LSV Asset Management Sells 40,400 Shares of CNX Resources Corporation. $CNX

LSV Asset Management trimmed its stake in CNX Resources Corporation. (NYSE:CNX) by 6.0% in the third quarter, Holdings Channel reports. The firm owned 632,500 shares of the oil and gas producer’s stock after selling 40,400 shares during the quarter. LSV Asset Management’s holdings in CNX Resources were worth $20,316,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Gallacher Capital Management LLC bought a new stake in shares of CNX Resources during the 3rd quarter worth approximately $314,000. Hantz Financial Services Inc. grew its stake in shares of CNX Resources by 462.7% in the third quarter. Hantz Financial Services Inc. now owns 2,954 shares of the oil and gas producer’s stock valued at $95,000 after buying an additional 2,429 shares in the last quarter. Bridges Investment Management Inc. increased its holdings in CNX Resources by 6.4% during the third quarter. Bridges Investment Management Inc. now owns 54,862 shares of the oil and gas producer’s stock worth $1,762,000 after buying an additional 3,310 shares during the last quarter. State of Wyoming raised its position in CNX Resources by 801.4% during the third quarter. State of Wyoming now owns 7,788 shares of the oil and gas producer’s stock worth $250,000 after acquiring an additional 6,924 shares in the last quarter. Finally, Capital Management Corp VA raised its position in CNX Resources by 9.0% during the third quarter. Capital Management Corp VA now owns 393,671 shares of the oil and gas producer’s stock worth $12,645,000 after acquiring an additional 32,404 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

CNX Resources Stock Performance

Shares of CNX stock opened at $40.58 on Friday. CNX Resources Corporation. has a 52 week low of $27.68 and a 52 week high of $42.13. The company has a market capitalization of $5.78 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 0.42 and a beta of 0.66. The company has a 50-day simple moving average of $37.62 and a 200 day simple moving average of $34.24. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.41 and a current ratio of 0.44.

CNX Resources (NYSE:CNX) last issued its quarterly earnings data on Thursday, January 29th. The oil and gas producer reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.94. CNX Resources had a net margin of 28.28% and a return on equity of 9.29%. The firm had revenue of $610.48 million during the quarter, compared to the consensus estimate of $422.65 million. During the same period last year, the business posted ($0.97) earnings per share. The business’s revenue for the quarter was up 347.0% compared to the same quarter last year. On average, sell-side analysts predict that CNX Resources Corporation. will post 2.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Mizuho lifted their price objective on shares of CNX Resources from $35.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. Piper Sandler set a $26.00 target price on shares of CNX Resources in a research note on Monday, February 2nd. Scotiabank reiterated a “sector perform” rating and set a $44.00 price target on shares of CNX Resources in a report on Wednesday, January 21st. Barclays upped their price objective on CNX Resources from $34.00 to $35.00 and gave the company an “underweight” rating in a research note on Friday, January 30th. Finally, Roth Mkm set a $35.00 price objective on CNX Resources and gave the company a “neutral” rating in a research report on Thursday, January 29th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $36.00.

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.