CNX Resources Co. (NYSE:CNX) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its stake in shares of CNX Resources Co. (NYSE:CNX) by 2.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,309 shares of the oil and gas producer’s stock after selling 2,553 shares during the quarter. Victory Capital Management Inc.’s holdings in CNX Resources were worth $2,316,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CNX. Mizuho Markets Americas LLC purchased a new stake in shares of CNX Resources during the second quarter valued at $97,200,000. LSV Asset Management grew its stake in CNX Resources by 18.0% during the 1st 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 last quarter. Quantbot Technologies LP increased its holdings in shares of CNX Resources by 533.4% in the first quarter. Quantbot Technologies LP now owns 286,480 shares of the oil and gas producer’s stock valued at $6,795,000 after purchasing an additional 241,250 shares during the period. Levin Capital Strategies L.P. purchased a new position in shares of CNX Resources in the first quarter worth about $4,813,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of CNX Resources by 11.2% during the first quarter. Principal Financial Group Inc. now owns 659,497 shares of the oil and gas producer’s stock worth $15,643,000 after purchasing an additional 66,528 shares during the period. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CNX shares. Mizuho increased their price target on shares of CNX Resources from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Monday. Stephens reiterated an “equal weight” rating and issued a $27.00 price objective on shares of CNX Resources in a research note on Monday, July 15th. Truist Financial boosted their target price on shares of CNX Resources from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Scotiabank increased their price target on CNX Resources from $25.00 to $27.00 and gave the stock a “sector underperform” rating in a research report on Tuesday, August 20th. Finally, Piper Sandler cut CNX Resources from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $22.00 to $20.00 in a report on Thursday, August 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $26.13.

Insider Activity

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

CNX Resources Stock Up 1.7 %

CNX opened at $28.51 on Wednesday. The company has a fifty day moving average of $26.41 and a two-hundred day moving average of $24.77. 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 $28.56. The stock has a market capitalization of $4.37 billion, a price-to-earnings ratio of 5.16 and a beta of 1.37.

CNX Resources (NYSE:CNX) last announced 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 firm had revenue of $321.44 million during the quarter, compared to analyst estimates of $387.46 million. CNX Resources had a return on equity of 7.51% and a net margin of 26.64%. During the same quarter in the previous year, the business earned $0.29 EPS. On average, research analysts expect that CNX Resources Co. will post 1.47 earnings per share for the current year.

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.