CNX Resources Co. (NYSE:CNX) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in CNX Resources Co. (NYSE:CNX) by 8.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,929 shares of the oil and gas producer’s stock after purchasing an additional 3,052 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CNX Resources were worth $946,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new position in CNX Resources during the 4th quarter worth approximately $2,176,000. New York State Common Retirement Fund lifted its position in CNX Resources by 25.5% during the fourth quarter. New York State Common Retirement Fund now owns 104,131 shares of the oil and gas producer’s stock valued at $2,083,000 after purchasing an additional 21,131 shares during the period. Van ECK Associates Corp purchased a new stake in CNX Resources in the fourth quarter valued at $960,000. Victory Capital Management Inc. grew its position in CNX Resources by 21.9% during the 4th quarter. Victory Capital Management Inc. now owns 93,497 shares of the oil and gas producer’s stock worth $1,870,000 after purchasing an additional 16,827 shares during the period. Finally, M&T Bank Corp raised its stake in shares of CNX Resources by 10.5% during the 4th quarter. M&T Bank Corp now owns 10,657 shares of the oil and gas producer’s stock valued at $214,000 after buying an additional 1,014 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

CNX Resources Stock Performance

CNX opened at $27.11 on Wednesday. The firm’s fifty day simple moving average is $25.93 and its two-hundred day simple moving average is $24.35. CNX Resources Co. has a 52-week low of $19.07 and a 52-week high of $28.23. The company has a market cap of $4.15 billion, a price-to-earnings ratio of 4.91 and a beta of 1.37. The company has a quick ratio of 0.40, a current ratio of 0.41 and a debt-to-equity ratio of 0.46.

CNX Resources (NYSE:CNX) last issued its quarterly earnings results on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.09. CNX Resources had a net margin of 26.64% and a return on equity of 7.51%. The firm had revenue of $321.44 million for the quarter, compared to analyst estimates of $387.46 million. During the same period last year, the company posted $0.29 EPS. Equities analysts anticipate that CNX Resources Co. will post 1.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Stephens restated an “equal weight” rating and issued a $27.00 target price on shares of CNX Resources in a research note on Monday, July 15th. Scotiabank lifted their target price on shares of CNX Resources from $25.00 to $27.00 and gave the company a “sector underperform” rating in a report on Tuesday, August 20th. StockNews.com cut shares of CNX Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd. Mizuho raised their price target on shares of CNX Resources from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. Finally, Piper Sandler downgraded shares of CNX Resources from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $22.00 to $20.00 in a research report on Thursday, August 15th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, CNX Resources has a consensus rating of “Hold” and a consensus price target of $25.57.

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.