Allianz Asset Management GmbH Has $4.06 Million Holdings in CNX Resources Corporation. $CNX

Allianz Asset Management GmbH trimmed its position in shares of CNX Resources Corporation. (NYSE:CNX) by 63.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 126,488 shares of the oil and gas producer’s stock after selling 219,425 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.09% of CNX Resources worth $4,063,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. State of Wyoming acquired a new stake in CNX Resources in the second quarter valued at approximately $29,000. Ameritas Advisory Services LLC bought a new position in shares of CNX Resources during the 2nd quarter valued at $32,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of CNX Resources in the 2nd quarter valued at $46,000. EverSource Wealth Advisors LLC lifted its stake in shares of CNX Resources by 393.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,925 shares of the oil and gas producer’s stock valued at $65,000 after purchasing an additional 1,535 shares during the last quarter. Finally, MTM Investment Management LLC bought a new stake in CNX Resources in the second quarter worth $67,000. Institutional investors own 95.16% of the company’s stock.

CNX Resources Trading Up 1.0%

Shares of CNX Resources stock opened at $39.38 on Wednesday. CNX Resources Corporation. has a 1 year low of $27.68 and a 1 year high of $42.13. The company’s fifty day simple moving average is $37.66 and its 200-day simple moving average is $34.07. The company has a market cap of $5.31 billion, a price-to-earnings ratio of 10.70, a PEG ratio of 0.40 and a beta of 0.66. The company has a current ratio of 0.44, a quick ratio of 0.41 and a debt-to-equity ratio of 0.52.

CNX Resources (NYSE:CNX) last issued its quarterly earnings results on Thursday, January 29th. The oil and gas producer reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.94. CNX Resources had a net margin of 28.28% and a return on equity of 9.29%. The firm had revenue of $610.48 million during the quarter, compared to the consensus estimate of $422.65 million. During the same period in the prior year, the firm earned ($0.97) EPS. The business’s revenue was up 347.0% on a year-over-year basis. As a group, sell-side analysts expect that CNX Resources Corporation. will post 2.18 EPS for the current year.

Wall Street Analysts Forecast Growth

CNX has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised CNX Resources from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $36.00 to $38.00 in a research report on Monday, December 8th. Roth Mkm set a $35.00 target price on CNX Resources and gave the stock a “neutral” rating in a report on Thursday, January 29th. Morgan Stanley increased their price target on CNX Resources from $31.00 to $32.00 and gave the company an “underweight” rating in a report on Friday, January 23rd. Zacks Research lowered shares of CNX Resources from a “hold” rating to a “strong sell” rating in a research report on Monday, January 19th. Finally, Scotiabank reaffirmed a “sector perform” rating and set a $44.00 price objective on shares of CNX Resources in a report on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $36.00.

CNX Resources Company Profile

CNX Resources Corporation is a natural gas and natural gas liquids producer with operations concentrated in the Appalachian Basin. Established as an independent, publicly traded entity in 2018 following its spinoff from Consol Energy, the company focuses on the exploration, development and production of hydrocarbon resources in the Marcellus and Utica shales across Pennsylvania, West Virginia and Ohio.

In addition to its upstream activities, CNX Resources has invested in midstream infrastructure through its subsidiary that gathers, processes and transports natural gas.