CNX Resources Corporation. $CNX Stock Holdings Lessened by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC cut its stake in shares of CNX Resources Corporation. (NYSE:CNX) by 6.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 629,793 shares of the oil and gas producer’s stock after selling 40,204 shares during the quarter. Brandywine Global Investment Management LLC owned 0.45% of CNX Resources worth $21,211,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Ameritas Advisory Services LLC purchased a new position in CNX Resources during the 2nd quarter worth approximately $32,000. MTM Investment Management LLC acquired a new stake in shares of CNX Resources in the second quarter worth $67,000. CWM LLC grew its holdings in shares of CNX Resources by 26.0% during the second 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. Public Employees Retirement System of Ohio acquired a new position in CNX Resources during the second quarter valued at $115,000. Finally, GAMMA Investing LLC lifted its stake in CNX Resources by 11.5% in the 2nd quarter. GAMMA Investing LLC now owns 3,760 shares of the oil and gas producer’s stock worth $127,000 after acquiring an additional 389 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

CNX Resources Price Performance

NYSE CNX opened at $36.94 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.33 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $4.98 billion, a PE ratio of 62.61, a price-to-earnings-growth ratio of 0.35 and a beta of 0.56. The company has a 50 day moving average price of $33.27 and a two-hundred day moving average price of $32.01. CNX Resources Corporation. has a 12-month low of $27.00 and a 12-month high of $41.93.

CNX Resources (NYSE:CNX) last announced its quarterly earnings results on Thursday, October 30th. The oil and gas producer reported $0.46 EPS for the quarter, topping the consensus estimate of $0.37 by $0.09. The company had revenue of $423.00 million for the quarter, compared to analyst estimates of $408.80 million. CNX Resources had a net margin of 9.70% and a return on equity of 8.93%. The business’s revenue for the quarter was up 37.6% on a year-over-year basis. As a group, equities analysts predict that CNX Resources Corporation. will post 2.18 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CNX has been the topic of several research analyst reports. Piper Sandler lowered their target price 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. Morgan Stanley decreased their price target on shares of CNX Resources from $32.00 to $31.00 and set an “underweight” rating for the company in a report on Tuesday, October 14th. Siebert Williams Shank started coverage on shares of CNX Resources in a research note on Monday, September 15th. They issued a “hold” rating and a $32.00 price objective on the stock. Barclays increased their target price on shares of CNX Resources from $32.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Friday, October 31st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of CNX Resources in a report on Monday. One research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, CNX Resources currently has a consensus rating of “Reduce” and a consensus price target of $33.00.

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.