American Century Companies Inc. Trims Stake in CNX Resources Corporation. $CNX

Key Points

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American Century Companies Inc. decreased its stake in shares of CNX Resources Corporation. (NYSE:CNX - Free Report) by 3.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,208,793 shares of the oil and gas producer's stock after selling 129,469 shares during the quarter. American Century Companies Inc. owned about 2.22% of CNX Resources worth $101,013,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CNX. Woodline Partners LP acquired a new stake in CNX Resources during the fourth quarter worth $71,971,000. Nuveen LLC acquired a new stake in shares of CNX Resources in the first quarter valued at $35,567,000. Vanguard Group Inc. grew its stake in shares of CNX Resources by 4.4% in the first quarter. Vanguard Group Inc. now owns 15,952,281 shares of the oil and gas producer's stock valued at $502,178,000 after buying an additional 665,289 shares in the last quarter. Millennium Management LLC grew its stake in shares of CNX Resources by 69.1% in the fourth quarter. Millennium Management LLC now owns 1,154,588 shares of the oil and gas producer's stock valued at $42,339,000 after buying an additional 471,763 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of CNX Resources by 20.5% in the fourth quarter. Northern Trust Corp now owns 2,421,387 shares of the oil and gas producer's stock valued at $88,792,000 after buying an additional 411,485 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company's stock.

CNX Resources Stock Up 0.8%

NYSE CNX traded up $0.2170 during trading on Friday, reaching $28.8670. 1,552,985 shares of the company's stock were exchanged, compared to its average volume of 2,080,070. The stock has a market cap of $4.08 billion, a P/E ratio of 48.93, a price-to-earnings-growth ratio of 0.25 and a beta of 0.64. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.30 and a current ratio of 0.33. The company has a 50 day moving average price of $31.63 and a two-hundred day moving average price of $31.02. CNX Resources Corporation. has a 1 year low of $26.50 and a 1 year high of $41.93.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CNX shares. Piper Sandler dropped their price objective on CNX Resources from $26.00 to $24.00 and set an "underweight" rating for the company in a research note on Thursday, August 14th. Mizuho lifted their price objective on CNX Resources from $35.00 to $36.00 and gave the company an "underperform" rating in a research note on Tuesday, May 13th. Scotiabank reiterated a "sector perform" rating and issued a $35.00 target price (up from $33.00) on shares of CNX Resources in a report on Friday, July 11th. Cowen reiterated a "hold" rating on shares of CNX Resources in a report on Friday, April 25th. Finally, Barclays started coverage on CNX Resources in a report on Monday, July 7th. They issued an "equal weight" rating and a $33.00 target price for the company. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and seven have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Reduce" and an average target price of $31.77.

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.