First Trust Advisors LP Increases Stake in CNX Resources Co. (NYSE:CNX)

First Trust Advisors LP grew its holdings in CNX Resources Co. (NYSE:CNX - Free Report) by 12.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 645,591 shares of the oil and gas producer's stock after acquiring an additional 69,280 shares during the period. First Trust Advisors LP owned 0.43% of CNX Resources worth $23,674,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Congress Asset Management Co. raised its holdings in CNX Resources by 7.2% during the fourth quarter. Congress Asset Management Co. now owns 266,447 shares of the oil and gas producer's stock valued at $9,771,000 after acquiring an additional 17,951 shares during the period. World Investment Advisors LLC bought a new stake in CNX Resources in the third quarter worth about $534,000. Convergence Investment Partners LLC purchased a new position in CNX Resources during the 4th quarter valued at $1,556,000. Charles Schwab Investment Management Inc. increased its stake in CNX Resources by 7.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,000,464 shares of the oil and gas producer's stock worth $73,357,000 after purchasing an additional 139,647 shares during the period. Finally, Wakefield Asset Management LLLP bought a new stake in shares of CNX Resources during the fourth quarter worth $1,047,000. Hedge funds and other institutional investors own 95.16% of the company's stock.

CNX Resources Trading Down 0.2 %

CNX traded down $0.05 on Thursday, hitting $29.38. The company had a trading volume of 470,547 shares, compared to its average volume of 2,672,871. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 0.45. The firm has a market cap of $4.33 billion, a P/E ratio of -43.28, a PEG ratio of 0.42 and a beta of 1.33. The company's fifty day moving average price is $30.25 and its 200 day moving average price is $32.97. CNX Resources Co. has a 1 year low of $22.82 and a 1 year high of $41.93.

CNX Resources (NYSE:CNX - Get Free Report) last released its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.14. CNX Resources had a positive return on equity of 6.72% and a negative net margin of 7.14%. As a group, equities analysts expect that CNX Resources Co. will post 2.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

CNX has been the topic of a number of research analyst reports. Piper Sandler reduced their price target on shares of CNX Resources from $22.00 to $21.00 and set an "underweight" rating on the stock in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. lifted their price target on shares of CNX Resources from $32.00 to $33.00 and gave the company an "underweight" rating in a research note on Thursday, March 13th. Morgan Stanley reissued an "underweight" rating and issued a $31.00 price objective on shares of CNX Resources in a research note on Tuesday, April 15th. Raymond James upgraded CNX Resources from an "underperform" rating to a "market perform" rating in a report on Tuesday, February 18th. Finally, Scotiabank upgraded CNX Resources from a "sector underperform" rating to a "sector perform" rating and set a $33.00 price target on the stock in a research note on Friday, April 11th. Eight investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, CNX Resources has an average rating of "Hold" and a consensus target price of $31.17.

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.