Deutsche Bank AG Makes New Investment in CNX Resources Corporation. $CNX

Key Points

• Deutsche Bank acquired 228,172 shares of CNX Resources in the second quarter, valued at approximately $7.74 million and representing about 0.15% of the company. Institutional investors collectively own 95.16% of CNX’s stock.
• Analyst sentiment remains cautious, with nine analysts rating CNX a Hold and three a Sell. The consensus rating is “Reduce”, with an average price target of $35.44.
• CNX reported quarterly EPS of $1.32, beating estimates of $0.60, while revenue reached $618.48 million. Despite the earnings beat, revenue declined 35.7% year over year.

Deutsche Bank AG purchased a new stake in CNX Resources Corporation. (NYSE:CNX - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 228,172 shares of the oil and gas producer's stock, valued at approximately $7,742,000. Deutsche Bank AG owned approximately 0.15% of CNX Resources as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in CNX. Northwestern Mutual Wealth Management Co. lifted its position in CNX Resources by 3,227.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 90,603 shares of the oil and gas producer's stock valued at $3,331,000 after acquiring an additional 87,880 shares in the last quarter. Principal Financial Group Inc. boosted its stake in CNX Resources by 98.4% in the 1st quarter. Principal Financial Group Inc. now owns 579,120 shares of the oil and gas producer's stock worth $22,325,000 after purchasing an additional 287,240 shares during the period. First Trust Advisors LP increased its holdings in CNX Resources by 81.9% during the 1st quarter. First Trust Advisors LP now owns 965,371 shares of the oil and gas producer's stock worth $37,215,000 after purchasing an additional 434,620 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in CNX Resources by 6,057.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,838,852 shares of the oil and gas producer's stock worth $147,988,000 after purchasing an additional 3,776,511 shares in the last quarter. Finally, Dorsey Wright & Associates acquired a new stake in shares of CNX Resources in the 4th quarter valued at about $5,498,000. Institutional investors and hedge funds own 95.16% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on CNX shares. Weiss Ratings lowered CNX Resources from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, July 28th. Tudor Pickering upgraded CNX Resources from a "strong sell" rating to a "hold" rating in a report on Friday, May 8th. Mizuho dropped their target price on CNX Resources from $44.00 to $42.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 27th. Truist Financial raised CNX Resources from a "sell" rating to a "hold" rating and set a $35.00 target price on the stock in a research report on Wednesday, July 15th. Finally, Barclays cut their target price on CNX Resources from $36.00 to $35.00 and set an "underweight" rating on the stock in a research note on Tuesday, May 26th. Nine equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus target price of $35.44.

CNX Resources Stock Performance

Shares of NYSE:CNX opened at $36.36 on Monday. The company's 50-day moving average price is $34.15 and its two-hundred day moving average price is $36.81. CNX Resources Corporation. has a one year low of $28.45 and a one year high of $43.62. 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 stock has a market capitalization of $5.38 billion, a PE ratio of 6.07 and a beta of 0.60.

CNX Resources (NYSE:CNX - Get Free Report) last released 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. CNX Resources had a return on equity of 10.40% and a net margin of 36.53%.The business had revenue of $618.48 million for the quarter, compared to the consensus estimate of $475.16 million. During the same quarter in the previous year, the business earned $2.43 earnings per share. CNX Resources's quarterly revenue was down 35.7% on a year-over-year basis. On average, equities analysts forecast that CNX Resources Corporation. will post 3.08 EPS for the current fiscal year.

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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