Charles Schwab Investment Management Inc. Boosts Stock Holdings in CNX Resources Co. (NYSE:CNX)

Charles Schwab Investment Management Inc. grew its holdings in CNX Resources Co. (NYSE:CNX) by 7.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,000,464 shares of the oil and gas producer’s stock after buying an additional 139,647 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.34% of CNX Resources worth $73,357,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Bailard Inc. grew its stake in shares of CNX Resources by 46.6% in the 4th quarter. Bailard Inc. now owns 19,500 shares of the oil and gas producer’s stock worth $715,000 after buying an additional 6,200 shares in the last quarter. Wakefield Asset Management LLLP purchased a new position in shares of CNX Resources in the 4th quarter worth $1,047,000. QRG Capital Management Inc. grew its stake in shares of CNX Resources by 3.7% in the 4th quarter. QRG Capital Management Inc. now owns 200,732 shares of the oil and gas producer’s stock worth $7,361,000 after buying an additional 7,086 shares in the last quarter. Avalon Capital Management purchased a new position in shares of CNX Resources in the 4th quarter worth $254,000. Finally, Convergence Investment Partners LLC purchased a new position in shares of CNX Resources in the 4th quarter worth $1,556,000. 95.16% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $31.09, for a total value of $33,421,750.00. Following the completion of the sale, the insider now owns 13,925,000 shares in the company, valued at approximately $432,928,250. The trade was a 7.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 3.10% of the company’s stock.

CNX Resources Trading Down 2.5 %

Shares of CNX opened at $29.84 on Wednesday. CNX Resources Co. has a 1-year low of $21.00 and a 1-year high of $41.93. The company has a 50-day moving average of $29.96 and a 200 day moving average of $32.94. The firm has a market capitalization of $4.44 billion, a price-to-earnings ratio of -43.87, a PEG ratio of 0.42 and a beta of 1.26. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32.

CNX Resources (NYSE:CNX) last announced its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates 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%. On average, research analysts expect that CNX Resources Co. will post 2.18 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Mizuho dropped their price objective on shares of CNX Resources from $38.00 to $34.00 and set an “underperform” rating for the company in a research note on Tuesday, January 14th. Morgan Stanley began coverage on shares of CNX Resources in a report on Friday, January 10th. They issued an “underweight” rating and a $29.00 target price for the company. Piper Sandler lowered their target price on shares of CNX Resources from $23.00 to $22.00 and set an “underweight” rating for the company in a report on Wednesday, January 29th. JPMorgan Chase & Co. lowered shares of CNX Resources from a “neutral” rating to an “underweight” rating and raised their target price for the stock from $31.00 to $37.00 in a report on Thursday, December 5th. Finally, Raymond James upgraded shares of CNX Resources from an “underperform” rating to a “market perform” rating in a report on Tuesday, February 18th. Nine analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $29.69.

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.