Swiss National Bank Reduces Stock Holdings in CNX Resources Co. (NYSE:CNX)

Swiss National Bank reduced its holdings in CNX Resources Co. (NYSE:CNX) by 0.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 297,358 shares of the oil and gas producer’s stock after selling 1,800 shares during the period. Swiss National Bank owned about 0.20% of CNX Resources worth $10,904,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Congress Asset Management Co. boosted its holdings in shares of CNX Resources by 7.2% in the 4th quarter. Congress Asset Management Co. now owns 266,447 shares of the oil and gas producer’s stock valued at $9,771,000 after acquiring an additional 17,951 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in CNX Resources by 12.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,860,817 shares of the oil and gas producer’s stock worth $60,607,000 after buying an additional 202,890 shares in the last quarter. World Investment Advisors LLC purchased a new stake in CNX Resources during the third quarter worth $534,000. Convergence Investment Partners LLC purchased a new stake in CNX Resources during the fourth quarter worth $1,556,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in CNX Resources by 311.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 616,734 shares of the oil and gas producer’s stock worth $20,087,000 after buying an additional 466,694 shares in the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

CNX Resources Price Performance

CNX Resources stock opened at $31.98 on Friday. CNX Resources Co. has a 12-month low of $22.25 and a 12-month high of $41.93. The stock has a market cap of $4.76 billion, a P/E ratio of -47.03, a PEG ratio of 0.42 and a beta of 1.26. The company has a 50-day moving average price of $29.68 and a 200 day moving average price of $33.02. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 0.45.

CNX Resources (NYSE:CNX) last announced its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.14. CNX Resources had a negative net margin of 7.14% and a positive return on equity of 6.72%. Sell-side analysts anticipate that CNX Resources Co. will post 2.18 earnings per share for the current year.

Insiders Place Their Bets

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $31.09, for a total transaction of $33,421,750.00. Following the completion of the transaction, the insider now owns 13,925,000 shares of the company’s stock, valued at $432,928,250. This trade represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CNX has been the topic of a number of recent analyst reports. Roth Capital set a $30.00 price target on shares of CNX Resources in a report on Thursday, January 23rd. Mizuho reduced their price objective on shares of CNX Resources from $38.00 to $34.00 and set an “underperform” rating for the company in a research report on Tuesday, January 14th. Piper Sandler reduced their price objective on shares of CNX Resources from $23.00 to $22.00 and set an “underweight” rating for the company in a research report on Wednesday, January 29th. TD Cowen began coverage on shares of CNX Resources in a research report on Wednesday, January 15th. They set a “hold” rating and a $27.00 price objective for the company. Finally, Morgan Stanley began coverage on shares of CNX Resources in a research report on Friday, January 10th. They set an “underweight” rating and a $29.00 price objective for the company. Nine analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, CNX Resources presently has an average rating of “Hold” and an average price target of $30.38.

CNX Resources 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.