American Century Companies Inc. Reduces Stock Position in CNX Resources Corporation. $CNX

Key Points

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American Century Companies Inc. lessened its stake in CNX Resources Corporation. (NYSE:CNX - Free Report) by 3.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC acquired a new stake in shares of CNX Resources in the 1st quarter worth $718,000. Principal Financial Group Inc. grew its holdings in shares of CNX Resources by 1.6% in the first quarter. Principal Financial Group Inc. now owns 472,300 shares of the oil and gas producer's stock valued at $14,868,000 after purchasing an additional 7,440 shares during the period. Bridges Investment Management Inc. increased its position in CNX Resources by 111.3% during the first quarter. Bridges Investment Management Inc. now owns 44,673 shares of the oil and gas producer's stock worth $1,406,000 after purchasing an additional 23,531 shares during the last quarter. Farther Finance Advisors LLC raised its stake in CNX Resources by 21.0% during the first quarter. Farther Finance Advisors LLC now owns 2,931 shares of the oil and gas producer's stock worth $93,000 after purchasing an additional 508 shares during the period. Finally, KBC Group NV raised its stake in CNX Resources by 25.0% during the first quarter. KBC Group NV now owns 7,768 shares of the oil and gas producer's stock worth $245,000 after purchasing an additional 1,552 shares during the period. Hedge funds and other institutional investors own 95.16% of the company's stock.

CNX Resources Stock Performance

Shares of CNX Resources stock opened at $28.81 on Monday. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of 48.83, 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 current ratio of 0.33 and a quick ratio of 0.30. The business has a 50-day moving average of $32.01 and a 200 day moving average of $31.04. CNX Resources Corporation. has a 12 month low of $26.43 and a 12 month high of $41.93.

Analyst Ratings Changes

CNX has been the subject of several analyst reports. TD Cowen raised shares of CNX Resources to a "hold" rating in a research note on Monday, July 7th. Barclays assumed coverage on CNX Resources in a research report on Monday, July 7th. They issued an "equal weight" rating and a $33.00 price objective for the company. Mizuho lifted their target price on CNX Resources from $35.00 to $36.00 and gave the company an "underperform" rating in a research report on Tuesday, May 13th. Scotiabank reaffirmed a "sector perform" rating and issued a $35.00 price target (up previously from $33.00) on shares of CNX Resources in a research note on Friday, July 11th. Finally, Cowen reissued a "hold" rating on shares of CNX Resources in a research report on Friday, April 25th. Eight investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $31.77.

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.

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