Great Lakes Advisors LLC Purchases Shares of 90,478 CNX Resources Corporation. $CNX

Great Lakes Advisors LLC acquired a new position in CNX Resources Corporation. (NYSE:CNX - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 90,478 shares of the oil and gas producer's stock, valued at approximately $3,070,000. Great Lakes Advisors LLC owned 0.06% of CNX Resources at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CNX. BlackRock Inc. acquired a new position in shares of CNX Resources in the second quarter valued at $650,689,000. Deutsche Bank AG acquired a new stake in CNX Resources during the second quarter worth $7,742,000. Global Retirement Partners LLC acquired a new stake in CNX Resources during the second quarter worth $244,000. Bank of New York Mellon Corp acquired a new stake in CNX Resources during the second quarter worth $41,432,000. Finally, Wedge Capital Management L L P NC increased its holdings in CNX Resources by 1.5% in the 2nd quarter. Wedge Capital Management L L P NC now owns 105,430 shares of the oil and gas producer's stock valued at $3,577,000 after buying an additional 1,548 shares during the period. Institutional investors and hedge funds own 95.16% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports 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. Zacks Research lowered shares of CNX Resources from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 28th. Barclays lowered their target price on shares of CNX Resources from $36.00 to $35.00 and set an "underweight" rating on the stock in a research note on Tuesday, May 26th. Mizuho cut their price target on shares of CNX Resources from $44.00 to $42.00 and set a "neutral" rating for the company in a research note on Wednesday, May 27th. Finally, Truist Financial raised CNX Resources from a "sell" rating to a "hold" rating and set a $35.00 price objective on the stock in a report on Wednesday, July 15th. Nine research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus price target of $35.44.

CNX Resources Trading Up 1.4%

Shares of CNX stock opened at $36.33 on Friday. CNX Resources Corporation. has a 12-month low of $28.20 and a 12-month high of $43.62. The company has a market capitalization of $5.37 billion, a P/E ratio of 6.07 and a beta of 0.60. The firm has a 50-day moving average price of $34.08 and a 200 day moving average price of $36.82. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 0.46.

CNX Resources (NYSE:CNX - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The oil and gas producer reported $1.32 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 net margin of 36.53% and a return on equity of 10.40%. The company's revenue for the quarter was down 35.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.43 earnings per share. Research analysts forecast that CNX Resources Corporation. will post 3.07 earnings per share for the current fiscal year.

About CNX Resources

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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