American Century Companies Inc. Buys 397,729 Shares of CNX Resources Co. (NYSE:CNX)

American Century Companies Inc. lifted its holdings in CNX Resources Co. (NYSE:CNX) by 12.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,699,186 shares of the oil and gas producer’s stock after purchasing an additional 397,729 shares during the quarter. American Century Companies Inc. owned about 2.41% of CNX Resources worth $89,890,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Texas Permanent School Fund Corp grew its position in shares of CNX Resources by 68.9% in the 2nd quarter. Texas Permanent School Fund Corp now owns 224,416 shares of the oil and gas producer’s stock valued at $5,453,000 after purchasing an additional 91,570 shares during the period. Choreo LLC acquired a new position in shares of CNX Resources in the 2nd quarter valued at approximately $701,000. LSV Asset Management grew its position in shares of CNX Resources by 1.4% in the 2nd quarter. LSV Asset Management now owns 1,780,921 shares of the oil and gas producer’s stock valued at $43,276,000 after purchasing an additional 23,800 shares during the period. Paralel Advisors LLC acquired a new position in shares of CNX Resources in the 2nd quarter valued at approximately $2,338,000. Finally, Legacy Capital Wealth Partners LLC acquired a new position in CNX Resources during the 2nd quarter worth approximately $205,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Bernard Lanigan, Jr. acquired 75,000 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was purchased at an average cost of $26.81 per share, for a total transaction of $2,010,750.00. Following the acquisition, the director now owns 401,820 shares of the company’s stock, valued at $10,772,794.20. 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.

CNX Resources Stock Up 1.1 %

Shares of NYSE:CNX opened at $27.34 on Friday. The stock has a market cap of $4.13 billion, a price-to-earnings ratio of 4.95 and a beta of 1.37. The company has a quick ratio of 0.40, a current ratio of 0.41 and a debt-to-equity ratio of 0.46. CNX Resources Co. has a 12-month low of $19.07 and a 12-month high of $28.23. The business’s 50 day moving average is $26.35 and its 200 day moving average is $24.69.

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Piper Sandler downgraded CNX Resources from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $22.00 to $20.00 in a research report on Thursday, August 15th. Stephens reaffirmed an “equal weight” rating and set a $27.00 price target on shares of CNX Resources in a research report on Monday, July 15th. StockNews.com downgraded CNX Resources from a “hold” rating to a “sell” rating in a research report on Saturday, August 3rd. Scotiabank increased their price objective on CNX Resources from $25.00 to $27.00 and gave the company a “sector underperform” rating in a report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. increased their price target on CNX Resources from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, CNX Resources presently has an average rating of “Hold” and a consensus target price of $25.75.

About CNX Resources

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.