LSV Asset Management Acquires 23,800 Shares of CNX Resources Co. (NYSE:CNX)

LSV Asset Management increased its holdings in shares of CNX Resources Co. (NYSE:CNX) by 1.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,780,921 shares of the oil and gas producer’s stock after acquiring an additional 23,800 shares during the period. LSV Asset Management owned about 1.16% of CNX Resources worth $43,276,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CNX. Dynamic Technology Lab Private Ltd acquired a new stake in CNX Resources during the fourth quarter valued at approximately $798,000. Parkwood LLC grew its position in CNX Resources by 11.2% in the fourth quarter. Parkwood LLC now owns 490,435 shares of the oil and gas producer’s stock valued at $9,809,000 after acquiring an additional 49,278 shares during the period. QRG Capital Management Inc. grew its position in CNX Resources by 13.8% in the second quarter. QRG Capital Management Inc. now owns 190,498 shares of the oil and gas producer’s stock valued at $4,629,000 after acquiring an additional 23,069 shares during the period. Duality Advisers LP raised its stake in CNX Resources by 61.1% during the first quarter. Duality Advisers LP now owns 131,196 shares of the oil and gas producer’s stock worth $3,112,000 after acquiring an additional 49,741 shares in the last quarter. Finally, Boston Partners bought a new position in shares of CNX Resources during the first quarter valued at $951,000. Institutional investors own 95.16% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Truist Financial upped their target price on shares of CNX Resources from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Scotiabank upped their price objective on shares of CNX Resources from $25.00 to $27.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, August 20th. Piper Sandler cut shares of CNX Resources from a “neutral” rating to an “underweight” rating and cut their target price for the company from $22.00 to $20.00 in a research note on Thursday, August 15th. StockNews.com downgraded CNX Resources from a “hold” rating to a “sell” rating in a report on Saturday, August 3rd. Finally, Stephens reaffirmed an “equal weight” rating and set a $27.00 price target on shares of CNX Resources in a report on Monday, July 15th. Three analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $25.57.

CNX Resources Price Performance

Shares of CNX stock opened at $26.72 on Tuesday. CNX Resources Co. has a 1 year low of $19.07 and a 1 year high of $28.23. The company has a current ratio of 0.41, a quick ratio of 0.40 and a debt-to-equity ratio of 0.46. The firm’s 50 day moving average is $26.16 and its 200-day moving average is $24.54. The firm has a market capitalization of $4.04 billion, a price-to-earnings ratio of 4.84 and a beta of 1.37.

CNX Resources (NYSE:CNX) last posted its quarterly earnings data on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.09. The firm had revenue of $321.44 million for the quarter, compared to the consensus estimate of $387.46 million. CNX Resources had a return on equity of 7.51% and a net margin of 26.64%. During the same quarter in the prior year, the business earned $0.29 EPS. Sell-side analysts forecast that CNX Resources Co. will post 1.47 EPS for the current fiscal year.

CNX Resources 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.