Massar Capital Management LP Purchases New Shares in CNX Resources Co. (NYSE:CNX)

Massar Capital Management LP bought a new stake in CNX Resources Co. (NYSE:CNX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 49,938 shares of the oil and gas producer's stock, valued at approximately $1,831,000. CNX Resources accounts for approximately 2.1% of Massar Capital Management LP's portfolio, making the stock its 16th biggest holding.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bessemer Group Inc. lifted its holdings in CNX Resources by 131.5% in the fourth quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer's stock valued at $34,000 after acquiring an additional 526 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in CNX Resources in the fourth quarter valued at $39,000. VSM Wealth Advisory LLC acquired a new stake in CNX Resources in the fourth quarter valued at $55,000. Principal Securities Inc. lifted its holdings in CNX Resources by 38.5% in the fourth 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. lifted its holdings 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 acquiring an additional 1,280 shares during the period. Institutional investors and hedge funds own 95.16% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Bank of America reduced their target price on CNX Resources from $32.00 to $27.00 and set an "underperform" rating for the company in a report on Tuesday, April 1st. Stephens upgraded CNX Resources from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $35.00 to $48.00 in a research report on Tuesday, March 18th. Piper Sandler dropped their price target on CNX Resources from $22.00 to $21.00 and set an "underweight" rating for the company in a research report on Tuesday, April 22nd. Raymond James upgraded CNX Resources from an "underperform" rating to a "market perform" rating in a research report on Tuesday, February 18th. Finally, TD Cowen began coverage on CNX Resources in a research report on Wednesday, January 15th. They issued a "hold" rating and a $27.00 price target for the company. Eight research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $31.17.

CNX Resources Trading Down 0.4 %

NYSE:CNX traded down $0.11 during mid-day trading on Friday, reaching $28.95. The company's stock had a trading volume of 3,306,583 shares, compared to its average volume of 2,675,286. The company's fifty day simple moving average is $30.27 and its two-hundred day simple moving average is $33.07. 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 twelve month low of $22.82 and a twelve month high of $41.93. The stock has a market cap of $4.26 billion, a P/E ratio of -42.57, a P/E/G ratio of 0.42 and a beta of 1.33.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.43 by $0.14. CNX Resources had a positive return on equity of 6.72% and a negative net margin of 7.14%. On average, equities analysts predict that CNX Resources Co. will post 2.18 EPS for the current 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.