Deutsche Bank AG Lowers Stock Position 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 cut its stake in shares of CNX Resources Corporation. (NYSE:CNX - Free Report) by 4.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 241,383 shares of the oil and gas producer's stock after selling 11,437 shares during the quarter. Deutsche Bank AG owned about 0.17% of CNX Resources worth $7,599,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of CNX Resources by 4.4% during 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 acquiring an additional 665,289 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of CNX Resources by 5.8% during the first quarter. PNC Financial Services Group Inc. now owns 10,328 shares of the oil and gas producer's stock valued at $325,000 after acquiring an additional 562 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in shares of CNX Resources during the first quarter valued at $442,000. Arkadios Wealth Advisors boosted its position in shares of CNX Resources by 96.5% during the first quarter. Arkadios Wealth Advisors now owns 24,733 shares of the oil and gas producer's stock valued at $779,000 after buying an additional 12,148 shares during the last quarter. Finally, Bayforest Capital Ltd boosted its position in shares of CNX Resources by 516.9% during the first quarter. Bayforest Capital Ltd now owns 23,899 shares of the oil and gas producer's stock valued at $752,000 after buying an additional 20,025 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors.

CNX Resources Stock Performance

Shares of NYSE:CNX traded up $0.11 during trading on Wednesday, hitting $28.35. The company's stock had a trading volume of 235,006 shares, compared to its average volume of 2,639,775. The company has a 50-day moving average of $31.85 and a 200-day moving average of $31.03. CNX Resources Corporation. has a 12 month low of $26.45 and a 12 month high of $41.93. 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 firm has a market cap of $4.01 billion, a price-to-earnings ratio of 48.06, a P/E/G ratio of 0.24 and a beta of 0.64.

Analyst Ratings Changes

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