Federated Hermes Inc. Cuts Stock Position in CNX Resources Co. (NYSE:CNX)

Federated Hermes Inc. lowered its holdings in CNX Resources Co. (NYSE:CNX) by 27.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,812 shares of the oil and gas producer’s stock after selling 12,953 shares during the period. Federated Hermes Inc.’s holdings in CNX Resources were worth $696,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Neo Ivy Capital Management purchased a new position in CNX Resources in the third quarter worth $26,000. BluePath Capital Management LLC purchased a new position in CNX Resources in the third quarter worth $32,000. Castleview Partners LLC bought a new stake in shares of CNX Resources in the third quarter valued at $41,000. Adirondack Trust Co. bought a new stake in shares of CNX Resources in the third quarter valued at $54,000. Finally, Nomura Asset Management Co. Ltd. raised its stake in shares of CNX Resources by 30.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 2,540 shares of the oil and gas producer’s stock valued at $57,000 after buying an additional 590 shares during the period. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Timothy Scott Bedard acquired 1,226 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was purchased at an average cost of $20.50 per share, for a total transaction of $25,133.00. Following the acquisition, the executive vice president now owns 1,226 shares of the company’s stock, valued at $25,133. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Roth Mkm boosted their target price on CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Mizuho boosted their target price on CNX Resources from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Scotiabank boosted their target price on CNX Resources from $20.00 to $25.00 and gave the company a “sector underperform” rating in a research note on Thursday, April 11th. Bank of America upgraded CNX Resources from an “underperform” rating to a “neutral” rating and set a $23.00 target price on the stock in a research note on Friday, January 5th. Finally, Piper Sandler boosted their target price on CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, April 19th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $24.43.

CNX Resources Stock Performance

NYSE:CNX opened at $23.19 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.51 and a current ratio of 0.53. CNX Resources Co. has a 52-week low of $14.41 and a 52-week high of $24.82. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of 4.22 and a beta of 1.36. The business’s fifty day moving average is $22.79 and its 200 day moving average is $21.43.

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.