Russell Investments Group Ltd. Lowers Holdings in CNX Resources Co. (NYSE:CNX)

Russell Investments Group Ltd. lowered its stake in CNX Resources Co. (NYSE:CNX - Free Report) by 11.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 68,851 shares of the oil and gas producer's stock after selling 8,700 shares during the period. Russell Investments Group Ltd.'s holdings in CNX Resources were worth $2,526,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership acquired a new stake in shares of CNX Resources during the fourth quarter worth $37,923,000. Raymond James Financial Inc. purchased a new stake in CNX Resources during the fourth quarter valued at about $14,268,000. Empirical Asset Management LLC acquired a new position in shares of CNX Resources in the fourth quarter worth about $9,281,000. ExodusPoint Capital Management LP purchased a new position in shares of CNX Resources in the fourth quarter worth approximately $8,072,000. Finally, Empowered Funds LLC raised its holdings in shares of CNX Resources by 328.0% during the fourth quarter. Empowered Funds LLC now owns 211,719 shares of the oil and gas producer's stock valued at $7,764,000 after acquiring an additional 162,247 shares during the period. Institutional investors and hedge funds own 95.16% of the company's stock.

CNX Resources Price Performance

NYSE:CNX traded up $0.15 during mid-day trading on Wednesday, hitting $30.44. 364,429 shares of the stock traded hands, compared to its average volume of 3,106,566. The company has a market cap of $4.48 billion, a PE ratio of -44.76, a price-to-earnings-growth ratio of 0.42 and a beta of 1.33. CNX Resources Co. has a 12-month low of $22.82 and a 12-month high of $41.93. The business's 50-day moving average price is $30.32 and its 200 day moving average price is $33.18. 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 earnings per share (EPS) for the quarter, topping the consensus estimate 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, analysts expect that CNX Resources Co. will post 2.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CNX has been the subject of several research analyst reports. Morgan Stanley reissued an "underweight" rating and issued a $31.00 price objective on shares of CNX Resources in a research note on Tuesday, April 15th. Scotiabank upgraded CNX Resources from a "sector underperform" rating to a "sector perform" rating and set a $33.00 price objective for the company in a report on Friday, April 11th. Piper Sandler reduced their target price on shares of CNX Resources from $22.00 to $21.00 and set an "underweight" rating for the company in a research note on Tuesday. Mizuho upped their target price on CNX Resources from $34.00 to $35.00 and gave the stock an "underperform" rating in a research report on Monday, April 7th. Finally, StockNews.com lowered CNX Resources from a "hold" rating to a "sell" rating in a report on Thursday, February 13th. Eight research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $31.17.

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.