Hsbc Holdings PLC Buys 269,684 Shares of CNX Resources Co. (NYSE:CNX)

Hsbc Holdings PLC raised its holdings in CNX Resources Co. (NYSE:CNX - Free Report) by 3,024.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 278,602 shares of the oil and gas producer's stock after purchasing an additional 269,684 shares during the period. Hsbc Holdings PLC owned approximately 0.19% of CNX Resources worth $10,313,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CNX. Arrowstreet Capital Limited Partnership acquired a new stake in shares of CNX Resources in the fourth quarter valued at approximately $37,923,000. Raymond James Financial Inc. acquired a new position in CNX Resources in the 4th quarter valued at $14,268,000. Bridgewater Associates LP bought a new stake in shares of CNX Resources during the 4th quarter valued at $13,430,000. Capital Research Global Investors grew its holdings in shares of CNX Resources by 31.8% during the 4th quarter. Capital Research Global Investors now owns 1,450,000 shares of the oil and gas producer's stock worth $53,172,000 after purchasing an additional 350,000 shares in the last quarter. Finally, Empirical Asset Management LLC bought a new position in shares of CNX Resources in the fourth quarter worth $9,281,000. Institutional investors own 95.16% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on CNX. Cowen reaffirmed a "hold" rating on shares of CNX Resources in a research report on Friday, April 25th. JPMorgan Chase & Co. increased their price target on shares of CNX Resources from $32.00 to $33.00 and gave the stock an "underweight" rating in a research report on Thursday, March 13th. Scotiabank raised shares of CNX Resources from a "sector underperform" rating to a "sector perform" rating and set a $33.00 price objective on the stock in a research note on Friday, April 11th. Raymond James upgraded CNX Resources from an "underperform" rating to a "market perform" rating in a research note on Tuesday, February 18th. Finally, Roth Capital set a $30.00 price target on CNX Resources in a research note on Thursday, January 23rd. 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 stock. Based on data from MarketBeat, CNX Resources has a consensus rating of "Hold" and a consensus target price of $31.17.

CNX Resources Trading Up 2.4 %

NYSE CNX traded up $0.70 during trading hours on Friday, reaching $30.28. The company's stock had a trading volume of 2,123,393 shares, compared to its average volume of 2,682,259. The firm has a fifty day simple moving average of $30.24 and a 200-day simple moving average of $32.89. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32. CNX Resources Co. has a 52 week low of $23.10 and a 52 week high of $41.93. The stock has a market cap of $4.38 billion, a P/E ratio of -44.53, a P/E/G ratio of 0.42 and a beta of 1.33.

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

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.