Systematic Financial Management LP Invests in CNX Resources Co. (NYSE: CNX)

Systematic Financial Management LP has made a new investment in CNX Resources Co. (NYSE:CNX) during the third quarter of the year. This information was disclosed in their latest Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 27,087 shares of the oil and gas producer, with a total investment amounting to approximately $882,000.

In addition to Systematic Financial Management LP, several other institutional investors have also adjusted their positions in CNX Resources. Sequoia Financial Advisors LLC increased its stake in CNX by 3.5% during the third quarter, now holding 13,135 shares valued at $428,000 after acquiring an additional 442 shares. Pullen Investment Management LLC raised its stake by 2.3% in the second quarter, resulting in ownership of 27,399 shares valued at $666,000 after buying 623 more shares. Furthermore, GAMMA Investing LLC boosted its holdings by 54.1% in the second quarter, bringing their total to 1,896 shares worth $46,000 after purchasing an additional 666 shares.

CWM LLC expanded its stake in CNX Resources by an impressive 77.0% in the third quarter. They now own 2,149 shares valued at $70,000, following the acquisition of 935 additional shares. Vanguard Personalized Indexing Management LLC also increased its holdings by 3.3% during the second quarter, now owning 29,307 shares valued at $712,000 after acquiring 941 more shares. Overall, institutional investors control approximately 95.16% of CNX Resources' stock.

Insider Transactions

In related news, Director Bernard Lanigan, Jr. purchased 75,000 shares of CNX Resources stock on September 9th. The shares were bought at an average price of $26.81 each, totaling around $2,010,750. Following this transaction, the director holds 401,820 shares, valued at approximately $10,772,794. This acquisition reflects a 22.95% growth in his ownership position. The details of this trade were filed with the SEC and are available for review. Currently, company insiders own about 3.10% of the stock.

Analyst Recommendations

Several analysts have provided updates regarding CNX Resources. Truist Financial raised their target price from $34.00 to $35.00 while maintaining a "hold" rating. Conversely, Tudor Pickering has upgraded CNX to a "strong sell" rating. Bank of America began coverage on the stock, issuing an "underperform" rating with a target price of $34.00. Mizuho also lifted their target from $32.00 to $33.00 with a "neutral" rating. Stephens raised their price target from $26.00 to $35.00, giving the company an "equal weight" rating. Currently, seven analysts have rated the stock as a sell, while six have issued a hold rating. The consensus among analysts is a "Reduce" rating, with a target price of $30.00 based on MarketBeat data.

CNX Resources Stock Performance

As of the last trading session, CNX Resources (NYSE:CNX) opened at a price of $36.82. The company holds a market capitalization of $5.50 billion, with a PE ratio of 11.58 and a P/E/G ratio of 1.93. Over the last 50 days, the average price of the stock has been $36.83, while the 200-day moving average sits at $29.93. The current debt-to-equity ratio is 0.46, with a quick ratio of 0.36 and a current ratio of 0.37. CNX Resources has experienced a 52-week low of $19.07 and a high of $41.93.

CNX Resources recently announced its earnings for the quarter ending October 24th. The company reported earnings per share of $0.41, surpassing analysts' expectations of $0.32 by $0.09. CNX reported a return on equity of 7.54% and a net margin of 27.79%. The revenue for this quarter was $424.21 million, compared to the estimated $398.33 million. When comparing with the previous year’s quarter, the company had earnings of $0.35 per share. Analysts project that CNX Resources will achieve an EPS of 1.53 for the current fiscal year.

Company Overview

CNX Resources Corporation is an independent company focused on natural gas and midstream operations, involved in the acquisition, exploration, development, and production of natural gas properties, primarily located in the Appalachian Basin. The company operates through two segments: Shale and Coalbed Methane (CBM), producing and selling pipeline-quality natural gas mainly to gas wholesalers.

Investment, Stocks, Analyst