Principal Financial Group Inc. Trims Position in CNX Resources Co. (NYSE:CNX)

Principal Financial Group Inc. trimmed its position in CNX Resources Co. (NYSE:CNX - Free Report) by 24.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 0.30% of CNX Resources worth $14,905,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CNX. GAMMA Investing LLC raised its holdings in CNX Resources by 54.1% during the second quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer's stock valued at $46,000 after acquiring an additional 666 shares during the period. Blue Trust Inc. raised its stake in CNX Resources by 135.4% during the 3rd quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer's stock valued at $64,000 after purchasing an additional 1,131 shares during the period. CWM LLC lifted its holdings in CNX Resources by 77.0% in the 3rd quarter. CWM LLC now owns 2,149 shares of the oil and gas producer's stock worth $70,000 after purchasing an additional 935 shares in the last quarter. Natixis bought a new position in CNX Resources in the 1st quarter worth approximately $79,000. Finally, Innealta Capital LLC purchased a new stake in CNX Resources during the 2nd quarter valued at approximately $131,000. Institutional investors own 95.16% of the company's stock.

CNX Resources Trading Down 0.7 %

Shares of NYSE:CNX traded down $0.25 during trading on Friday, hitting $38.19. The company had a trading volume of 1,417,916 shares, compared to its average volume of 2,719,235. The stock has a market cap of $5.70 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 1.87 and a beta of 1.37. 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 has a fifty day simple moving average of $33.69 and a two-hundred day simple moving average of $28.27. CNX Resources Co. has a one year low of $19.07 and a one year high of $40.08.

CNX Resources (NYSE:CNX - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.09. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. The company had revenue of $424.21 million during the quarter, compared to the consensus estimate of $398.33 million. During the same period last year, the company earned $0.35 earnings per share. As a group, equities analysts forecast that CNX Resources Co. will post 1.53 earnings per share for the current year.

Insider Buying and Selling

In other CNX Resources news, Director Bernard Lanigan, Jr. purchased 75,000 shares of CNX Resources stock in a transaction dated Monday, September 9th. The shares were purchased at an average cost of $26.81 per share, for a total transaction of $2,010,750.00. Following the completion of the acquisition, the director now owns 401,820 shares in the company, valued at $10,772,794.20. This represents a 22.95 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of CNX Resources from $32.00 to $31.00 and set a "neutral" rating on the stock in a report on Wednesday, October 30th. Capital One Financial cut shares of CNX Resources from an "overweight" rating to an "equal weight" rating and set a $25.00 price target on the stock. in a research note on Monday, October 14th. StockNews.com lowered CNX Resources from a "hold" rating to a "sell" rating in a research report on Saturday, August 3rd. Stephens boosted their target price on CNX Resources from $26.00 to $35.00 and gave the stock an "equal weight" rating in a research report on Friday, October 25th. Finally, Piper Sandler lowered CNX Resources from a "neutral" rating to an "underweight" rating and dropped their price target for the company from $22.00 to $20.00 in a research note on Thursday, August 15th. Six investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $29.00.

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.