Geode Capital Management LLC Decreases Position in CNX Resources Co. (NYSE:CNX)

Geode Capital Management LLC reduced its position in shares of CNX Resources Co. (NYSE:CNX - Free Report) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,547,841 shares of the oil and gas producer's stock after selling 54,996 shares during the quarter. Geode Capital Management LLC owned 2.38% of CNX Resources worth $130,129,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CNX. Congress Asset Management Co. grew its holdings in CNX Resources by 7.2% in the fourth quarter. Congress Asset Management Co. now owns 266,447 shares of the oil and gas producer's stock valued at $9,771,000 after purchasing an additional 17,951 shares during the period. World Investment Advisors LLC acquired a new position in shares of CNX Resources during the 3rd quarter worth approximately $534,000. Convergence Investment Partners LLC purchased a new stake in CNX Resources in the 4th quarter valued at $1,556,000. Charles Schwab Investment Management Inc. increased its position 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 purchasing an additional 139,647 shares during the last quarter. Finally, Wakefield Asset Management LLLP purchased a new stake in shares of CNX Resources in the 4th quarter valued at approximately $1,047,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

CNX Resources Stock Up 0.1 %

CNX Resources stock traded up $0.04 during midday trading on Monday, reaching $30.69. The company's stock had a trading volume of 144,390 shares, compared to its average volume of 2,667,592. The company has a market cap of $4.52 billion, a P/E ratio of -45.13, a P/E/G ratio of 0.42 and a beta of 1.33. CNX Resources Co. has a fifty-two week low of $22.82 and a fifty-two week high of $41.93. 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 business has a 50-day simple moving average of $30.20 and a 200-day simple moving average of $33.30.

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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 for the quarter, topping analysts' consensus estimates of $0.43 by $0.14. CNX Resources had a positive return on equity of 6.72% and a negative net margin of 7.14%. On average, research analysts expect that CNX Resources Co. will post 2.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CNX has been the subject of several analyst reports. StockNews.com lowered CNX Resources from a "hold" rating to a "sell" rating in a research report on Thursday, February 13th. Roth Capital set a $30.00 price target on shares of CNX Resources in a research report on Thursday, January 23rd. Stephens upgraded shares of CNX Resources from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $35.00 to $48.00 in a report on Tuesday, March 18th. Piper Sandler dropped their target price 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. Finally, TD Cowen initiated coverage on CNX Resources in a research report on Wednesday, January 15th. They set a "hold" rating and a $27.00 price target for the company. Eight equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $31.42.

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.