PNC Financial Services Group Inc. Has $358,000 Position in CNX Resources Co. (NYSE:CNX)

PNC Financial Services Group Inc. lessened its stake in CNX Resources Co. (NYSE:CNX) by 25.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,766 shares of the oil and gas producer’s stock after selling 3,414 shares during the quarter. PNC Financial Services Group Inc.’s holdings in CNX Resources were worth $358,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CNX. Principal Securities Inc. grew its holdings in shares of CNX Resources by 38.5% during the 4th quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer’s stock valued at $91,000 after acquiring an additional 691 shares in the last quarter. SeaBridge Investment Advisors LLC grew its stake in CNX Resources by 0.8% in the fourth quarter. SeaBridge Investment Advisors LLC now owns 90,301 shares of the oil and gas producer’s stock valued at $3,311,000 after purchasing an additional 759 shares in the last quarter. Natixis Advisors LLC increased its position in CNX Resources by 3.1% in the 3rd quarter. Natixis Advisors LLC now owns 41,644 shares of the oil and gas producer’s stock worth $1,356,000 after purchasing an additional 1,241 shares during the last quarter. Blue Trust Inc. raised its stake in shares of CNX Resources by 65.1% during the 4th quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer’s stock worth $119,000 after purchasing an additional 1,280 shares in the last quarter. Finally, KBC Group NV lifted its holdings in shares of CNX Resources by 41.0% during the 4th quarter. KBC Group NV now owns 6,216 shares of the oil and gas producer’s stock valued at $228,000 after buying an additional 1,806 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CNX shares. Truist Financial increased their price objective on CNX Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Morgan Stanley initiated coverage on shares of CNX Resources in a research note on Friday, January 10th. They set an “underweight” rating and a $29.00 price target on the stock. Piper Sandler reduced their price objective on shares of CNX Resources from $23.00 to $22.00 and set an “underweight” rating for the company in a research note on Wednesday, January 29th. Raymond James raised shares of CNX Resources from an “underperform” rating to a “market perform” rating in a research report on Tuesday, February 18th. Finally, Mizuho reduced their price target on CNX Resources from $38.00 to $34.00 and set an “underperform” rating for the company in a research report on Tuesday, January 14th. Nine equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $30.38.

Insider Activity at CNX Resources

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of CNX Resources stock in a transaction on Monday, January 6th. The shares were sold at an average price of $31.09, for a total transaction of $33,421,750.00. Following the sale, the insider now owns 13,925,000 shares in the company, valued at $432,928,250. The trade was a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.10% of the company’s stock.

CNX Resources Trading Down 1.4 %

Shares of CNX Resources stock opened at $31.98 on Friday. The company has a market cap of $4.76 billion, a price-to-earnings ratio of -47.03, a PEG ratio of 0.42 and a beta of 1.26. CNX Resources Co. has a 1 year low of $22.25 and a 1 year high of $41.93. The company’s fifty day simple moving average is $29.68 and its 200-day simple moving average is $33.02. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 0.45.

CNX Resources (NYSE:CNX) last posted its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.14. CNX Resources had a negative net margin of 7.14% and a positive return on equity of 6.72%. As a group, sell-side analysts expect that CNX Resources Co. will post 2.18 EPS for the current year.

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.