Legal & General Group Plc Takes $6.08 Million Position in CNX Resources Corporation. $CNX

Legal & General Group Plc acquired a new position in shares of CNX Resources Corporation. (NYSE:CNX) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 179,261 shares of the oil and gas producer’s stock, valued at approximately $6,082,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CNX. Smartleaf Asset Management LLC increased its stake in CNX Resources by 56.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 810 shares of the oil and gas producer’s stock valued at $30,000 after acquiring an additional 293 shares during the last quarter. State of Wyoming purchased a new stake in CNX Resources during the second quarter valued at about $29,000. Los Angeles Capital Management LLC bought a new stake in CNX Resources during the fourth quarter worth about $34,000. Kestra Advisory Services LLC bought a new stake in CNX Resources during the fourth quarter worth about $50,000. Finally, Highlander Partners L.P. purchased a new position in shares of CNX Resources in the 4th quarter worth about $56,000. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

CNX Resources Stock Performance

NYSE CNX opened at $37.59 on Thursday. The company has a 50-day simple moving average of $34.69 and a two-hundred day simple moving average of $36.66. CNX Resources Corporation. has a 12-month low of $28.82 and a 12-month high of $43.62. The firm has a market cap of $5.56 billion, a price-to-earnings ratio of 6.27 and a beta of 0.61. 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) last released its quarterly earnings data on Thursday, July 30th. The oil and gas producer reported $1.32 EPS for the quarter, topping the consensus estimate of $0.60 by $0.72. CNX Resources had a return on equity of 10.40% and a net margin of 36.53%.The firm had revenue of $618.48 million for the quarter, compared to the consensus estimate of $475.16 million. During the same quarter in the previous year, the business earned $2.43 earnings per share. The company’s quarterly revenue was down 35.7% on a year-over-year basis. On average, equities analysts forecast that CNX Resources Corporation. will post 3.08 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CNX shares. Tudor Pickering upgraded CNX Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, May 8th. Barclays dropped their target price on CNX Resources from $36.00 to $35.00 and set an “underweight” rating for the company in a research report on Tuesday, May 26th. Truist Financial raised CNX Resources from a “sell” rating to a “hold” rating and set a $35.00 target price for the company in a research note on Wednesday, July 15th. Mizuho reduced their price target on shares of CNX Resources from $44.00 to $42.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 27th. Finally, Weiss Ratings downgraded shares of CNX Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, July 28th. Nine equities 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 target price of $35.44.

CNX Resources Company Profile

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.