State of Alaska Department of Revenue acquired a new position in CNX Resources Corp (NYSE:CNX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 13,500 shares of the oil and gas producer’s stock, valued at approximately $197,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Strategic Global Advisors LLC purchased a new stake in CNX Resources in the 3rd quarter worth about $172,000. Emerald Advisers Inc. PA purchased a new stake in CNX Resources in the 3rd quarter worth about $192,000. Virtu KCG Holdings LLC purchased a new stake in CNX Resources in the 2nd quarter worth about $179,000. Jane Street Group LLC increased its holdings in CNX Resources by 411.2% in the 3rd quarter. Jane Street Group LLC now owns 12,170 shares of the oil and gas producer’s stock worth $206,000 after acquiring an additional 16,081 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new stake in CNX Resources in the 2nd quarter worth about $287,000. 96.83% of the stock is owned by institutional investors.
CNX Resources Corp (CNX) opened at $11.70 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.86 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $2,647.06, a PE ratio of 49.29 and a beta of 1.49. CNX Resources Corp has a twelve month low of $11.29 and a twelve month high of $15.51.
CNX Resources declared that its board has authorized a share buyback plan on Tuesday, October 31st that authorizes the company to buyback $369.00 million in shares. This buyback authorization authorizes the oil and gas producer to buy shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
Several equities research analysts recently weighed in on the company. ValuEngine lowered CNX Resources from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Robert W. Baird lifted their price objective on CNX Resources from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Zacks Investment Research lowered CNX Resources from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 27th. Barclays set a $16.00 price objective on CNX Resources and gave the stock a “hold” rating in a report on Tuesday, December 12th. Finally, SunTrust Banks raised CNX Resources from a “hold” rating to a “buy” rating in a report on Thursday, December 7th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $23.00.
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CNX Resources Profile
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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