PNC Financial Services Group Inc. Trims Holdings in CNX Resources Co. (NYSE:CNX)

PNC Financial Services Group Inc. lowered its holdings in shares of CNX Resources Co. (NYSE:CNX) by 10.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,841 shares of the oil and gas producer’s stock after selling 3,417 shares during the period. PNC Financial Services Group Inc.’s holdings in CNX Resources were worth $577,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of CNX. Neo Ivy Capital Management purchased a new position in shares of CNX Resources during the third quarter worth about $26,000. First Eagle Investment Management LLC purchased a new position in shares of CNX Resources in the 4th quarter valued at approximately $55,000. TFO Wealth Partners LLC increased its holdings in shares of CNX Resources by 64,084.6% in the fourth quarter. TFO Wealth Partners LLC now owns 8,344 shares of the oil and gas producer’s stock valued at $167,000 after purchasing an additional 8,331 shares during the period. Heritage Wealth Management LLC purchased a new stake in shares of CNX Resources during the fourth quarter worth approximately $214,000. Finally, M&T Bank Corp lifted its holdings in shares of CNX Resources by 10.5% during the fourth quarter. M&T Bank Corp now owns 10,657 shares of the oil and gas producer’s stock worth $214,000 after purchasing an additional 1,014 shares during the period. 95.16% of the stock is owned by hedge funds and other institutional investors.

CNX Resources Price Performance

CNX stock opened at $24.05 on Thursday. The company has a market cap of $3.68 billion, a price-to-earnings ratio of 4.36 and a beta of 1.34. The company has a current ratio of 0.53, a quick ratio of 0.51 and a debt-to-equity ratio of 0.45. The firm has a 50 day moving average of $24.49 and a 200-day moving average of $22.31. CNX Resources Co. has a 12-month low of $16.79 and a 12-month high of $26.57.

CNX Resources (NYSE:CNX) last issued its quarterly earnings data on Thursday, April 25th. The oil and gas producer reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.09. The firm had revenue of $381.00 million during the quarter, compared to analysts’ expectations of $420.13 million. CNX Resources had a return on equity of 7.68% and a net margin of 40.44%. As a group, equities analysts expect that CNX Resources Co. will post 1.32 EPS for the current fiscal year.

Analyst Ratings Changes

CNX has been the topic of several recent research reports. Scotiabank boosted their price objective on shares of CNX Resources from $20.00 to $25.00 and gave the company a “sector underperform” rating in a research note on Thursday, April 11th. Truist Financial increased their price target on shares of CNX Resources from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Mizuho lifted their price objective on CNX Resources from $25.00 to $29.00 and gave the company a “neutral” rating in a report on Monday, May 13th. Piper Sandler boosted their target price on CNX Resources from $18.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, April 19th. Finally, Roth Mkm raised their price target on CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, CNX Resources currently has a consensus rating of “Hold” and a consensus price target of $25.00.

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.