CNX Resources Corp (CNX) Stake Increased by Emerald Advisers Inc. PA

Emerald Advisers Inc. PA grew its stake in shares of CNX Resources Corp (NYSE:CNX) by 49.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,900 shares of the oil and gas producer’s stock after acquiring an additional 5,570 shares during the quarter. Emerald Advisers Inc. PA’s holdings in CNX Resources were worth $247,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd purchased a new stake in shares of CNX Resources during the 2nd quarter valued at about $573,000. Wells Fargo & Company MN boosted its holdings in shares of CNX Resources by 121.9% during the 3rd quarter. Wells Fargo & Company MN now owns 229,284 shares of the oil and gas producer’s stock valued at $3,885,000 after acquiring an additional 125,976 shares during the last quarter. Boston Partners purchased a new stake in shares of CNX Resources during the 3rd quarter valued at about $2,493,000. Fox Run Management L.L.C. boosted its holdings in shares of CNX Resources by 77.0% during the 4th quarter. Fox Run Management L.L.C. now owns 57,875 shares of the oil and gas producer’s stock valued at $847,000 after acquiring an additional 25,175 shares during the last quarter. Finally, Raffles Associates LP boosted its holdings in shares of CNX Resources by 22.7% during the 2nd quarter. Raffles Associates LP now owns 270,000 shares of the oil and gas producer’s stock valued at $4,034,000 after acquiring an additional 50,000 shares during the last quarter. 96.83% of the stock is currently owned by hedge funds and other institutional investors.

CNX Resources Corp (NYSE CNX) opened at $12.58 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.93 and a debt-to-equity ratio of 0.57. The stock has a market cap of $2,617.97, a P/E ratio of 7.58 and a beta of 1.49. CNX Resources Corp has a 1-year low of $11.29 and a 1-year high of $15.51.

CNX Resources (NYSE:CNX) last posted its quarterly earnings data on Tuesday, January 30th. The oil and gas producer reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. The company had revenue of $333.30 million for the quarter, compared to the consensus estimate of $331.76 million. CNX Resources had a net margin of 14.03% and a return on equity of 1.36%. The firm’s revenue was up 19.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.33) earnings per share. analysts expect that CNX Resources Corp will post 0.32 EPS for the current year.

CNX Resources declared that its board has initiated a share repurchase program on Tuesday, October 31st that allows the company to repurchase $369.00 million in outstanding shares. This repurchase authorization allows the oil and gas producer to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

A number of analysts have recently issued reports on the stock. Seaport Global Securities assumed coverage on shares of CNX Resources in a report on Thursday, November 30th. They set a “buy” rating and a $32.00 price target on the stock. ValuEngine downgraded shares of CNX Resources from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Stifel Nicolaus assumed coverage on shares of CNX Resources in a report on Thursday, November 30th. They set a “buy” rating and a $32.00 price target on the stock. Robert W. Baird assumed coverage on shares of CNX Resources in a report on Tuesday, December 19th. They set an “outperform” rating and a $22.00 price target on the stock. Finally, Barclays set a $16.00 price target on shares of CNX Resources and gave the company a “hold” rating in a report on Tuesday, December 12th. Three analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $23.00.

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CNX Resources Company 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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Institutional Ownership by Quarter for CNX Resources (NYSE:CNX)

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