Federated Hermes Inc. Sells 76,828 Shares of CNX Resources Co. (NYSE:CNX)

Federated Hermes Inc. cut its stake in CNX Resources Co. (NYSE:CNX - Free Report) by 52.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,909 shares of the oil and gas producer's stock after selling 76,828 shares during the period. Federated Hermes Inc.'s holdings in CNX Resources were worth $2,564,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CNX. Congress Asset Management Co. lifted its stake in shares of CNX Resources by 7.2% in the 4th quarter. Congress Asset Management Co. now owns 266,447 shares of the oil and gas producer's stock valued at $9,771,000 after purchasing an additional 17,951 shares during the period. World Investment Advisors LLC acquired a new position in CNX Resources in the third quarter valued at approximately $534,000. Convergence Investment Partners LLC bought a new position in shares of CNX Resources during the 4th quarter worth approximately $1,556,000. Charles Schwab Investment Management Inc. grew its position in shares of 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 buying an additional 139,647 shares during the period. Finally, Wakefield Asset Management LLLP bought a new stake in shares of CNX Resources in the 4th quarter valued at $1,047,000. Institutional investors and hedge funds own 95.16% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CNX. Piper Sandler cut their target price on shares of CNX Resources from $23.00 to $22.00 and set an "underweight" rating on the stock in a research note on Wednesday, January 29th. Morgan Stanley reissued an "underweight" rating and set a $31.00 price objective on shares of CNX Resources in a research report on Tuesday. Scotiabank raised CNX Resources from a "sector underperform" rating to a "sector perform" rating and set a $33.00 target price for the company in a research report on Friday, April 11th. StockNews.com lowered CNX Resources from a "hold" rating to a "sell" rating in a report on Thursday, February 13th. Finally, Raymond James upgraded CNX Resources from an "underperform" rating to a "market perform" rating in a report on Tuesday, February 18th. Eight equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $31.25.

CNX Resources Stock Down 0.2 %

NYSE:CNX traded down $0.05 during trading hours on Friday, hitting $30.83. 2,288,047 shares of the company traded hands, compared to its average volume of 2,670,405. CNX Resources Co. has a one year low of $22.82 and a one year high of $41.93. The company has a quick ratio of 0.32, a current ratio of 0.33 and a debt-to-equity ratio of 0.45. The company has a market cap of $4.54 billion, a PE ratio of -45.34, a PEG ratio of 0.42 and a beta of 1.33. The firm's 50-day simple moving average is $30.30 and its 200-day simple moving average is $33.25.

CNX Resources (NYSE:CNX - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share for the quarter, beating 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%. Equities analysts predict that CNX Resources Co. will post 2.18 earnings per share for the current year.

CNX Resources Company 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.