Swiss National Bank Sells 2,100 Shares of CNX Resources Co. (NYSE:CNX)

Swiss National Bank reduced its position in CNX Resources Co. (NYSE:CNX) by 0.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 299,158 shares of the oil and gas producer’s stock after selling 2,100 shares during the quarter. Swiss National Bank owned 0.20% of CNX Resources worth $9,744,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Mizuho Markets Americas LLC purchased a new stake in shares of CNX Resources in the 2nd quarter worth approximately $97,200,000. American Century Companies Inc. lifted its holdings 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 buying an additional 397,729 shares during the period. Renaissance Technologies LLC boosted its position in CNX Resources by 197.0% during the 2nd quarter. Renaissance Technologies LLC now owns 466,016 shares of the oil and gas producer’s stock valued at $11,324,000 after acquiring an additional 309,100 shares in the last quarter. Levin Capital Strategies L.P. purchased a new position in shares of CNX Resources in the 1st quarter valued at $4,813,000. Finally, Federated Hermes Inc. raised its position in shares of CNX Resources by 212.5% in the 2nd quarter. Federated Hermes Inc. now owns 147,197 shares of the oil and gas producer’s stock worth $3,577,000 after acquiring an additional 100,095 shares in the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

CNX Resources Trading Up 1.1 %

Shares of NYSE:CNX opened at $41.09 on Monday. CNX Resources Co. has a 52-week low of $19.07 and a 52-week high of $41.17. The company has a quick ratio of 0.36, a current ratio of 0.37 and a debt-to-equity ratio of 0.46. The stock has a market cap of $6.13 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 1.97 and a beta of 1.37. The business has a 50-day moving average price of $35.00 and a 200-day moving average price of $28.92.

CNX Resources (NYSE:CNX) last issued its quarterly earnings data on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.09. The business had revenue of $424.21 million during the quarter, compared to analysts’ expectations of $398.33 million. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. During the same quarter in the previous year, the firm posted $0.35 EPS. Equities analysts predict that CNX Resources Co. will post 1.53 EPS for the current year.

Insider Activity at CNX Resources

In related news, Director Bernard Lanigan, Jr. purchased 75,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was bought at an average price of $26.81 per share, with a total value of $2,010,750.00. Following the acquisition, the director now owns 401,820 shares in the company, valued at $10,772,794.20. The trade was a 22.95 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have issued reports on CNX. BMO Capital Markets lifted their target price on CNX Resources from $26.00 to $29.00 and gave the company a “market perform” rating in a research note on Friday, October 4th. Piper Sandler cut shares of CNX Resources from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $22.00 to $20.00 in a research report on Thursday, August 15th. Stephens lifted their price target on shares of CNX Resources from $26.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Bank of America began coverage on CNX Resources in a report on Monday, October 28th. They set an “underperform” rating and a $34.00 price objective for the company. Finally, Tudor, Pickering, Holt & Co. downgraded CNX Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. Six research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat.com, CNX Resources presently has a consensus rating of “Hold” and an average target price of $29.00.

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.