Capital Research Global Investors Has $126.87 Million Stock Position in CNX Resources Corporation. $CNX

Capital Research Global Investors raised its holdings in shares of CNX Resources Corporation. (NYSE:CNX) by 38.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 3,950,000 shares of the oil and gas producer’s stock after buying an additional 1,100,000 shares during the period. Capital Research Global Investors’ holdings in CNX Resources were worth $126,874,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CNX. American Century Companies Inc. lifted its position in shares of CNX Resources by 16.3% in the third quarter. American Century Companies Inc. now owns 3,236,441 shares of the oil and gas producer’s stock worth $103,954,000 after purchasing an additional 454,071 shares in the last quarter. Southeast Asset Advisors LLC grew its position in CNX Resources by 0.3% in the second quarter. Southeast Asset Advisors LLC now owns 2,414,955 shares of the oil and gas producer’s stock valued at $81,336,000 after purchasing an additional 6,930 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its stake in CNX Resources by 16.7% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,400,000 shares of the oil and gas producer’s stock valued at $47,152,000 after buying an additional 200,000 shares during the last quarter. AQR Capital Management LLC increased its stake in CNX Resources by 112.2% in the 2nd quarter. AQR Capital Management LLC now owns 1,007,486 shares of the oil and gas producer’s stock valued at $33,932,000 after buying an additional 532,770 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in CNX Resources by 1.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 661,464 shares of the oil and gas producer’s stock worth $22,278,000 after buying an additional 11,475 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at CNX Resources

In other news, Director Bernard Lanigan, Jr. sold 46,119 shares of CNX Resources stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $40.60, for a total transaction of $1,872,431.40. Following the completion of the sale, the director owned 177,180 shares of the company’s stock, valued at approximately $7,193,508. This trade represents a 20.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. upgraded shares of CNX Resources from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $36.00 to $38.00 in a research note on Monday, December 8th. Piper Sandler set a $26.00 target price on CNX Resources in a research report on Monday, February 2nd. Mizuho upped their target price on CNX Resources from $35.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. Morgan Stanley increased their price target on CNX Resources from $31.00 to $32.00 and gave the company an “underweight” rating in a research report on Friday, January 23rd. Finally, Scotiabank restated a “sector perform” rating and issued a $44.00 price target on shares of CNX Resources in a research note on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $36.00.

CNX Resources Price Performance

CNX Resources stock opened at $40.81 on Thursday. The company has a market capitalization of $5.81 billion, a price-to-earnings ratio of 11.09, a PEG ratio of 0.41 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 Corporation. has a 12 month low of $27.68 and a 12 month high of $43.62. The stock’s 50 day moving average is $38.48 and its 200-day moving average is $35.69.

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

About CNX Resources

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.