Capital Research Global Investors Has $126.87 Million Stock Holdings in CNX Resources Corporation. $CNX

Capital Research Global Investors raised its position in CNX Resources Corporation. (NYSE:CNX) by 38.6% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 3,950,000 shares of the oil and gas producer’s stock after buying an additional 1,100,000 shares during the period. Capital Research Global Investors owned about 2.93% of CNX Resources worth $126,874,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in CNX Resources by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 86,878 shares of the oil and gas producer’s stock worth $2,735,000 after purchasing an additional 3,785 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of CNX Resources during the 1st quarter worth approximately $583,000. Savant Capital LLC raised its stake in shares of CNX Resources by 25.6% during the second quarter. Savant Capital LLC now owns 13,923 shares of the oil and gas producer’s stock worth $469,000 after buying an additional 2,834 shares during the last quarter. Allworth Financial LP lifted its holdings in CNX Resources by 1,491.5% in the second quarter. Allworth Financial LP now owns 5,618 shares of the oil and gas producer’s stock valued at $189,000 after buying an additional 5,265 shares during the period. Finally, Vise Technologies Inc. bought a new position in CNX Resources in the second quarter valued at approximately $252,000. Institutional investors own 95.16% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on CNX. Barclays increased their price target on CNX Resources from $34.00 to $35.00 and gave the company an “underweight” rating in a research note on Friday, January 30th. Mizuho boosted their target price on CNX Resources from $35.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Roth Mkm set a $35.00 price target on shares of CNX Resources and gave the company a “neutral” rating in a research report on Thursday, January 29th. JPMorgan Chase & Co. upgraded shares of CNX Resources from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $36.00 to $38.00 in a report on Monday, December 8th. Finally, Scotiabank reiterated a “sector perform” rating and issued a $44.00 target price on shares of CNX Resources in a report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $36.00.

CNX Resources Stock Up 2.4%

Shares of CNX stock opened at $40.81 on Thursday. CNX Resources Corporation. has a 12-month low of $27.68 and a 12-month high of $43.62. The company has a quick ratio of 0.41, a current ratio of 0.44 and a debt-to-equity ratio of 0.52. The firm has a fifty day moving average of $38.48 and a 200-day moving average of $35.69. The company has a market capitalization of $5.81 billion, a price-to-earnings ratio of 11.09, a P/E/G ratio of 0.41 and a beta of 0.66.

CNX Resources (NYSE:CNX) last announced its earnings results on Thursday, January 29th. The oil and gas producer reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.94. The firm had revenue of $610.48 million during the quarter, compared to analyst estimates of $422.65 million. CNX Resources had a net margin of 28.28% and a return on equity of 9.29%. The company’s revenue for the quarter was up 347.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.97) EPS. As a group, equities research analysts predict that CNX Resources Corporation. will post 2.18 earnings per share for the current fiscal year.

Insider Activity at CNX Resources

In other news, Director Bernard Lanigan, Jr. sold 46,119 shares of the company’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $40.60, for a total transaction of $1,872,431.40. Following the completion of the transaction, the director directly owned 177,180 shares of the company’s stock, valued at $7,193,508. This represents a 20.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.10% of the stock is currently owned by company insiders.

CNX Resources Company Profile

CNX Resources Corporation is a natural gas and natural gas liquids producer with operations concentrated in the Appalachian Basin. Established as an independent, publicly traded entity in 2018 following its spinoff from Consol Energy, the company focuses on the exploration, development and production of hydrocarbon resources in the Marcellus and Utica shales across Pennsylvania, West Virginia and Ohio.

In addition to its upstream activities, CNX Resources has invested in midstream infrastructure through its subsidiary that gathers, processes and transports natural gas.