Semanteon Capital Management LP Invests $1.18 Million in CNX Resources Co. (NYSE:CNX)

Semanteon Capital Management LP bought a new stake in CNX Resources Co. (NYSE:CNX) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 58,942 shares of the oil and gas producer’s stock, valued at approximately $1,179,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CNX. Jacobs Levy Equity Management Inc. acquired a new stake in CNX Resources in the 3rd quarter valued at approximately $19,018,000. AQR Capital Management LLC raised its position in CNX Resources by 2,200.5% in the 3rd quarter. AQR Capital Management LLC now owns 676,745 shares of the oil and gas producer’s stock valued at $15,281,000 after buying an additional 647,328 shares during the last quarter. LSV Asset Management raised its position in CNX Resources by 472.1% in the 3rd quarter. LSV Asset Management now owns 460,548 shares of the oil and gas producer’s stock valued at $10,399,000 after buying an additional 380,048 shares during the last quarter. Invesco Ltd. raised its position in CNX Resources by 11.7% in the 3rd quarter. Invesco Ltd. now owns 3,587,664 shares of the oil and gas producer’s stock valued at $81,009,000 after buying an additional 376,245 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in CNX Resources by 130.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 496,495 shares of the oil and gas producer’s stock valued at $11,211,000 after buying an additional 280,849 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Wall Street Analyst Weigh In

CNX has been the topic of a number of recent research reports. Scotiabank lifted their target price on CNX Resources from $20.00 to $25.00 and gave the company a “sector underperform” rating in a research report on Thursday, April 11th. Bank of America raised CNX Resources from an “underperform” rating to a “neutral” rating and set a $23.00 price target on the stock in a research report on Friday, January 5th. Mizuho boosted their price target on CNX Resources from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Roth Mkm boosted their price target on CNX Resources from $18.00 to $22.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. Finally, Truist Financial boosted their price target on CNX Resources from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, CNX Resources has a consensus rating of “Hold” and a consensus price target of $24.43.

CNX Resources Stock Performance

Shares of NYSE CNX traded down $0.28 during midday trading on Thursday, hitting $23.93. 4,726,401 shares of the company’s stock were exchanged, compared to its average volume of 2,972,931. The company has a quick ratio of 0.49, a current ratio of 0.51 and a debt-to-equity ratio of 0.43. CNX Resources Co. has a 12 month low of $14.36 and a 12 month high of $24.82. The company’s 50 day moving average price is $22.51 and its 200 day moving average price is $21.41. The firm has a market capitalization of $3.66 billion, a PE ratio of 2.63 and a beta of 1.33.

CNX Resources (NYSE:CNX) last issued its earnings results on Thursday, January 25th. The oil and gas producer reported $2.89 EPS for the quarter, topping the consensus estimate of $0.30 by $2.59. The company had revenue of $999.50 million during the quarter, compared to the consensus estimate of $401.62 million. CNX Resources had a return on equity of 9.00% and a net margin of 50.34%. The firm’s revenue for the quarter was down 38.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.64 EPS. As a group, analysts predict that CNX Resources Co. will post 1.29 earnings per share for the current fiscal year.

Insider Activity at CNX Resources

In other CNX Resources news, EVP Timothy Scott Bedard sold 1,226 shares of CNX Resources stock in a transaction on Monday, February 26th. The stock was sold at an average price of $20.83, for a total value of $25,537.58. Following the completion of the transaction, the executive vice president now directly owns 67,982 shares of the company’s stock, valued at approximately $1,416,065.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.10% of the stock is currently owned by corporate insiders.

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.