Capital Research Global Investors Buys 350,000 Shares of CNX Resources Co. (NYSE:CNX)

Capital Research Global Investors lifted its position in shares of CNX Resources Co. (NYSE:CNX - Free Report) by 31.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,450,000 shares of the oil and gas producer's stock after buying an additional 350,000 shares during the quarter. Capital Research Global Investors owned approximately 0.97% of CNX Resources worth $53,172,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Bessemer Group Inc. lifted its stake in CNX Resources by 131.5% in the 4th quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer's stock worth $34,000 after purchasing an additional 526 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in CNX Resources in the 4th quarter worth $39,000. VSM Wealth Advisory LLC purchased a new stake in CNX Resources in the 4th quarter worth $55,000. Principal Securities Inc. lifted its stake in CNX Resources by 38.5% in the 4th quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer's stock worth $91,000 after purchasing an additional 691 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in CNX Resources by 65.1% in the 4th quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer's stock worth $119,000 after purchasing an additional 1,280 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company's stock.

CNX Resources Trading Down 0.4 %

NYSE:CNX traded down $0.11 during mid-day trading on Friday, hitting $28.95. 3,306,583 shares of the stock traded hands, compared to its average volume of 2,675,286. The stock has a market capitalization of $4.26 billion, a price-to-earnings ratio of -42.57, a PEG ratio of 0.42 and a beta of 1.33. CNX Resources Co. has a 52 week low of $22.82 and a 52 week high of $41.93. The firm's 50 day moving average is $30.27 and its two-hundred day moving average is $33.07. The company has a quick ratio of 0.32, a current ratio of 0.33 and a debt-to-equity ratio of 0.45.

CNX Resources (NYSE:CNX - Get Free Report) last issued its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.14. CNX Resources had a negative net margin of 7.14% and a positive return on equity of 6.72%. On average, equities research analysts predict that CNX Resources Co. will post 2.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Bank of America decreased their price target on shares of CNX Resources from $32.00 to $27.00 and set an "underperform" rating on the stock in a research note on Tuesday, April 1st. Raymond James upgraded shares of CNX Resources from an "underperform" rating to a "market perform" rating in a research report on Tuesday, February 18th. TD Cowen started coverage on shares of CNX Resources in a research report on Wednesday, January 15th. They set a "hold" rating and a $27.00 target price on the stock. Scotiabank upgraded shares of CNX Resources from a "sector underperform" rating to a "sector perform" rating and set a $33.00 target price on the stock in a research report on Friday, April 11th. Finally, JPMorgan Chase & Co. upped their target price on shares of CNX Resources from $32.00 to $33.00 and gave the company an "underweight" rating in a research report on Thursday, March 13th. Eight equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $31.17.

CNX Resources Profile

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.