UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Stock Holdings in CNX Resources Co. (NYSE:CNX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in CNX Resources Co. (NYSE:CNX) by 32.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 195,519 shares of the oil and gas producer’s stock after selling 94,059 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in CNX Resources were worth $6,368,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets increased its stake in CNX Resources by 231.9% in the third quarter. BNP Paribas Financial Markets now owns 104,361 shares of the oil and gas producer’s stock valued at $3,399,000 after purchasing an additional 72,914 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in CNX Resources by 12.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,860,817 shares of the oil and gas producer’s stock valued at $60,607,000 after purchasing an additional 202,890 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in CNX Resources by 311.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 616,734 shares of the oil and gas producer’s stock valued at $20,087,000 after purchasing an additional 466,694 shares during the last quarter. Natixis Advisors LLC increased its stake in CNX Resources by 3.1% in the third quarter. Natixis Advisors LLC now owns 41,644 shares of the oil and gas producer’s stock valued at $1,356,000 after purchasing an additional 1,241 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new position in CNX Resources in the third quarter valued at approximately $205,000. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

CNX Resources Price Performance

Shares of NYSE CNX opened at $36.90 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.37 and a quick ratio of 0.36. The stock has a fifty day moving average price of $37.00 and a 200 day moving average price of $30.17. CNX Resources Co. has a 1-year low of $19.07 and a 1-year high of $41.93. The company has a market cap of $5.51 billion, a PE ratio of 11.60, a P/E/G ratio of 1.78 and a beta of 1.43.

CNX Resources (NYSE:CNX) last issued its quarterly earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.09. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. The firm had revenue of $424.21 million during the quarter, compared to the consensus estimate of $398.33 million. During the same period last year, the company earned $0.35 earnings per share. Sell-side analysts forecast that CNX Resources Co. will post 1.53 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CNX. Tudor Pickering upgraded shares of CNX Resources to a “strong sell” rating in a research report on Tuesday, October 1st. Truist Financial raised their target price on shares of CNX Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. BMO Capital Markets raised their target price on shares of CNX Resources from $26.00 to $29.00 and gave the stock a “market perform” rating in a research report on Friday, October 4th. Tudor, Pickering, Holt & Co. lowered shares of CNX Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Finally, Scotiabank raised their target price on shares of CNX Resources from $25.00 to $27.00 and gave the stock a “sector underperform” rating in a research report on Tuesday, August 20th. Seven investment analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, CNX Resources has an average rating of “Reduce” and a consensus target price of $30.00.

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.