Allspring Global Investments Holdings LLC Buys 8,987 Shares of CNX Resources Co. (NYSE:CNX)

Allspring Global Investments Holdings LLC increased its position in shares of CNX Resources Co. (NYSE:CNXFree Report) by 1,924.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,454 shares of the oil and gas producer’s stock after acquiring an additional 8,987 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in CNX Resources were worth $213,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Spire Wealth Management boosted its position in shares of CNX Resources by 79.6% during the second quarter. Spire Wealth Management now owns 1,390 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 616 shares in the last quarter. BluePath Capital Management LLC bought a new position in CNX Resources during the third quarter worth about $32,000. Castleview Partners LLC acquired a new position in CNX Resources in the third quarter valued at about $41,000. Strs Ohio grew its stake in CNX Resources by 30.0% in the second quarter. Strs Ohio now owns 5,200 shares of the oil and gas producer’s stock valued at $92,000 after acquiring an additional 1,200 shares during the period. Finally, State of Wyoming bought a new stake in shares of CNX Resources in the second quarter worth about $95,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on CNX. StockNews.com lowered CNX Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Bank of America raised shares of CNX Resources from an “underperform” rating to a “neutral” rating and set a $23.00 price objective for the company in a research report on Friday, January 5th. Stephens restated an “equal weight” rating and set a $24.00 price objective on shares of CNX Resources in a report on Thursday, October 12th. Truist Financial raised shares of CNX Resources from a “hold” rating to a “buy” rating and upped their target price for the stock from $20.00 to $27.00 in a research note on Monday, December 4th. Finally, Piper Sandler dropped their price target on CNX Resources from $18.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 24th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $23.00.

Get Our Latest Analysis on CNX Resources

CNX Resources Stock Performance

Shares of CNX opened at $20.87 on Wednesday. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of 2.30, a PEG ratio of 2.33 and a beta of 1.29. CNX Resources Co. has a 12 month low of $14.36 and a 12 month high of $23.68. The firm has a fifty day simple moving average of $20.29 and a 200 day simple moving average of $21.10. The company has a current ratio of 0.53, a quick ratio of 0.51 and a debt-to-equity ratio of 0.43.

CNX Resources (NYSE:CNXGet Free Report) last announced its quarterly earnings data on Thursday, January 25th. The oil and gas producer reported $2.89 earnings per share for the quarter, beating the consensus estimate of $0.30 by $2.59. The company had revenue of $999.50 million during the quarter, compared to analysts’ expectations of $401.62 million. CNX Resources had a return on equity of 8.99% and a net margin of 50.34%. CNX Resources’s revenue for the quarter was down 38.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.64 EPS. Research analysts forecast that CNX Resources Co. will post 1.59 EPS for the current fiscal year.

CNX Resources Company Profile

(Free Report)

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 (CBM). It produces and sells pipeline quality natural gas primarily for gas wholesalers.

Further Reading

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

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