Capital Research Global Investors Purchases 350,000 Shares of CNX Resources Co. (NYSE:CNX)

Capital Research Global Investors increased its holdings in shares of CNX Resources Co. (NYSE:CNX - Free Report) by 31.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,450,000 shares of the oil and gas producer's stock after purchasing an additional 350,000 shares during the period. Capital Research Global Investors owned 0.97% of CNX Resources worth $53,172,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in CNX. Bessemer Group Inc. increased its holdings in CNX Resources by 131.5% in the 4th quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer's stock valued at $34,000 after buying an additional 526 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in shares of CNX Resources during the 4th quarter valued at $39,000. VSM Wealth Advisory LLC bought a new stake in CNX Resources during the 4th quarter worth $55,000. Principal Securities Inc. raised its position in CNX Resources by 38.5% in the fourth quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer's stock valued at $91,000 after purchasing an additional 691 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of CNX Resources by 65.1% during the fourth quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer's stock valued at $119,000 after purchasing an additional 1,280 shares in the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

CNX Resources Trading Down 2.5 %

NYSE CNX opened at $30.04 on Tuesday. CNX Resources Co. has a 52 week low of $22.82 and a 52 week high of $41.93. The business has a 50 day moving average price of $30.32 and a 200-day moving average price of $33.20. The company has a quick ratio of 0.32, a current ratio of 0.33 and a debt-to-equity ratio of 0.45. The company has a market cap of $4.42 billion, a price-to-earnings ratio of -44.18, a P/E/G ratio of 0.42 and a beta of 1.33.

CNX Resources (NYSE:CNX - Get Free Report) last released its quarterly earnings data 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%. As a group, equities analysts expect that CNX Resources Co. will post 2.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on CNX shares. Bank of America cut their target price on shares of CNX Resources from $32.00 to $27.00 and set an "underperform" rating on the stock in a research report on Tuesday, April 1st. TD Cowen began coverage on CNX Resources in a report on Wednesday, January 15th. They issued a "hold" rating and a $27.00 price objective for the company. Scotiabank raised CNX Resources from a "sector underperform" rating to a "sector perform" rating and set a $33.00 target price on the stock in a report on Friday, April 11th. StockNews.com cut CNX Resources from a "hold" rating to a "sell" rating in a research note on Thursday, February 13th. Finally, Roth Capital set a $30.00 price objective on CNX Resources in a research note on Thursday, January 23rd. Eight research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, CNX Resources currently has an average rating of "Hold" and a consensus target price of $31.25.

CNX Resources Company 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.

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