Principal Financial Group Inc. Sells 13,417 Shares of CNX Resources Corporation. $CNX

Principal Financial Group Inc. lessened its holdings in shares of CNX Resources Corporation. (NYSE:CNX) by 4.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 318,441 shares of the oil and gas producer’s stock after selling 13,417 shares during the quarter. Principal Financial Group Inc.’s holdings in CNX Resources were worth $10,228,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Significant Wealth Partners LLC increased its position in CNX Resources by 11.2% in the 3rd quarter. Significant Wealth Partners LLC now owns 11,926 shares of the oil and gas producer’s stock worth $383,000 after buying an additional 1,204 shares during the period. AlphaQuest LLC increased its position in CNX Resources by 5,703.1% during the third quarter. AlphaQuest LLC now owns 63,022 shares of the oil and gas producer’s stock worth $2,024,000 after acquiring an additional 61,936 shares during the period. Federated Hermes Inc. raised its stake in CNX Resources by 0.6% during the 3rd quarter. Federated Hermes Inc. now owns 445,394 shares of the oil and gas producer’s stock valued at $14,306,000 after purchasing an additional 2,616 shares during the last quarter. Resona Asset Management Co. Ltd. boosted its holdings in CNX Resources by 5.0% in the 3rd quarter. Resona Asset Management Co. Ltd. now owns 14,002 shares of the oil and gas producer’s stock valued at $450,000 after purchasing an additional 670 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in CNX Resources by 9.7% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 49,209 shares of the oil and gas producer’s stock valued at $1,581,000 after purchasing an additional 4,331 shares during the period. Institutional investors and hedge funds own 95.16% of the company’s stock.

Analysts Set New Price Targets

CNX has been the topic of several research reports. Zacks Research downgraded shares of CNX Resources from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. Mizuho lifted 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. Scotiabank restated a “sector perform” rating and set a $44.00 price target on shares of CNX Resources in a research note on Wednesday, January 21st. Roth Mkm set a $35.00 price target on CNX Resources and gave the company a “neutral” rating in a report on Thursday, January 29th. Finally, Weiss Ratings raised CNX Resources from a “hold (c)” rating to a “buy (b)” rating in a report on Wednesday. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $36.00.

CNX Resources Stock Performance

NYSE CNX opened at $39.21 on Friday. CNX Resources Corporation. has a twelve month low of $27.68 and a twelve month high of $42.13. 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 stock has a market cap of $5.58 billion, a P/E ratio of 10.66, a PEG ratio of 0.41 and a beta of 0.66. The company’s 50-day simple moving average is $37.63 and its 200 day simple moving average is $34.14.

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

CNX Resources 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.