Vanguard Group Inc. Lowers Position in CNX Resources Co. (NYSE:CNX)

Vanguard Group Inc. decreased its position in shares of CNX Resources Co. (NYSE:CNX) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,783,635 shares of the oil and gas producer’s stock after selling 381,066 shares during the period. Vanguard Group Inc. owned approximately 10.40% of CNX Resources worth $315,673,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. American Century Companies Inc. raised its position in CNX Resources by 11.2% during the third quarter. American Century Companies Inc. now owns 2,154,145 shares of the oil and gas producer’s stock valued at $48,641,000 after purchasing an additional 217,753 shares in the last quarter. LSV Asset Management raised its position in CNX Resources by 223.4% during the fourth quarter. LSV Asset Management now owns 1,489,353 shares of the oil and gas producer’s stock valued at $29,787,000 after purchasing an additional 1,028,805 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in CNX Resources by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,455,350 shares of the oil and gas producer’s stock valued at $29,107,000 after purchasing an additional 9,356 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in CNX Resources during the third quarter valued at about $19,018,000. Finally, Capital Management Corp VA raised its position in CNX Resources by 25.2% during the fourth quarter. Capital Management Corp VA now owns 736,283 shares of the oil and gas producer’s stock valued at $14,726,000 after purchasing an additional 148,037 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

CNX Resources Stock Up 0.3 %

NYSE CNX opened at $24.30 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.53 and a quick ratio of 0.51. The stock has a market capitalization of $3.72 billion, a PE ratio of 4.40 and a beta of 1.34. CNX Resources Co. has a 1 year low of $17.27 and a 1 year high of $26.57. The business’s 50-day moving average is $24.50 and its 200 day moving average is $22.37.

CNX Resources (NYSE:CNX) last posted its quarterly earnings data on Thursday, April 25th. The oil and gas producer reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.09. The business had revenue of $381.00 million for 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%. Sell-side analysts forecast that CNX Resources Co. will post 1.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CNX has been the topic of a number of recent research reports. Scotiabank raised their price objective on 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 raised their price objective on CNX Resources from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Piper Sandler raised their price objective on CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, April 19th. Roth Mkm raised their price objective on CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Finally, Mizuho raised their price objective on CNX Resources from $25.00 to $29.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, CNX Resources currently has an average rating of “Hold” and a consensus target price of $25.00.

About CNX Resources

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.