Principal Financial Group Inc. Has $14.91 Million Holdings in CNX Resources Co. (NYSE:CNX)

Principal Financial Group Inc. lessened its holdings in shares of CNX Resources Co. (NYSE:CNX) by 24.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 457,637 shares of the oil and gas producer’s stock after selling 150,831 shares during the period. Principal Financial Group Inc.’s holdings in CNX Resources were worth $14,905,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of CNX. GAMMA Investing LLC raised its stake in CNX Resources by 54.1% during the second quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock worth $46,000 after buying an additional 666 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of CNX Resources by 135.4% in the 3rd quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer’s stock worth $64,000 after acquiring an additional 1,131 shares during the last quarter. CWM LLC raised its holdings in shares of CNX Resources by 77.0% in the 3rd quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock worth $70,000 after acquiring an additional 935 shares during the last quarter. Natixis acquired a new stake in shares of CNX Resources in the 1st quarter worth about $79,000. Finally, Innealta Capital LLC bought a new stake in CNX Resources in the 2nd quarter worth about $131,000. Institutional investors own 95.16% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CNX shares. Scotiabank upped their price objective on shares of CNX Resources from $25.00 to $27.00 and gave the stock a “sector underperform” rating in a research report on Tuesday, August 20th. Tudor, Pickering, Holt & Co. downgraded shares of CNX Resources from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. Truist Financial cut shares of CNX Resources from a “buy” rating to a “hold” rating and lowered their target price for the stock from $38.00 to $34.00 in a research note on Monday, October 28th. Capital One Financial cut shares of CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 target price on the stock. in a research note on Monday, October 14th. Finally, BMO Capital Markets increased their target price on shares of CNX Resources from $26.00 to $29.00 and gave the stock a “market perform” rating in a research note on Friday, October 4th. Six research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $29.00.

Insiders Place Their Bets

In other news, Director Bernard Lanigan, Jr. purchased 75,000 shares of the business’s stock in a transaction on Monday, September 9th. The shares were acquired at an average price of $26.81 per share, with a total value of $2,010,750.00. Following the acquisition, the director now directly owns 401,820 shares in the company, valued at approximately $10,772,794.20. The trade was a 22.95 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 3.10% of the company’s stock.

CNX Resources Price Performance

Shares of NYSE:CNX opened at $38.18 on Friday. The stock has a market cap of $5.70 billion, a PE ratio of 12.01, a PEG ratio of 1.87 and a beta of 1.37. The company’s fifty day moving average is $33.69 and its 200 day moving average is $28.27. CNX Resources Co. has a 52 week low of $19.07 and a 52 week high of $40.08. The company has a quick ratio of 0.36, a current ratio of 0.37 and a debt-to-equity ratio of 0.46.

CNX Resources (NYSE:CNX) last announced its quarterly earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.09. The business had revenue of $424.21 million for the quarter, compared to analyst estimates of $398.33 million. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. During the same quarter last year, the firm earned $0.35 EPS. Research analysts anticipate that CNX Resources Co. will post 1.53 earnings per share for the current year.

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.