CNX Resources Corp (CNX) Position Increased by Schwab Charles Investment Management Inc.

Schwab Charles Investment Management Inc. raised its stake in CNX Resources Corp (NYSE:CNX) by 15.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,054,493 shares of the oil and gas producer’s stock after acquiring an additional 143,788 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.46% of CNX Resources worth $17,864,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CNX. Southeastern Asset Management Inc. TN grew its position in CNX Resources by 0.9% during the 2nd quarter. Southeastern Asset Management Inc. TN now owns 50,917,034 shares of the oil and gas producer’s stock worth $760,701,000 after acquiring an additional 441,482 shares during the last quarter. Vanguard Group Inc. grew its position in shares of CNX Resources by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 13,822,103 shares of the oil and gas producer’s stock valued at $206,502,000 after buying an additional 112,638 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of CNX Resources by 11.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,493,977 shares of the oil and gas producer’s stock valued at $141,844,000 after buying an additional 1,003,459 shares during the last quarter. Van ECK Associates Corp grew its position in shares of CNX Resources by 2.0% in the 3rd quarter. Van ECK Associates Corp now owns 5,874,962 shares of the oil and gas producer’s stock valued at $99,522,000 after buying an additional 113,594 shares during the last quarter. Finally, Prudential Financial Inc. grew its position in shares of CNX Resources by 184.5% in the 3rd quarter. Prudential Financial Inc. now owns 2,943,572 shares of the oil and gas producer’s stock valued at $49,864,000 after buying an additional 1,909,019 shares during the last quarter. 99.29% of the stock is owned by hedge funds and other institutional investors.

CNX Resources Corp (NYSE CNX) traded up $0.15 during trading on Friday, hitting $15.19. The stock had a trading volume of 2,122,644 shares, compared to its average volume of 2,454,400. CNX Resources Corp has a 52-week low of $11.29 and a 52-week high of $16.47. The company has a quick ratio of 0.86, a current ratio of 0.94 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $3,460.00, a price-to-earnings ratio of -15.66 and a beta of 1.52.

CNX Resources (NYSE:CNX) last posted its quarterly earnings results on Tuesday, October 31st. The oil and gas producer reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.14). CNX Resources had a negative return on equity of 2.69% and a negative net margin of 4.53%. The company had revenue of $671.30 million during the quarter, compared to the consensus estimate of $623.00 million. During the same period in the previous year, the business earned $0.04 earnings per share. CNX Resources’s revenue was down 10.0% on a year-over-year basis. research analysts forecast that CNX Resources Corp will post 0.13 earnings per share for the current year.

CNX Resources announced that its board has authorized a share buyback plan on Tuesday, October 31st that permits the company to buyback $369.00 million in outstanding shares. This buyback authorization permits the oil and gas producer to reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Several brokerages recently commented on CNX. Stifel Nicolaus reaffirmed a “buy” rating and set a $24.00 price target on shares of CNX Resources in a research note on Friday, October 13th. Seaport Global Securities assumed coverage on CNX Resources in a research note on Thursday, November 30th. They issued a “buy” rating and a $32.00 price objective for the company. Scotiabank reissued a “hold” rating on shares of CNX Resources in a research note on Wednesday, October 4th. Zacks Investment Research downgraded CNX Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, November 8th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $20.00 price target on shares of CNX Resources in a research report on Tuesday, October 10th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. CNX Resources has an average rating of “Hold” and a consensus target price of $22.91.

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About CNX Resources

CNX Resources Corp., formerly CONSOL Energy Inc, is an integrated energy company. The Company’s divisions include Exploration and Production (E&P), Pennsylvania (PA) Mining Operations and Other. The E&P division operates through four segments: Marcellus Shale, Utica Shale, Coalbed Methane (CBM) and Other Gas, which produce pipeline quality natural gas for sale primarily to gas wholesalers.

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

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