Federated Hermes Inc. Has $14.91 Million Stake in CNX Resources Corporation. $CNX

Federated Hermes Inc. raised its holdings in CNX Resources Corporation. (NYSE:CNX) by 12.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 442,778 shares of the oil and gas producer’s stock after buying an additional 49,316 shares during the period. Federated Hermes Inc.’s holdings in CNX Resources were worth $14,913,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CNX. Ameritas Advisory Services LLC bought a new position in shares of CNX Resources in the 2nd quarter valued at about $32,000. Elevation Point Wealth Partners LLC bought a new stake in CNX Resources during the second quarter worth about $46,000. EverSource Wealth Advisors LLC boosted its position in CNX Resources by 393.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,925 shares of the oil and gas producer’s stock valued at $65,000 after purchasing an additional 1,535 shares during the last quarter. MTM Investment Management LLC bought a new position in CNX Resources in the second quarter valued at approximately $67,000. Finally, CWM LLC increased its position in shares of CNX Resources by 26.0% during the 2nd quarter. CWM LLC now owns 3,405 shares of the oil and gas producer’s stock worth $115,000 after purchasing an additional 703 shares during the last quarter. 95.16% of the stock is owned by institutional investors.

CNX Resources Price Performance

NYSE:CNX opened at $41.03 on Thursday. The company has a market cap of $5.53 billion, a P/E ratio of 28.69, a P/E/G ratio of 0.37 and a beta of 0.64. The firm’s fifty day moving average price is $35.37 and its two-hundred day moving average price is $32.69. CNX Resources Corporation. has a one year low of $27.00 and a one year high of $42.13. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.34 and a quick ratio of 0.31.

CNX Resources (NYSE:CNX) last announced its earnings results on Thursday, October 30th. The oil and gas producer reported $0.46 EPS for the quarter, topping the consensus estimate of $0.37 by $0.09. CNX Resources had a net margin of 16.56% and a return on equity of 9.10%. The business had revenue of $423.00 million during the quarter, compared to the consensus estimate of $408.80 million. The business’s revenue was up 37.6% compared to the same quarter last year. Equities analysts expect that CNX Resources Corporation. will post 2.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CNX. Scotiabank increased their price objective on CNX Resources from $36.00 to $40.00 and gave the company a “sector perform” rating in a report on Friday, November 21st. Mizuho upped their price target on shares of CNX Resources from $34.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of CNX Resources in a research note on Monday. Barclays lifted their price objective on shares of CNX Resources from $32.00 to $34.00 and gave the company an “equal weight” rating in a research report on Friday, October 31st. Finally, JPMorgan Chase & Co. raised shares of CNX Resources from an “underweight” rating to a “neutral” rating and upped their target price for the company from $36.00 to $38.00 in a report on Monday. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $33.27.

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.