Hsbc Holdings PLC Purchases 269,684 Shares of CNX Resources Co. (NYSE:CNX)

Hsbc Holdings PLC lifted its position in shares of CNX Resources Co. (NYSE:CNX - Free Report) by 3,024.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 278,602 shares of the oil and gas producer's stock after acquiring an additional 269,684 shares during the quarter. Hsbc Holdings PLC owned approximately 0.19% of CNX Resources worth $10,313,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Stifel Financial Corp boosted its position in CNX Resources by 5.7% during the fourth quarter. Stifel Financial Corp now owns 21,160 shares of the oil and gas producer's stock worth $776,000 after purchasing an additional 1,136 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of CNX Resources by 254.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 26,105 shares of the oil and gas producer's stock valued at $957,000 after buying an additional 18,733 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in CNX Resources by 5.5% in the 4th quarter. MetLife Investment Management LLC now owns 168,910 shares of the oil and gas producer's stock worth $6,194,000 after buying an additional 8,875 shares during the period. Capital Research Global Investors grew its stake in CNX Resources by 31.8% in the 4th quarter. Capital Research Global Investors now owns 1,450,000 shares of the oil and gas producer's stock valued at $53,172,000 after buying an additional 350,000 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in CNX Resources by 12.0% during the 4th quarter. First Trust Advisors LP now owns 645,591 shares of the oil and gas producer's stock valued at $23,674,000 after acquiring an additional 69,280 shares during the period. Hedge funds and other institutional investors own 95.16% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CNX shares. JPMorgan Chase & Co. lifted their price target on CNX Resources from $32.00 to $33.00 and gave the company an "underweight" rating in a research report on Thursday, March 13th. TD Cowen started coverage on shares of CNX Resources in a research note on Wednesday, January 15th. They issued a "hold" rating and a $27.00 target price on the stock. Stephens upgraded CNX Resources from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $35.00 to $48.00 in a research report on Tuesday, March 18th. Roth Capital set a $30.00 target price on CNX Resources in a research note on Thursday, January 23rd. Finally, Mizuho boosted their price objective on CNX Resources from $34.00 to $35.00 and gave the stock an "underperform" rating in a report on Monday, April 7th. Eight investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $31.17.

CNX Resources Price Performance

Shares of CNX Resources stock opened at $28.95 on Monday. The company has a market capitalization of $4.26 billion, a price-to-earnings ratio of -42.57, a PEG ratio of 0.42 and a beta of 1.33. 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 stock's 50-day simple moving average is $30.27 and its 200-day simple moving average is $33.07. CNX Resources Co. has a 52 week low of $22.82 and a 52 week high of $41.93.

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

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.

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