Principal Financial Group Inc. Has $14.91 Million Stock Position in CNX Resources Co. (NYSE:CNX)

Principal Financial Group Inc. lessened its stake in shares of CNX Resources Co. (NYSE:CNX - Free Report) by 24.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 457,637 shares of the oil and gas producer's stock after selling 150,831 shares during the quarter. Principal Financial Group Inc. owned about 0.31% of CNX Resources worth $14,905,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its position in CNX Resources by 12.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,860,817 shares of the oil and gas producer's stock worth $60,607,000 after purchasing an additional 202,890 shares during the period. World Investment Advisors LLC bought a new stake in shares of CNX Resources during the 3rd quarter worth $534,000. Bridges Investment Management Inc. acquired a new position in CNX Resources in the 2nd quarter valued at $916,000. Paralel Advisors LLC bought a new position in CNX Resources in the 2nd quarter worth $2,338,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in CNX Resources by 311.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 616,734 shares of the oil and gas producer's stock worth $20,087,000 after acquiring an additional 466,694 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company's stock.

CNX Resources Price Performance

Shares of CNX traded down $0.02 during trading hours on Friday, hitting $36.62. The stock had a trading volume of 1,001,961 shares, compared to its average volume of 2,629,423. The stock has a market capitalization of $5.47 billion, a price-to-earnings ratio of 11.52, a P/E/G ratio of 1.85 and a beta of 1.43. CNX Resources Co. has a 52 week low of $19.07 and a 52 week high of $41.93. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.37 and a quick ratio of 0.36. The company's fifty day moving average is $37.55 and its two-hundred day moving average is $31.15.

CNX Resources (NYSE:CNX - Get Free Report) last announced its earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 EPS for the quarter, topping the consensus estimate of $0.32 by $0.09. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. The business had revenue of $424.21 million for the quarter, compared to the consensus estimate of $398.33 million. During the same period in the previous year, the business earned $0.35 EPS. On average, analysts anticipate that CNX Resources Co. will post 1.54 EPS for the current year.

Wall Street Analyst Weigh In

CNX has been the topic of several research analyst reports. Stephens raised their price target on CNX Resources from $26.00 to $35.00 and gave the company an "equal weight" rating in a research report on Friday, October 25th. Piper Sandler lifted their price target on CNX Resources from $20.00 to $23.00 and gave the stock an "underweight" rating in a research report on Friday, December 6th. BMO Capital Markets upped their price target on CNX Resources from $26.00 to $29.00 and gave the stock a "market perform" rating in a report on Friday, October 4th. Tudor, Pickering, Holt & Co. downgraded shares of CNX Resources from a "hold" rating to a "sell" rating in a research note on Tuesday, October 1st. Finally, Bank of America started coverage on shares of CNX Resources in a research note on Monday, October 28th. They set an "underperform" rating and a $34.00 target price for the company. Eight analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat.com, CNX Resources presently has an average rating of "Reduce" and an average target price of $30.50.

About CNX Resources

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.