CNX Resources Co. (NYSE:CNX) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of CNX Resources Co. (NYSE:CNX) by 19.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,330 shares of the oil and gas producer’s stock after purchasing an additional 7,401 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CNX Resources were worth $1,699,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in CNX Resources by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,602,837 shares of the oil and gas producer’s stock worth $117,366,000 after acquiring an additional 12,333 shares during the period. Charles Schwab Investment Management Inc. boosted its position in CNX Resources by 7.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,000,464 shares of the oil and gas producer’s stock worth $73,357,000 after acquiring an additional 139,647 shares during the period. Assetmark Inc. boosted its position in CNX Resources by 2.2% during the 4th quarter. Assetmark Inc. now owns 885,429 shares of the oil and gas producer’s stock worth $32,469,000 after acquiring an additional 19,309 shares during the period. Aureus Asset Management LLC boosted its position in CNX Resources by 0.6% during the 3rd quarter. Aureus Asset Management LLC now owns 642,289 shares of the oil and gas producer’s stock worth $20,919,000 after acquiring an additional 3,659 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in CNX Resources by 311.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 616,734 shares of the oil and gas producer’s stock worth $20,087,000 after acquiring an additional 466,694 shares during the period. Institutional investors and hedge funds own 95.16% of the company’s stock.

CNX Resources Stock Up 0.6 %

Shares of CNX Resources stock opened at $30.69 on Tuesday. CNX Resources Co. has a 1 year low of $21.07 and a 1 year high of $41.93. The stock has a 50-day moving average price of $29.61 and a 200 day moving average price of $33.01. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 0.45. The company has a market cap of $4.57 billion, a P/E ratio of -45.13, a P/E/G ratio of 0.42 and a beta of 1.26.

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CNX shares. TD Cowen started coverage on CNX Resources in a research report on Wednesday, January 15th. They set a “hold” rating and a $27.00 price target for the company. Truist Financial boosted their price target on CNX Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. StockNews.com cut CNX Resources from a “hold” rating to a “sell” rating in a research note on Thursday, February 13th. Piper Sandler decreased their target price on CNX Resources from $23.00 to $22.00 and set an “underweight” rating for the company in a research note on Wednesday, January 29th. Finally, Raymond James raised CNX Resources from an “underperform” rating to a “market perform” rating in a research note on Tuesday, February 18th. Nine research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $29.38.

Insider Activity

In other news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $31.09, for a total transaction of $33,421,750.00. Following the transaction, the insider now owns 13,925,000 shares of the company’s stock, valued at approximately $432,928,250. This represents a 7.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 3.10% of the stock is currently owned by insiders.

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.