First Trust Advisors LP Sells 26,309 Shares of CNX Resources Co. (NYSE:CNX)

Posted by Defense World Staff on Mar 11th, 2023

First Trust Advisors LP trimmed its stake in shares of CNX Resources Co. (NYSE:CNX – Get Rating) by 2.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,012,948 shares of the oil and gas producer’s stock after selling 26,309 shares during the quarter. First Trust Advisors LP owned approximately 0.56% of CNX Resources worth $15,731,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of CNX. Russell Investments Group Ltd. grew its position in shares of CNX Resources by 65.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 132,342 shares of the oil and gas producer’s stock worth $2,053,000 after buying an additional 52,294 shares during the last quarter. Great West Life Assurance Co. Can bought a new stake in shares of CNX Resources in the 3rd quarter worth approximately $1,942,000. Capital Management Corp VA grew its position in shares of CNX Resources by 26.4% in the 3rd quarter. Capital Management Corp VA now owns 497,857 shares of the oil and gas producer’s stock worth $7,732,000 after buying an additional 103,917 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of CNX Resources by 2.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,962,241 shares of the oil and gas producer’s stock worth $46,004,000 after buying an additional 61,682 shares during the last quarter. Finally, Prudential Financial Inc. grew its position in shares of CNX Resources by 103.0% in the 3rd quarter. Prudential Financial Inc. now owns 161,541 shares of the oil and gas producer’s stock worth $2,511,000 after buying an additional 81,947 shares during the last quarter. 93.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CNX has been the topic of a number of recent analyst reports. StockNews.com lowered CNX Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, February 7th. Mizuho cut their price objective on CNX Resources from $18.00 to $16.00 in a research report on Friday. Two analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat.com, CNX Resources has an average rating of “Hold” and an average price target of $21.43.

CNX Resources Trading Down 1.1 %

NYSE CNX opened at $15.14 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.44 and a debt-to-equity ratio of 0.75. CNX Resources Co. has a twelve month low of $14.55 and a twelve month high of $24.21. The firm has a market capitalization of $2.58 billion, a PE ratio of -14.15, a P/E/G ratio of 0.39 and a beta of 1.32. The stock’s 50 day moving average is $16.05 and its 200 day moving average is $16.75.

CNX Resources (NYSE:CNX – Get Rating) last announced its quarterly earnings data on Thursday, January 26th. The oil and gas producer reported $5.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $5.11. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $510.19 million. CNX Resources had a positive return on equity of 21.25% and a negative net margin of 5.36%. The firm’s quarterly revenue was up 26.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.31 earnings per share. Research analysts forecast that CNX Resources Co. will post 1.97 earnings per share for the current fiscal year.

CNX Resources Company Profile

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CNX Resources Corp. engages in the exploration, development, production, and acquisition of natural gas properties in the Appalachian Basin. It operates through the following segments: Shale, Coalbed Methane, and Other Gas. The Shale segment refers to primary reserves, production, and capital investments.