Federated Hermes Inc. Has $3.58 Million Stock Position in CNX Resources Co. (NYSE:CNX)

Federated Hermes Inc. boosted its stake in shares of CNX Resources Co. (NYSE:CNX) by 212.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 147,197 shares of the oil and gas producer’s stock after purchasing an additional 100,095 shares during the period. Federated Hermes Inc. owned 0.10% of CNX Resources worth $3,577,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Mizuho Markets Americas LLC acquired a new stake in shares of CNX Resources in the 2nd quarter valued at approximately $97,200,000. American Century Companies Inc. boosted its position in CNX Resources by 12.0% during the second quarter. American Century Companies Inc. now owns 3,699,186 shares of the oil and gas producer’s stock worth $89,890,000 after purchasing an additional 397,729 shares during the period. LSV Asset Management raised its position in shares of CNX Resources by 18.0% in the first quarter. LSV Asset Management now owns 1,757,121 shares of the oil and gas producer’s stock valued at $41,679,000 after purchasing an additional 267,768 shares during the period. Quantbot Technologies LP lifted its stake in shares of CNX Resources by 533.4% during the 1st quarter. Quantbot Technologies LP now owns 286,480 shares of the oil and gas producer’s stock worth $6,795,000 after buying an additional 241,250 shares during the last quarter. Finally, Levin Capital Strategies L.P. bought a new stake in shares of CNX Resources during the 1st quarter worth about $4,813,000. 95.16% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Bernard Lanigan, Jr. purchased 75,000 shares of CNX Resources stock in a transaction dated Monday, September 9th. The shares were bought at an average cost of $26.81 per share, for a total transaction of $2,010,750.00. Following the purchase, the director now owns 401,820 shares in the company, valued at approximately $10,772,794.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Truist Financial raised their price objective on shares of CNX Resources from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. StockNews.com downgraded CNX Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd. JPMorgan Chase & Co. increased their price objective on CNX Resources from $26.00 to $27.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Scotiabank lifted their target price on CNX Resources from $25.00 to $27.00 and gave the stock a “sector underperform” rating in a report on Tuesday, August 20th. Finally, Stephens restated an “equal weight” rating and issued a $27.00 price target on shares of CNX Resources in a research note on Monday, July 15th. Three 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $26.13.

CNX Resources Trading Up 2.1 %

Shares of CNX Resources stock opened at $30.04 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.41 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $4.60 billion, a price-to-earnings ratio of 5.45 and a beta of 1.37. The firm’s 50-day moving average price is $26.55 and its two-hundred day moving average price is $24.86. CNX Resources Co. has a 12-month low of $19.07 and a 12-month high of $30.22.

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

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.