Geode Capital Management LLC Cuts Stock Holdings in CNX Resources Corporation. $CNX

Geode Capital Management LLC decreased its position in CNX Resources Corporation. (NYSE:CNX) by 1.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,630,158 shares of the oil and gas producer’s stock after selling 57,455 shares during the quarter. Geode Capital Management LLC’s holdings in CNX Resources were worth $122,285,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Ameritas Advisory Services LLC purchased a new position in CNX Resources during the second quarter worth about $32,000. Public Employees Retirement System of Ohio purchased a new stake in CNX Resources in the 2nd quarter valued at about $115,000. CWM LLC increased its stake in CNX Resources by 26.0% in the 2nd 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 during the last quarter. GAMMA Investing LLC lifted its position in shares of CNX Resources by 11.5% during the 2nd quarter. GAMMA Investing LLC now owns 3,760 shares of the oil and gas producer’s stock worth $127,000 after buying an additional 389 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of CNX Resources by 30.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 3,838 shares of the oil and gas producer’s stock worth $129,000 after buying an additional 907 shares during the last quarter. 95.16% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CNX shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CNX Resources in a report on Monday. Morgan Stanley cut their price objective on CNX Resources from $32.00 to $31.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 14th. Piper Sandler decreased their target price on CNX Resources from $26.00 to $24.00 and set an “underweight” rating for the company in a research report on Thursday, August 14th. Scotiabank lifted their target price on CNX Resources from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. Finally, Zacks Research raised shares of CNX Resources from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $32.67.

CNX Resources Stock Down 0.5%

Shares of NYSE CNX opened at $36.97 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.33 and a quick ratio of 0.30. The stock has a market capitalization of $4.99 billion, a PE ratio of 62.67, a P/E/G ratio of 0.35 and a beta of 0.56. CNX Resources Corporation. has a one year low of $27.00 and a one year high of $41.93. The business’s fifty day moving average price is $33.00 and its 200-day moving average price is $31.94.

CNX Resources (NYSE:CNX) last announced its quarterly earnings data on Thursday, October 30th. The oil and gas producer reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.09. The business had revenue of $423.00 million for the quarter, compared to analysts’ expectations of $408.80 million. CNX Resources had a return on equity of 8.93% and a net margin of 9.70%.CNX Resources’s quarterly revenue was up 37.6% compared to the same quarter last year. On average, equities research analysts anticipate that CNX Resources Corporation. will post 2.18 EPS for the current year.

About CNX Resources

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.