ProShare Advisors LLC Has $686,000 Stock Holdings in CNX Resources Co. (NYSE:CNX)

ProShare Advisors LLC cut its holdings in shares of CNX Resources Co. (NYSE:CNX) by 20.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,224 shares of the oil and gas producer’s stock after selling 7,346 shares during the period. ProShare Advisors LLC’s holdings in CNX Resources were worth $686,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Advisory Services Network LLC lifted its position in shares of CNX Resources by 12.4% during the 4th quarter. Advisory Services Network LLC now owns 13,780 shares of the oil and gas producer’s stock worth $276,000 after buying an additional 1,518 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in shares of CNX Resources by 10.9% in the 4th quarter. Allianz Asset Management GmbH now owns 593,632 shares of the oil and gas producer’s stock valued at $11,873,000 after purchasing an additional 58,328 shares in the last quarter. TFO Wealth Partners LLC grew its holdings in shares of CNX Resources by 64,084.6% during the 4th quarter. TFO Wealth Partners LLC now owns 8,344 shares of the oil and gas producer’s stock valued at $167,000 after purchasing an additional 8,331 shares during the last quarter. Campbell & CO Investment Adviser LLC increased its position in CNX Resources by 116.4% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 52,834 shares of the oil and gas producer’s stock worth $1,057,000 after purchasing an additional 28,418 shares in the last quarter. Finally, Rafferty Asset Management LLC lifted its stake in CNX Resources by 7.1% in the 4th quarter. Rafferty Asset Management LLC now owns 351,934 shares of the oil and gas producer’s stock valued at $7,039,000 after purchasing an additional 23,195 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

CNX Resources Price Performance

CNX opened at $31.49 on Monday. The firm has a market cap of $4.83 billion, a P/E ratio of 5.70 and a beta of 1.37. The firm has a 50-day moving average of $27.25 and a 200 day moving average of $25.36. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.40 and a current ratio of 0.41. CNX Resources Co. has a fifty-two week low of $19.07 and a fifty-two week high of $32.26.

CNX Resources (NYSE:CNX) last posted its quarterly earnings results on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.09. The company had revenue of $321.44 million during the quarter, compared to analyst estimates of $387.46 million. CNX Resources had a net margin of 26.64% and a return on equity of 7.51%. During the same quarter in the prior year, the business earned $0.29 earnings per share. On average, research analysts expect that CNX Resources Co. will post 1.44 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on CNX. JPMorgan Chase & Co. raised their price objective on CNX Resources from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Stephens reiterated an “equal weight” rating and issued a $27.00 price objective on shares of CNX Resources in a report on Monday, July 15th. Truist Financial boosted 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. StockNews.com lowered shares of CNX Resources from a “hold” rating to a “sell” rating in a report on Saturday, August 3rd. Finally, Scotiabank boosted their target price on shares of CNX Resources from $25.00 to $27.00 and gave the stock a “sector underperform” rating in a report on Tuesday, August 20th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $26.13.

Insider Activity at CNX Resources

In related news, Director Bernard Lanigan, Jr. purchased 75,000 shares of CNX Resources stock in a transaction that occurred on Monday, September 9th. The stock was bought at an average price of $26.81 per share, for a total transaction of $2,010,750.00. Following the completion of the transaction, the director now owns 401,820 shares in the company, valued at $10,772,794.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.10% of the stock is owned by company insiders.

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.