Vanguard Group Inc. Sells 288,263 Shares of CNX Resources Co. (NYSE:CNX)

Vanguard Group Inc. lessened its stake in CNX Resources Co. (NYSE:CNXFree Report) by 1.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 16,164,701 shares of the oil and gas producer’s stock after selling 288,263 shares during the quarter. Vanguard Group Inc. owned approximately 0.10% of CNX Resources worth $364,999,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in CNX Resources by 6.0% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 74,211 shares of the oil and gas producer’s stock worth $1,538,000 after acquiring an additional 4,188 shares in the last quarter. Great West Life Assurance Co. Can lifted its stake in CNX Resources by 7.2% in the 1st quarter. Great West Life Assurance Co. Can now owns 117,180 shares of the oil and gas producer’s stock valued at $2,502,000 after purchasing an additional 7,871 shares during the last quarter. Sei Investments Co. lifted its stake in CNX Resources by 7.8% in the 1st quarter. Sei Investments Co. now owns 249,181 shares of the oil and gas producer’s stock valued at $5,208,000 after purchasing an additional 17,930 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in CNX Resources by 39.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 104,255 shares of the oil and gas producer’s stock valued at $2,160,000 after purchasing an additional 29,348 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in CNX Resources by 26.2% in the 1st quarter. Allianz Asset Management GmbH now owns 53,619 shares of the oil and gas producer’s stock valued at $1,111,000 after purchasing an additional 11,142 shares during the last quarter. 95.16% of the stock is owned by institutional investors.

Insider Transactions at CNX Resources

In other CNX Resources news, EVP Timothy Scott Bedard bought 1,226 shares of the stock in a transaction dated Friday, February 23rd. The shares were bought at an average cost of $20.50 per share, with a total value of $25,133.00. Following the completion of the acquisition, the executive vice president now owns 1,226 shares of the company’s stock, valued at $25,133. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 3.72% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. StockNews.com downgraded shares of CNX Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Bank of America upgraded shares of CNX Resources from an “underperform” rating to a “neutral” rating and set a $23.00 target price for the company in a research note on Friday, January 5th. Mizuho raised their target price on shares of CNX Resources from $23.00 to $24.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Piper Sandler raised their target price on shares of CNX Resources from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, March 7th. Finally, Truist Financial raised their target price on shares of CNX Resources from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, CNX Resources currently has an average rating of “Hold” and a consensus target price of $23.40.

Get Our Latest Analysis on CNX Resources

CNX Resources Stock Down 0.6 %

CNX Resources stock opened at $22.94 on Wednesday. The stock has a market cap of $3.51 billion, a P/E ratio of 2.52, a P/E/G ratio of 1.51 and a beta of 1.32. The company has a quick ratio of 0.49, a current ratio of 0.51 and a debt-to-equity ratio of 0.43. CNX Resources Co. has a twelve month low of $14.36 and a twelve month high of $23.68. The company’s 50-day moving average price is $20.73 and its two-hundred day moving average price is $21.09.

CNX Resources (NYSE:CNXGet Free Report) last released its quarterly earnings results on Thursday, January 25th. The oil and gas producer reported $2.89 earnings per share for the quarter, beating the consensus estimate of $0.30 by $2.59. The firm had revenue of $999.50 million for the quarter, compared to analysts’ expectations of $401.62 million. CNX Resources had a net margin of 50.34% and a return on equity of 9.00%. The business’s revenue was down 38.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.64 EPS. As a group, analysts expect that CNX Resources Co. will post 1.48 EPS for the current year.

About CNX Resources

(Free Report)

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.

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Institutional Ownership by Quarter for CNX Resources (NYSE:CNX)

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