Allianz Asset Management GmbH Sells 270,414 Shares of CNX Resources Corporation. $CNX

Allianz Asset Management GmbH trimmed its position in shares of CNX Resources Corporation. (NYSE:CNX) by 43.9% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 345,913 shares of the oil and gas producer’s stock after selling 270,414 shares during the quarter. Allianz Asset Management GmbH’s holdings in CNX Resources were worth $11,650,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Ameritas Advisory Services LLC purchased a new position in shares of CNX Resources during the 2nd quarter valued at about $32,000. Public Employees Retirement System of Ohio purchased a new position in shares of CNX Resources during the 2nd quarter valued at about $115,000. CWM LLC raised its holdings in shares of CNX Resources by 26.0% during the 2nd quarter. CWM LLC now owns 3,405 shares of the oil and gas producer’s stock valued at $115,000 after buying an additional 703 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of CNX Resources by 11.5% during the 2nd quarter. GAMMA Investing LLC now owns 3,760 shares of the oil and gas producer’s stock valued at $127,000 after buying an additional 389 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of CNX Resources by 30.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 3,838 shares of the oil and gas producer’s stock valued at $129,000 after buying an additional 907 shares in the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. TD Cowen raised CNX Resources to a “hold” rating in a report on Monday, July 7th. Siebert Williams Shank assumed coverage on CNX Resources in a report on Monday, September 15th. They set a “hold” rating and a $32.00 price objective on the stock. Morgan Stanley decreased their price objective on CNX Resources from $32.00 to $31.00 and set an “underweight” rating on the stock in a report on Tuesday, October 14th. Scotiabank lifted their price target on CNX Resources from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. Finally, Piper Sandler decreased their price target on CNX Resources from $26.00 to $24.00 and set an “underweight” rating on the stock in a research note on Thursday, August 14th. One research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $32.50.

CNX Resources Price Performance

Shares of CNX Resources stock opened at $31.94 on Wednesday. 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 business’s 50 day simple moving average is $30.64 and its two-hundred day simple moving average is $31.21. The stock has a market capitalization of $4.52 billion, a P/E ratio of 54.13, a price-to-earnings-growth ratio of 0.28 and a beta of 0.55. CNX Resources Corporation. has a one year low of $27.00 and a one year high of $41.93.

About CNX Resources

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.