US Bancorp DE Sells 5,394 Shares of CNX Resources Co. (NYSE:CNX)

US Bancorp DE reduced its holdings in CNX Resources Co. (NYSE:CNXGet Rating) by 16.5% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,388 shares of the oil and gas producer’s stock after selling 5,394 shares during the quarter. US Bancorp DE’s holdings in CNX Resources were worth $425,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Van ECK Associates Corp increased its stake in CNX Resources by 2.6% in the 3rd quarter. Van ECK Associates Corp now owns 40,689 shares of the oil and gas producer’s stock worth $632,000 after acquiring an additional 1,049 shares during the last quarter. Financial Enhancement Group LLC purchased a new position in shares of CNX Resources in the 3rd quarter worth about $2,604,000. Wipfli Financial Advisors LLC purchased a new position in shares of CNX Resources in the 3rd quarter worth about $98,000. Janney Montgomery Scott LLC boosted its holdings in shares of CNX Resources by 7.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 129,702 shares of the oil and gas producer’s stock worth $2,015,000 after purchasing an additional 8,950 shares in the last quarter. Finally, Louisiana State Employees Retirement System purchased a new position in shares of CNX Resources in the 3rd quarter worth about $783,000. 93.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Mizuho assumed coverage on CNX Resources in a report on Monday, January 9th. They issued an “underperform” rating and a $19.00 price objective for the company. StockNews.com assumed coverage on CNX Resources in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Piper Sandler dropped their target price on CNX Resources to $19.00 in a report on Friday, November 4th. Finally, Truist Financial dropped their target price on CNX Resources from $20.00 to $18.00 and set a “hold” rating for the company in a report on Friday, October 28th. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $21.86.

CNX Resources Trading Up 0.1 %

NYSE CNX opened at $16.56 on Tuesday. CNX Resources Co. has a fifty-two week low of $14.11 and a fifty-two week high of $24.21. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.31 and a current ratio of 0.32. The stock has a 50 day simple moving average of $16.83 and a two-hundred day simple moving average of $17.05. The stock has a market cap of $2.99 billion, a P/E ratio of -4.30, a price-to-earnings-growth ratio of 0.30 and a beta of 1.25.

CNX Resources (NYSE:CNXGet Rating) last released its quarterly earnings data on Thursday, October 27th. The oil and gas producer reported ($0.54) earnings per share for the quarter, missing the consensus estimate of $0.72 by ($1.26). CNX Resources had a positive return on equity of 9.68% and a negative net margin of 29.81%. The business had revenue of $476.00 million during the quarter, compared to analysts’ expectations of $549.08 million. On average, analysts forecast that CNX Resources Co. will post 1.51 earnings per share for the current year.

CNX Resources Profile

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CNX Resources Corporation, an independent natural gas and midstream company, acquires, explores for, develops, and produces natural gas properties in the Appalachian Basin. The company operates in two segments, Shale and Coalbed Methane. It produces and sells pipeline quality natural gas primarily for gas wholesalers.

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Institutional Ownership by Quarter for CNX Resources (NYSE:CNX)

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