Deutsche Bank AG Trims Stock Holdings in CNX Resources Corporation. $CNX

Key Points

• Deutsche Bank AG has reduced its stake in CNX Resources Corporation by 4.5%, selling 11,437 shares during the first quarter, and now holds approximately 0.17% of the company's shares valued at $7,599,000.
• Institutional investors own over 95% of CNX Resources stock, with Vanguard Group significantly increasing its holdings by 4.4% to $502,178,000.
• Currently, CNX Resources has a consensus rating of "Hold" from analysts, with an average price target of $31.77, indicating cautious sentiment towards the stock.

Deutsche Bank AG decreased its holdings in CNX Resources Corporation. (NYSE:CNX - Free Report) by 4.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 241,383 shares of the oil and gas producer's stock after selling 11,437 shares during the period. Deutsche Bank AG owned 0.17% of CNX Resources worth $7,599,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CNX. Bessemer Group Inc. boosted its stake in shares of CNX Resources by 131.5% in the fourth quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer's stock worth $34,000 after acquiring an additional 526 shares during the period. Harbor Capital Advisors Inc. bought a new position in shares of CNX Resources in the first quarter worth about $61,000. Sound Income Strategies LLC bought a new position in shares of CNX Resources in the first quarter worth about $63,000. UMB Bank n.a. boosted its stake in shares of CNX Resources by 59.7% in the first quarter. UMB Bank n.a. now owns 2,062 shares of the oil and gas producer's stock worth $65,000 after acquiring an additional 771 shares during the period. Finally, Ameriflex Group Inc. bought a new position in shares of CNX Resources in the fourth quarter worth about $88,000. Institutional investors own 95.16% of the company's stock.

CNX Resources Trading Up 0.5%

Shares of NYSE:CNX traded up $0.1350 during trading on Wednesday, hitting $28.3750. The company had a trading volume of 1,787,551 shares, compared to its average volume of 2,199,039. The stock has a market cap of $4.01 billion, a price-to-earnings ratio of 48.09, a price-to-earnings-growth ratio of 0.24 and a beta of 0.64. CNX Resources Corporation. has a one year low of $26.45 and a one year high of $41.93. The company has a fifty day simple moving average of $31.78 and a two-hundred day simple moving average of $31.01. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.33 and a quick ratio of 0.30.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CNX shares. TD Cowen raised CNX Resources to a "hold" rating in a research note on Monday, July 7th. Scotiabank reissued a "sector perform" rating and set a $35.00 price target (up from $33.00) on shares of CNX Resources in a research note on Friday, July 11th. Barclays began coverage on CNX Resources in a research note on Monday, July 7th. They set an "equal weight" rating and a $33.00 price target for the company. Mizuho increased their price target on CNX Resources from $35.00 to $36.00 and gave the company an "underperform" rating in a research note on Tuesday, May 13th. Finally, Piper Sandler dropped their price target 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. One equities research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and seven have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Reduce" and a consensus price target 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.