Zurcher Kantonalbank Zurich Cantonalbank Has $1.70 Million Stock Position in CNX Resources Co. (NYSE:CNX)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in CNX Resources Co. (NYSE:CNX) by 19.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 46,330 shares of the oil and gas producer’s stock after acquiring an additional 7,401 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CNX Resources were worth $1,699,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Principal Securities Inc. lifted its position in shares of CNX Resources by 38.5% in the 4th quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer’s stock worth $91,000 after acquiring an additional 691 shares during the period. Blue Trust Inc. lifted its position in shares of CNX Resources by 65.1% in the 4th quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer’s stock worth $119,000 after acquiring an additional 1,280 shares during the period. Heck Capital Advisors LLC bought a new stake in shares of CNX Resources in the 4th quarter worth approximately $121,000. Oppenheimer Asset Management Inc. bought a new stake in shares of CNX Resources in the 3rd quarter worth approximately $205,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of CNX Resources during the 3rd quarter worth approximately $209,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

CNX Resources Stock Up 0.6 %

NYSE CNX opened at $30.69 on Tuesday. The stock has a fifty day moving average of $29.61 and a 200-day moving average of $33.01. The stock has a market capitalization of $4.57 billion, a P/E ratio of -45.13, a price-to-earnings-growth ratio of 0.42 and a beta of 1.26. CNX Resources Co. has a 52 week low of $21.07 and a 52 week high of $41.93. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.32 and a current ratio of 0.33.

CNX Resources (NYSE:CNX) last released its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 EPS for the quarter, beating the consensus estimate of $0.43 by $0.14. CNX Resources had a positive return on equity of 6.72% and a negative net margin of 7.14%. On average, equities research analysts forecast that CNX Resources Co. will post 2.18 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of CNX Resources stock in a transaction on Monday, January 6th. The stock was sold at an average price of $31.09, for a total transaction of $33,421,750.00. Following the completion of the sale, the insider now directly owns 13,925,000 shares of the company’s stock, valued at $432,928,250. The trade was a 7.17 % decrease in their ownership of the stock. The sale 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 insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CNX shares. Raymond James upgraded CNX Resources from an “underperform” rating to a “market perform” rating in a research report on Tuesday, February 18th. Truist Financial raised their target price on CNX Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. TD Cowen started coverage on CNX Resources in a research report on Wednesday, January 15th. They set a “hold” rating and a $27.00 target price for the company. Morgan Stanley assumed coverage on CNX Resources in a research report on Friday, January 10th. They set an “underweight” rating and a $29.00 target price for the company. Finally, Roth Capital set a $30.00 price objective on CNX Resources in a research report on Thursday, January 23rd. Nine research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $29.38.

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.