Great Lakes Advisors LLC Invests $2.35 Million in CNX Resources Corporation. $CNX

Great Lakes Advisors LLC acquired a new position in CNX Resources Corporation. (NYSE:CNX) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 41,484 shares of the oil and gas producer’s stock, valued at approximately $2,355,000.

A number of other large investors have also recently made changes to their positions in the business. BlackRock Inc. bought a new position in CNX Resources during the second quarter valued at $650,689,000. Deutsche Bank AG bought a new stake in shares of CNX Resources in the 2nd quarter worth about $7,742,000. Global Retirement Partners LLC purchased a new position in shares of CNX Resources during the 2nd quarter worth about $244,000. Bank of New York Mellon Corp purchased a new position in shares of CNX Resources during the 2nd quarter worth about $41,432,000. Finally, Wedge Capital Management L L P NC grew its holdings in CNX Resources by 1.5% during the 2nd quarter. Wedge Capital Management L L P NC now owns 105,430 shares of the oil and gas producer’s stock valued at $3,577,000 after purchasing an additional 1,548 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors.

CNX Resources Trading Down 0.3%

Shares of NYSE CNX opened at $36.36 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $34.15 and a two-hundred day simple moving average of $36.82. The firm has a market cap of $5.38 billion, a PE ratio of 6.07 and a beta of 0.60. CNX Resources Corporation. has a twelve month low of $28.45 and a twelve month high of $43.62.

CNX Resources (NYSE:CNX) last posted its quarterly earnings results on Thursday, July 30th. The oil and gas producer reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.72. The business had revenue of $618.48 million for the quarter, compared to the consensus estimate of $475.16 million. CNX Resources had a return on equity of 10.40% and a net margin of 36.53%.The business’s revenue was down 35.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.43 EPS. Analysts expect that CNX Resources Corporation. will post 3.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CNX shares. Barclays dropped their target price on CNX Resources from $36.00 to $35.00 and set an “underweight” rating for the company in a research report on Tuesday, May 26th. Morgan Stanley decreased their price target on CNX Resources from $34.00 to $32.00 and set an “underweight” rating for the company in a research note on Monday, June 29th. Weiss Ratings cut CNX Resources from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, July 28th. Zacks Research downgraded CNX Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Finally, Mizuho reduced their target price on CNX Resources from $44.00 to $42.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 27th. Nine investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $35.44.

CNX Resources Company Profile

CNX Resources Corporation is a natural gas and natural gas liquids producer with operations concentrated in the Appalachian Basin. Established as an independent, publicly traded entity in 2018 following its spinoff from Consol Energy, the company focuses on the exploration, development and production of hydrocarbon resources in the Marcellus and Utica shales across Pennsylvania, West Virginia and Ohio.

In addition to its upstream activities, CNX Resources has invested in midstream infrastructure through its subsidiary that gathers, processes and transports natural gas.