Qube Research & Technologies Ltd Acquires New Holdings in CNX Resources Corp (NYSE:CNX)

Qube Research & Technologies Ltd acquired a new stake in CNX Resources Corp (NYSE:CNX) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 18,941 shares of the oil and gas producer’s stock, valued at approximately $138,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in CNX Resources by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 15,751,720 shares of the oil and gas producer’s stock worth $179,888,000 after purchasing an additional 192,424 shares during the period. FMR LLC increased its stake in CNX Resources by 29.3% during the first quarter. FMR LLC now owns 3,326,024 shares of the oil and gas producer’s stock worth $35,821,000 after purchasing an additional 752,984 shares during the period. LSV Asset Management increased its stake in CNX Resources by 291.2% during the first quarter. LSV Asset Management now owns 2,138,100 shares of the oil and gas producer’s stock worth $23,027,000 after purchasing an additional 1,591,600 shares during the period. Geode Capital Management LLC increased its stake in CNX Resources by 4.2% during the fourth quarter. Geode Capital Management LLC now owns 1,999,815 shares of the oil and gas producer’s stock worth $22,837,000 after purchasing an additional 79,739 shares during the period. Finally, First Trust Advisors LP increased its stake in CNX Resources by 140.8% during the first quarter. First Trust Advisors LP now owns 1,301,469 shares of the oil and gas producer’s stock worth $14,017,000 after purchasing an additional 761,000 shares during the period. Hedge funds and other institutional investors own 98.15% of the company’s stock.

In related news, Director J. Palmer Clarkson acquired 10,000 shares of the stock in a transaction dated Monday, June 10th. The stock was acquired at an average cost of $7.50 per share, with a total value of $75,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bernard Lanigan, Jr. acquired 200,000 shares of the stock in a transaction dated Friday, July 26th. The shares were bought at an average cost of $6.39 per share, with a total value of $1,278,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 497,550 shares of company stock valued at $3,489,382. Corporate insiders own 2.40% of the company’s stock.

Separately, Zacks Investment Research upgraded shares of CNX Resources from a “sell” rating to a “hold” rating and set a $9.00 price target on the stock in a research note on Thursday, August 1st. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $13.60.

Shares of NYSE:CNX opened at $7.54 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.74 and a quick ratio of 0.72. The firm has a market capitalization of $1.45 billion, a PE ratio of 4.92 and a beta of 0.67. The firm’s 50-day moving average is $7.14 and its two-hundred day moving average is $8.85. CNX Resources Corp has a 1 year low of $6.14 and a 1 year high of $16.09.

CNX Resources (NYSE:CNX) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.06). CNX Resources had a return on equity of 4.09% and a net margin of 17.60%. The business had revenue of $605.03 million for the quarter, compared to analysts’ expectations of $357.30 million. During the same quarter last year, the company earned $0.33 earnings per share. The firm’s revenue for the quarter was up 50.5% on a year-over-year basis. Analysts expect that CNX Resources Corp will post 0.57 EPS for the current fiscal year.

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

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