Allspring Global Investments Holdings LLC Boosts Stake in CNX Resources Co. (NYSE:CNX)

Allspring Global Investments Holdings LLC lifted its holdings in CNX Resources Co. (NYSE:CNX) by 243.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,656 shares of the oil and gas producer’s stock after purchasing an additional 51,490 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in CNX Resources were worth $1,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Neo Ivy Capital Management purchased a new position in shares of CNX Resources in the third quarter worth $26,000. Hexagon Capital Partners LLC raised its stake in shares of CNX Resources by 113.4% in the first quarter. Hexagon Capital Partners LLC now owns 2,138 shares of the oil and gas producer’s stock worth $51,000 after purchasing an additional 1,136 shares during the last quarter. First Eagle Investment Management LLC purchased a new position in shares of CNX Resources in the fourth quarter worth $55,000. TFO Wealth Partners LLC raised its stake 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 worth $167,000 after purchasing an additional 8,331 shares during the last quarter. Finally, Gateway Investment Advisers LLC purchased a new position in shares of CNX Resources in the first quarter worth $231,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on CNX shares. Truist Financial lifted their price objective on CNX Resources from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Scotiabank lifted their price objective on CNX Resources from $20.00 to $25.00 and gave the stock a “sector underperform” rating in a report on Thursday, April 11th. Roth Mkm lifted their price objective on CNX Resources from $18.00 to $22.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Mizuho lifted their price objective on CNX Resources from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Finally, Piper Sandler lifted their price objective on CNX Resources from $18.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, April 19th. 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $25.00.

CNX Resources Stock Performance

NYSE:CNX opened at $24.81 on Thursday. The stock has a 50-day simple moving average of $24.52 and a two-hundred day simple moving average of $22.46. CNX Resources Co. has a 52-week low of $17.27 and a 52-week high of $26.57. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.51 and a current ratio of 0.53. The firm has a market capitalization of $3.80 billion, a PE ratio of 4.49 and a beta of 1.38.

CNX Resources (NYSE:CNX) last released its quarterly earnings results on Thursday, April 25th. The oil and gas producer reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.09. CNX Resources had a return on equity of 7.68% and a net margin of 40.44%. The business had revenue of $381.00 million during the quarter, compared to analyst estimates of $420.13 million. Analysts forecast that CNX Resources Co. will post 1.32 EPS for the current year.

CNX Resources Company 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.