Principal Financial Group Inc. Has $10.23 Million Stock Holdings in CNX Resources Corporation. $CNX

Principal Financial Group Inc. trimmed its holdings in shares of CNX Resources Corporation. (NYSE:CNX) by 4.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 318,441 shares of the oil and gas producer’s stock after selling 13,417 shares during the period. Principal Financial Group Inc. owned approximately 0.23% of CNX Resources worth $10,228,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of CNX. Southeast Asset Advisors LLC grew its stake in CNX Resources by 0.3% during the 2nd quarter. Southeast Asset Advisors LLC now owns 2,414,955 shares of the oil and gas producer’s stock valued at $81,336,000 after acquiring an additional 6,930 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its position in shares of CNX Resources by 16.7% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,400,000 shares of the oil and gas producer’s stock worth $47,152,000 after purchasing an additional 200,000 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of CNX Resources by 112.2% during the second quarter. AQR Capital Management LLC now owns 1,007,486 shares of the oil and gas producer’s stock worth $33,932,000 after purchasing an additional 532,770 shares during the period. Assetmark Inc. grew its position in CNX Resources by 1.1% during the second quarter. Assetmark Inc. now owns 899,631 shares of the oil and gas producer’s stock valued at $30,300,000 after purchasing an additional 10,224 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in CNX Resources by 1.8% during the second quarter. Ameriprise Financial Inc. now owns 661,464 shares of the oil and gas producer’s stock valued at $22,278,000 after purchasing an additional 11,475 shares in the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

CNX Resources Stock Down 1.9%

Shares of CNX stock opened at $39.21 on Friday. The stock’s 50 day simple moving average is $37.63 and its 200 day simple moving average is $34.14. CNX Resources Corporation. has a twelve month low of $27.68 and a twelve month high of $42.13. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.41 and a current ratio of 0.44. The company has a market capitalization of $5.58 billion, a price-to-earnings ratio of 10.66, a PEG 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.94. CNX Resources had a return on equity of 9.29% and a net margin of 28.28%.The firm had revenue of $610.48 million during the quarter, compared to analysts’ expectations of $422.65 million. During the same quarter in the prior year, the business earned ($0.97) earnings per share. The company’s revenue was up 347.0% on a year-over-year basis. As a group, research analysts predict that CNX Resources Corporation. will post 2.18 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Weiss Ratings upgraded shares of CNX Resources from a “hold (c)” rating to a “buy (b)” rating in a research report on Wednesday. Zacks Research downgraded shares of CNX Resources from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. Mizuho increased their price objective on CNX Resources from $35.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. Barclays lifted their price objective on CNX Resources from $34.00 to $35.00 and gave the company an “underweight” rating in a research report on Friday, January 30th. Finally, Scotiabank reaffirmed a “sector perform” rating and issued a $44.00 target price on shares of CNX Resources in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $36.00.

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.