Zurcher Kantonalbank Zurich Cantonalbank lowered its holdings in shares of CNX Resources Corp (NYSE:CNX) by 16.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,344 shares of the oil and gas producer’s stock after selling 2,070 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CNX Resources were worth $111,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. grew its position in shares of CNX Resources by 1.9% during the fourth quarter. BlackRock Inc. now owns 18,408,505 shares of the oil and gas producer’s stock worth $210,225,000 after purchasing an additional 340,719 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in CNX Resources by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 15,751,720 shares of the oil and gas producer’s stock valued at $179,888,000 after buying an additional 192,424 shares during the last quarter. ANTIPODES PARTNERS Ltd boosted its stake in CNX Resources by 5.2% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 5,547,322 shares of the oil and gas producer’s stock valued at $63,350,000 after buying an additional 275,766 shares during the last quarter. Millennium Management LLC boosted its stake in CNX Resources by 25.6% during the fourth quarter. Millennium Management LLC now owns 4,314,333 shares of the oil and gas producer’s stock valued at $49,270,000 after buying an additional 878,654 shares during the last quarter. Finally, Norges Bank bought a new position in CNX Resources during the fourth quarter valued at approximately $41,498,000. Hedge funds and other institutional investors own 99.81% of the company’s stock.
A number of equities analysts recently commented on the company. Zacks Investment Research lowered CNX Resources from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. TheStreet lowered CNX Resources from a “b-” rating to a “c+” rating in a research note on Wednesday, March 6th. Susquehanna Bancshares set a $11.00 price target on CNX Resources and gave the company a “hold” rating in a research note on Saturday, February 2nd. Tudor Pickering lowered CNX Resources from a “buy” rating to a “hold” rating in a research note on Friday, February 1st. Finally, Robert W. Baird reissued a “buy” rating and set a $15.00 price target on shares of CNX Resources in a research note on Monday, February 4th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $14.20.
CNX Resources stock traded up $0.12 during midday trading on Friday, reaching $7.54. 24,861 shares of the stock traded hands, compared to its average volume of 3,616,017. CNX Resources Corp has a 12 month low of $7.35 and a 12 month high of $18.37. The firm has a market cap of $1.62 billion, a PE ratio of 4.85 and a beta of 0.71. The company has a current ratio of 0.62, a quick ratio of 0.59 and a debt-to-equity ratio of 0.49.
CNX Resources (NYSE:CNX) last posted its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.07). The company had revenue of $278.40 million during the quarter, compared to the consensus estimate of $408.29 million. CNX Resources had a net margin of 12.00% and a return on equity of 5.66%. CNX Resources’s revenue for the quarter was down 43.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.19 earnings per share. As a group, equities research analysts forecast that CNX Resources Corp will post 0.69 earnings per share for the current fiscal year.
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About CNX Resources
CNX Resources Corporation, an independent oil and gas company, explores for, develops, and produces natural gas primarily in the Appalachian Basin. The company operates through two divisions, Exploration and Production (E&P), and Midstream. The E&P division produces pipeline quality natural gas primarily to gas wholesalers.
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