Federated Hermes Inc. Reduces Stock Position in CNX Resources Co. (NYSE:CNX)

Federated Hermes Inc. reduced its stake in shares of CNX Resources Co. (NYSE:CNX - Free Report) by 52.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 69,909 shares of the oil and gas producer's stock after selling 76,828 shares during the quarter. Federated Hermes Inc.'s holdings in CNX Resources were worth $2,564,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CNX. Xponance Inc. lifted its stake in shares of CNX Resources by 2.9% during the 4th quarter. Xponance Inc. now owns 20,876 shares of the oil and gas producer's stock worth $766,000 after acquiring an additional 588 shares during the last quarter. Principal Securities Inc. boosted its stake in shares of CNX Resources by 38.5% during 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 period. SeaBridge Investment Advisors LLC grew its holdings in shares of CNX Resources by 0.8% in the fourth quarter. SeaBridge Investment Advisors LLC now owns 90,301 shares of the oil and gas producer's stock worth $3,311,000 after purchasing an additional 759 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in CNX Resources in the 4th quarter worth about $39,000. Finally, Blue Trust Inc. lifted its holdings in CNX Resources by 65.1% during the 4th quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer's stock valued at $119,000 after buying an additional 1,280 shares in the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CNX. Scotiabank raised shares of CNX Resources from a "sector underperform" rating to a "sector perform" rating and set a $33.00 target price on the stock in a research report on Friday, April 11th. StockNews.com downgraded CNX Resources from a "hold" rating to a "sell" rating in a research report on Thursday, February 13th. Piper Sandler reduced their price target on shares of CNX Resources from $23.00 to $22.00 and set an "underweight" rating for the company in a report on Wednesday, January 29th. Mizuho increased their price objective on shares of CNX Resources from $34.00 to $35.00 and gave the company an "underperform" rating in a research note on Monday, April 7th. Finally, Roth Capital set a $30.00 price objective on shares of CNX Resources in a research note on Thursday, January 23rd. Eight 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. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $31.25.

CNX Resources Stock Up 0.0 %

CNX stock traded up $0.01 on Wednesday, hitting $30.85. 2,113,207 shares of the company's stock were exchanged, compared to its average volume of 2,667,768. The firm has a 50 day moving average price of $30.27 and a two-hundred day moving average price of $33.28. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.32 and a current ratio of 0.33. CNX Resources Co. has a 12-month low of $22.82 and a 12-month high of $41.93. The stock has a market cap of $4.54 billion, a P/E ratio of -45.37, a price-to-earnings-growth ratio of 0.42 and a beta of 1.33.

CNX Resources (NYSE:CNX - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share (EPS) for the quarter, beating 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 research analysts expect that CNX Resources Co. will post 2.18 EPS for the current fiscal 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.