CNX Resources Corp (NYSE:CNX) Director J. Palmer Clarkson Acquires 10,000 Shares

CNX Resources Corp (NYSE:CNX) Director J. Palmer Clarkson acquired 10,000 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was bought at an average price of $7.50 per share, for a total transaction of $75,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of CNX stock traded down $0.30 on Monday, hitting $7.35. The company’s stock had a trading volume of 4,774,207 shares, compared to its average volume of 3,744,286. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.59 and a current ratio of 0.62. CNX Resources Corp has a fifty-two week low of $7.26 and a fifty-two week high of $18.37. The company has a market capitalization of $1.50 billion, a PE ratio of 4.80 and a beta of 0.79.

CNX Resources (NYSE:CNX) last released its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.07). CNX Resources had a net margin of 12.00% and a return on equity of 5.66%. The business had revenue of $278.40 million during the quarter, compared to analyst estimates of $408.29 million. During the same quarter last year, the company posted $0.19 earnings per share. The company’s revenue was down 43.8% on a year-over-year basis. On average, analysts forecast that CNX Resources Corp will post 0.67 EPS for the current year.

Several research firms have commented on CNX. Zacks Investment Research upgraded shares of CNX Resources from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Tuesday, April 23rd. TheStreet downgraded shares of CNX Resources from a “b-” rating to a “c+” rating in a report on Wednesday, March 6th. Three analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $14.20.

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in CNX Resources by 1.9% during the fourth quarter. BlackRock Inc. now owns 18,408,505 shares of the oil and gas producer’s stock worth $210,225,000 after buying an additional 340,719 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of CNX Resources by 2.4% in the first quarter. Dimensional Fund Advisors LP now owns 16,132,751 shares of the oil and gas producer’s stock worth $173,749,000 after acquiring an additional 381,031 shares during the last quarter. ANTIPODES PARTNERS Ltd lifted its holdings in shares of CNX Resources by 5.2% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 5,547,322 shares of the oil and gas producer’s stock worth $63,350,000 after acquiring an additional 275,766 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of CNX Resources by 37.4% in the first quarter. AQR Capital Management LLC now owns 4,442,938 shares of the oil and gas producer’s stock worth $47,850,000 after acquiring an additional 1,208,687 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of CNX Resources by 25.6% in the fourth quarter. Millennium Management LLC now owns 4,314,333 shares of the oil and gas producer’s stock worth $49,270,000 after acquiring an additional 878,654 shares during the last quarter. Institutional investors and hedge funds own 95.93% of the company’s stock.

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About CNX Resources

CNX Resources Corporation, an independent oil and gas company, explores for, develops, and produces natural gas primarily in the Appalachian Basin. The company operates through two divisions, Exploration and Production (E&P), and Midstream. The E&P division produces pipeline quality natural gas primarily to gas wholesalers.

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