Allianz Asset Management GmbH Has $4.06 Million Stake in CNX Resources Corporation. $CNX

Allianz Asset Management GmbH reduced its position in CNX Resources Corporation. (NYSE:CNX) by 63.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 126,488 shares of the oil and gas producer’s stock after selling 219,425 shares during the quarter. Allianz Asset Management GmbH’s holdings in CNX Resources were worth $4,063,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. State of Wyoming acquired a new position in shares of CNX Resources in the 2nd quarter valued at $29,000. Ameritas Advisory Services LLC bought a new stake in CNX Resources in the second quarter valued at about $32,000. Elevation Point Wealth Partners LLC acquired a new position in CNX Resources in the second quarter worth about $46,000. EverSource Wealth Advisors LLC lifted its stake 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 worth $65,000 after purchasing an additional 1,535 shares during the period. Finally, MTM Investment Management LLC acquired a new stake in CNX Resources during the second quarter valued at approximately $67,000. Institutional investors own 95.16% of the company’s stock.

CNX Resources Stock Performance

Shares of NYSE:CNX opened at $39.38 on Wednesday. The business has a fifty day moving average of $37.66 and a 200-day moving average of $34.07. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.41 and a current ratio of 0.44. CNX Resources Corporation. has a twelve month low of $27.68 and a twelve month high of $42.13. The firm has a market cap of $5.31 billion, a PE ratio of 10.70, a price-to-earnings-growth ratio of 0.40 and a beta of 0.66.

CNX Resources (NYSE:CNX) last issued its quarterly earnings data on Thursday, January 29th. The oil and gas producer reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.94. CNX Resources had a net margin of 28.28% and a return on equity of 9.29%. The firm had revenue of $610.48 million for the quarter, compared to analyst estimates of $422.65 million. During the same quarter in the prior year, the firm earned ($0.97) EPS. The company’s revenue was up 347.0% on a year-over-year basis. On average, equities research analysts predict that CNX Resources Corporation. will post 2.18 EPS for the current fiscal year.

Analyst Ratings Changes

CNX has been the subject of a number of recent research reports. Barclays increased their target price on CNX Resources from $34.00 to $35.00 and gave the stock an “underweight” rating in a report on Friday, January 30th. Piper Sandler set a $26.00 price objective on CNX Resources in a research note on Monday, February 2nd. Zacks Research downgraded shares of CNX Resources from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. Scotiabank reaffirmed a “sector perform” rating and issued a $44.00 target price on shares of CNX Resources in a report on Wednesday, January 21st. Finally, Mizuho lifted their price target on shares of CNX Resources from $35.00 to $43.00 and gave the company a “neutral” rating in a report on Friday, December 12th. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, CNX Resources presently has a consensus rating of “Reduce” and an average price target of $36.00.

CNX Resources Profile

CNX Resources Corporation is a natural gas and natural gas liquids producer with operations concentrated in the Appalachian Basin. Established as an independent, publicly traded entity in 2018 following its spinoff from Consol Energy, the company focuses on the exploration, development and production of hydrocarbon resources in the Marcellus and Utica shales across Pennsylvania, West Virginia and Ohio.

In addition to its upstream activities, CNX Resources has invested in midstream infrastructure through its subsidiary that gathers, processes and transports natural gas.