target price for the company in a research report on Friday, April 11th. Mizuho lifted their target price on CNX Resources from $35.00 to $36.00 and gave the company an "underperform" rating in a research report on Tuesday, May 13th. Raymond James raised CNX Resources from an "underperform" rating to a "market perform" rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. lifted their target price on CNX Resources from $32.00 to $33.00 and gave the company an "underweight" rating in a research report on Thursday, March 13th. Finally, Cowen reissued a "hold" rating on shares of CNX Resources in a research report on Friday, April 25th. Eight analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $31.58.

CNX Resources Stock Performance

CNX Resources stock traded down $0.09 during trading hours on Thursday, hitting $31.38. 267,751 shares of the stock traded hands, compared to its average volume of 2,647,549. CNX Resources Co. has a 1 year low of $23.63 and a 1 year high of $41.93. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32. The stock has a market capitalization of $4.54 billion, a price-to-earnings ratio of -46.23, a P/E/G ratio of 0.42 and a beta of 0.62. The firm's 50 day moving average price is $30.83 and its 200-day moving average price is $32.42.

Insider Transactions at CNX Resources

In other CNX Resources news, Director J. Palmer Clarkson purchased 10,000 shares of the stock in a transaction on Monday, May 12th. The shares were bought at an average price of $31.20 per share, for a total transaction of $312,000.00. Following the completion of the transaction, the director now owns 245,433 shares of the company's stock, valued at $7,657,509.60. This trade represents a 4.25% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 3.10% of the company's stock.

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.