Canada Pension Plan Investment Board Acquires New Position in CNX Resources Corporation. $CNX

Canada Pension Plan Investment Board bought a new position in shares of CNX Resources Corporation. (NYSE:CNX - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 271,800 shares of the oil and gas producer's stock, valued at approximately $9,222,000. Canada Pension Plan Investment Board owned 0.18% of CNX Resources at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. State of Wyoming acquired a new stake in shares of CNX Resources in the 2nd quarter valued at approximately $29,000. Smartleaf Asset Management LLC boosted its position in shares of CNX Resources by 56.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 810 shares of the oil and gas producer's stock worth $30,000 after purchasing an additional 293 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of CNX Resources during the 4th quarter worth $34,000. Kestra Advisory Services LLC acquired a new position in shares of CNX Resources during the 4th quarter worth $50,000. Finally, Highlander Partners L.P. purchased a new position in shares of CNX Resources in the 4th quarter valued at about $56,000. 95.16% of the stock is owned by hedge funds and other institutional investors.

CNX Resources Stock Up 0.2%

CNX stock opened at $36.19 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.72 and a quick ratio of 0.67. The company's 50 day simple moving average is $34.47 and its 200-day simple moving average is $36.73. CNX Resources Corporation. has a 12 month low of $28.70 and a 12 month high of $43.62. The firm has a market capitalization of $5.35 billion, a PE ratio of 6.04 and a beta of 0.60.

CNX Resources (NYSE:CNX - Get Free Report) last posted its earnings results on Thursday, July 30th. The oil and gas producer reported $1.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.60 by $0.72. The firm had revenue of $618.48 million for the quarter, compared to analyst estimates of $475.16 million. CNX Resources had a return on equity of 10.40% and a net margin of 36.53%.CNX Resources's revenue was down 35.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.43 EPS. Equities analysts expect that CNX Resources Corporation. will post 3.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on CNX. Weiss Ratings cut shares of CNX Resources from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, July 28th. Truist Financial upgraded shares of CNX Resources from a "sell" rating to a "hold" rating and set a $35.00 price target for the company in a research report on Wednesday, July 15th. Tudor Pickering raised CNX Resources from a "strong sell" rating to a "hold" rating in a research note on Friday, May 8th. Morgan Stanley lowered their price target on CNX Resources from $34.00 to $32.00 and set an "underweight" rating on the stock in a report on Monday, June 29th. Finally, Mizuho lowered their price target on CNX Resources from $44.00 to $42.00 and set a "neutral" rating on the stock in a report on Wednesday, May 27th. Nine research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus target price of $35.44.

CNX Resources Company Profile

CNX Resources Corporation is a natural gas and natural gas liquids producer with operations concentrated in the Appalachian Basin. Established as an independent, publicly traded entity in 2018 following its spinoff from Consol Energy, the company focuses on the exploration, development and production of hydrocarbon resources in the Marcellus and Utica shales across Pennsylvania, West Virginia and Ohio.

In addition to its upstream activities, CNX Resources has invested in midstream infrastructure through its subsidiary that gathers, processes and transports natural gas.

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