Highlander Capital Management LLC raised its stake in CNX Resources Corp (NYSE:CNX) by 71.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 59,250 shares of the oil and gas producer’s stock after purchasing an additional 24,600 shares during the quarter. Highlander Capital Management LLC’s holdings in CNX Resources were worth $874,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Stratos Wealth Partners LTD. purchased a new position in shares of CNX Resources in the 1st quarter valued at approximately $118,000. Point72 Asia Hong Kong Ltd purchased a new position in shares of CNX Resources in the 1st quarter valued at approximately $123,000. Gargoyle Investment Advisor L.L.C. purchased a new position in shares of CNX Resources in the 1st quarter valued at approximately $170,000. Sciencast Management LP acquired a new stake in shares of CNX Resources in the 1st quarter valued at approximately $174,000. Finally, Quantum Capital Management acquired a new stake in shares of CNX Resources in the 1st quarter valued at approximately $196,000. Institutional investors own 96.10% of the company’s stock.
Several analysts have recently commented on CNX shares. ValuEngine cut CNX Resources from a “sell” rating to a “strong sell” rating in a report on Thursday, April 26th. Tudor Pickering raised CNX Resources from a “hold” rating to a “buy” rating in a report on Tuesday, February 27th. Zacks Investment Research raised CNX Resources from a “sell” rating to a “hold” rating in a report on Monday, March 12th. Finally, Stifel Nicolaus started coverage on CNX Resources in a report on Tuesday, May 22nd. They issued a “hold” rating and a $18.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $21.50.
Shares of CNX traded up $0.05 during mid-day trading on Thursday, hitting $17.08. The company’s stock had a trading volume of 7,990 shares, compared to its average volume of 3,573,813. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.93 and a quick ratio of 0.91. The stock has a market capitalization of $3.72 billion, a P/E ratio of -106.44 and a beta of 1.27. CNX Resources Corp has a 1-year low of $11.29 and a 1-year high of $18.08.
CNX Resources (NYSE:CNX) last issued its quarterly earnings data on Thursday, May 3rd. The oil and gas producer reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.07. The firm had revenue of $496.00 million during the quarter, compared to analysts’ expectations of $408.68 million. CNX Resources had a return on equity of 1.36% and a net margin of 37.74%. CNX Resources’s revenue was up 55.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.17 earnings per share. research analysts anticipate that CNX Resources Corp will post 0.61 EPS for the current year.
CNX Resources Company Profile
CNX Resources Corporation, an independent oil and natural gas company, explores for, develops, and produces natural gas in the Appalachian Basin. As of December 31, 2017, it had 7.6 trillion cubic feet equivalent of proved natural gas reserves. The company also owns, operates, and develops natural gas gathering and other midstream energy assets in the Marcellus Shale in Pennsylvania and West Virginia.
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