Resona Asset Management Co. Ltd. purchased a new stake in CNX Resources Co. (NYSE:CNX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 13,332 shares of the oil and gas producer's stock, valued at approximately $489,000.
Other large investors have also made changes to their positions in the company. ExodusPoint Capital Management LP acquired a new position in CNX Resources in the fourth quarter valued at about $8,072,000. Alliancebernstein L.P. lifted its holdings in shares of CNX Resources by 1.6% during the 4th quarter. Alliancebernstein L.P. now owns 304,517 shares of the oil and gas producer's stock valued at $11,167,000 after purchasing an additional 4,859 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of CNX Resources in the 4th quarter valued at approximately $37,923,000. Pictet Asset Management Holding SA increased its stake in CNX Resources by 9.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 20,786 shares of the oil and gas producer's stock worth $762,000 after purchasing an additional 1,873 shares in the last quarter. Finally, SwitchPoint Financial Planning LLC bought a new position in CNX Resources in the fourth quarter valued at approximately $236,000. Institutional investors own 95.16% of the company's stock.
CNX Resources Stock Performance
CNX stock traded up $0.39 during trading hours on Wednesday, reaching $31.23. The stock had a trading volume of 302,280 shares, compared to its average volume of 3,156,342. The stock has a market capitalization of $4.60 billion, a PE ratio of -45.90, a price-to-earnings-growth ratio of 0.42 and a beta of 1.33. The stock has a 50-day simple moving average of $30.27 and a 200 day simple moving average of $33.28. 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 debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32.
CNX Resources (NYSE:CNX - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 EPS 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%. Analysts predict that CNX Resources Co. will post 2.18 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
CNX has been the subject of several research reports. Roth Capital set a $30.00 price objective on shares of CNX Resources in a research report on Thursday, January 23rd. Scotiabank upgraded CNX Resources from a "sector underperform" rating to a "sector perform" rating and set a $33.00 target price for the company in a report on Friday, April 11th. Stephens upgraded CNX Resources from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $35.00 to $48.00 in a report on Tuesday, March 18th. Mizuho increased 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. Finally, JPMorgan Chase & Co. boosted their target price on CNX Resources from $32.00 to $33.00 and gave the company an "underweight" rating in a research note on Thursday, March 13th. Eight investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $31.25.
Read Our Latest Analysis on CNX Resources
About CNX Resources
(
Free Report)
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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