CNX Resources Co. (NYSE:CNX) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board decreased its holdings in shares of CNX Resources Co. (NYSE:CNX - Free Report) by 57.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,700 shares of the oil and gas producer's stock after selling 127,700 shares during the quarter. Canada Pension Plan Investment Board owned about 0.06% of CNX Resources worth $3,509,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CNX. Congress Asset Management Co. raised its holdings in CNX Resources by 7.2% in the 4th quarter. Congress Asset Management Co. now owns 266,447 shares of the oil and gas producer's stock valued at $9,771,000 after acquiring an additional 17,951 shares during the last quarter. World Investment Advisors LLC acquired a new stake in shares of CNX Resources in the third quarter valued at approximately $534,000. Convergence Investment Partners LLC purchased a new position in CNX Resources during the fourth quarter worth approximately $1,556,000. Charles Schwab Investment Management Inc. boosted its stake in CNX Resources by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,000,464 shares of the oil and gas producer's stock worth $73,357,000 after buying an additional 139,647 shares during the last quarter. Finally, Wakefield Asset Management LLLP purchased a new stake in CNX Resources in the 4th quarter valued at $1,047,000. 95.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Raymond James raised shares of CNX Resources from an "underperform" rating to a "market perform" rating in a research report on Tuesday, February 18th. Morgan Stanley reissued an "underweight" rating and issued a $31.00 price target on shares of CNX Resources in a research note on Tuesday, April 15th. StockNews.com lowered shares of CNX Resources from a "hold" rating to a "sell" rating in a research report on Thursday, February 13th. Piper Sandler lowered their price objective on CNX Resources from $22.00 to $21.00 and set an "underweight" rating for the company in a research report on Tuesday. Finally, Roth Capital set a $30.00 target price on CNX Resources in a research report on Thursday, January 23rd. Eight investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $31.17.

CNX Resources Stock Performance

Shares of CNX Resources stock opened at $30.31 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32. The stock has a market capitalization of $4.46 billion, a price-to-earnings ratio of -44.57, a price-to-earnings-growth ratio of 0.42 and a beta of 1.33. The business has a 50-day moving average of $30.32 and a 200 day moving average of $33.18. CNX Resources Co. has a 12 month low of $22.82 and a 12 month high of $41.93.

CNX Resources (NYSE:CNX - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share for the quarter, beating analysts' consensus estimates 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, sell-side analysts forecast that CNX Resources Co. will post 2.18 earnings per share for the current year.

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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