American Century Companies Inc. Acquires 560,703 Shares of CNX Resources Co. (NYSE:CNX)

Posted by on Aug 29th, 2023

American Century Companies Inc. grew its holdings in CNX Resources Co. (NYSE:CNX – Free Report) by 38.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,028,512 shares of the oil and gas producer’s stock after purchasing an additional 560,703 shares during the quarter. American Century Companies Inc. owned approximately 1.23% of CNX Resources worth $32,497,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Franklin Resources Inc. boosted its stake in shares of CNX Resources by 4.9% in the 2nd quarter. Franklin Resources Inc. now owns 15,597 shares of the oil and gas producer’s stock valued at $256,000 after purchasing an additional 723 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in shares of CNX Resources by 87.9% in the 4th quarter. Quadrant Capital Group LLC now owns 1,599 shares of the oil and gas producer’s stock valued at $27,000 after purchasing an additional 748 shares during the last quarter. Riverwater Partners LLC boosted its stake in shares of CNX Resources by 1.0% in the 1st quarter. Riverwater Partners LLC now owns 82,572 shares of the oil and gas producer’s stock valued at $1,323,000 after purchasing an additional 855 shares during the last quarter. Verition Fund Management LLC boosted its stake in shares of CNX Resources by 5.6% in the 4th quarter. Verition Fund Management LLC now owns 16,972 shares of the oil and gas producer’s stock valued at $286,000 after purchasing an additional 903 shares during the last quarter. Finally, Miller Wealth Advisors LLC boosted its stake in shares of CNX Resources by 717.7% in the 1st quarter. Miller Wealth Advisors LLC now owns 1,063 shares of the oil and gas producer’s stock valued at $130,000 after purchasing an additional 933 shares during the last quarter. Institutional investors own 95.16% of the company’s stock.

CNX Resources Stock Performance

Shares of CNX stock opened at $21.76 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.54 and a current ratio of 0.58. The company has a market capitalization of $3.51 billion, a P/E ratio of 2.30, a price-to-earnings-growth ratio of 2.45 and a beta of 1.37. The company’s 50 day moving average price is $19.38 and its two-hundred day moving average price is $17.08. CNX Resources Co. has a 52 week low of $14.36 and a 52 week high of $22.70.

CNX Resources (NYSE:CNX – Get Free Report) last announced its earnings results on Thursday, July 27th. The oil and gas producer reported $0.29 EPS for the quarter, topping the consensus estimate of $0.24 by $0.05. CNX Resources had a net margin of 49.95% and a return on equity of 12.98%. The firm had revenue of $839.70 million for the quarter, compared to the consensus estimate of $386.68 million. During the same period last year, the company posted $0.61 EPS. The business’s quarterly revenue was up 99.7% on a year-over-year basis. On average, analysts expect that CNX Resources Co. will post 1.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Piper Sandler lifted their price objective on shares of CNX Resources from $16.00 to $19.00 and gave the stock a “neutral” rating in a research note on Monday, August 14th. Mizuho lifted their price objective on shares of CNX Resources from $18.00 to $22.00 and gave the stock an “underperform” rating in a research note on Wednesday, August 16th. Truist Financial lifted their price objective on shares of CNX Resources from $15.00 to $17.00 and gave the stock a “hold” rating in a research note on Monday, July 24th. Finally, StockNews.com assumed coverage on shares of CNX Resources in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat.com, CNX Resources has an average rating of “Hold” and an average target price of $19.60.

Read Our Latest Stock Analysis on CNX Resources

CNX Resources Profile

(Free Report)

CNX Resources Corporation, an independent natural gas and midstream company, acquires, explores for, develops, and produces 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.

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Institutional Ownership by Quarter for CNX Resources (NYSE:CNX)

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