Allspring Global Investments Holdings LLC Has $423,000 Holdings in CNX Resources Co. (NYSE:CNX)

Allspring Global Investments Holdings LLC lifted its stake in shares of CNX Resources Co. (NYSE:CNX) by 123.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,166 shares of the oil and gas producer’s stock after acquiring an additional 11,712 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in CNX Resources were worth $423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. International Assets Investment Management LLC bought a new stake in CNX Resources in the fourth quarter worth approximately $2,176,000. Wakefield Asset Management LLLP increased its holdings in CNX Resources by 7.2% in the fourth quarter. Wakefield Asset Management LLLP now owns 48,327 shares of the oil and gas producer’s stock worth $967,000 after purchasing an additional 3,264 shares in the last quarter. Trust Point Inc. bought a new stake in CNX Resources in the fourth quarter worth approximately $717,000. Spirit of America Management Corp NY increased its holdings in CNX Resources by 65.4% in the fourth quarter. Spirit of America Management Corp NY now owns 21,500 shares of the oil and gas producer’s stock worth $430,000 after purchasing an additional 8,500 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of CNX Resources by 15.8% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 19,736 shares of the oil and gas producer’s stock valued at $395,000 after buying an additional 2,687 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors.

Insider Activity at CNX Resources

In related news, EVP Timothy Scott Bedard sold 1,226 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $20.83, for a total transaction of $25,537.58. Following the completion of the transaction, the executive vice president now directly owns 67,982 shares in the company, valued at $1,416,065.06. The transaction was disclosed in a document filed with the SEC, which is available through this link. 3.10% of the stock is currently owned by corporate insiders.

CNX Resources Stock Performance

Shares of CNX opened at $24.01 on Friday. The firm has a market cap of $3.68 billion, a PE ratio of 2.64 and a beta of 1.33. The stock’s fifty day moving average price is $22.59 and its two-hundred day moving average price is $21.42. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.51 and a quick ratio of 0.49. CNX Resources Co. has a 1 year low of $14.36 and a 1 year high of $24.82.

CNX Resources (NYSE:CNX) last released its quarterly earnings data on Thursday, January 25th. The oil and gas producer reported $2.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $2.59. CNX Resources had a return on equity of 9.00% and a net margin of 50.34%. The company had revenue of $999.50 million for the quarter, compared to analyst estimates of $401.62 million. During the same period in the previous year, the company posted $1.64 EPS. The firm’s revenue for the quarter was down 38.9% compared to the same quarter last year. On average, equities research analysts forecast that CNX Resources Co. will post 1.29 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CNX shares. Truist Financial lifted their target price on CNX Resources from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Mizuho lifted their target price on CNX Resources from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Piper Sandler boosted their price objective on CNX Resources from $18.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, April 19th. Scotiabank boosted their price objective on CNX Resources from $20.00 to $25.00 and gave the stock a “sector underperform” rating in a research report on Thursday, April 11th. Finally, Roth Mkm boosted their price objective on CNX Resources from $18.00 to $22.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $24.43.

CNX Resources Company 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.