Allianz Asset Management GmbH Sells 270,414 Shares of CNX Resources Corporation. $CNX

Allianz Asset Management GmbH decreased its position in shares of CNX Resources Corporation. (NYSE:CNX) by 43.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 345,913 shares of the oil and gas producer’s stock after selling 270,414 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.24% of CNX Resources worth $11,650,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CNX. Nuveen LLC bought a new position in shares of CNX Resources during the 1st quarter worth $35,567,000. Adage Capital Partners GP L.L.C. grew its stake in shares of CNX Resources by 514.0% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,200,000 shares of the oil and gas producer’s stock worth $37,776,000 after acquiring an additional 1,004,545 shares during the period. Vanguard Group Inc. grew its stake in shares of CNX Resources by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 15,952,281 shares of the oil and gas producer’s stock worth $502,178,000 after acquiring an additional 665,289 shares during the period. Corigliano Investment Advisers LLC bought a new position in shares of CNX Resources during the 1st quarter worth $16,151,000. Finally, Trexquant Investment LP bought a new position in CNX Resources in the 1st quarter worth about $14,077,000. Institutional investors own 95.16% of the company’s stock.

Analyst Upgrades and Downgrades

CNX has been the subject of several analyst reports. Siebert Williams Shank initiated coverage on CNX Resources in a research note on Monday, September 15th. They issued a “hold” rating and a $32.00 target price for the company. Weiss Ratings restated a “hold (c-)” rating on shares of CNX Resources in a research note on Tuesday, October 14th. Barclays cut their target price on CNX Resources from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 7th. Morgan Stanley cut their target price on CNX Resources from $32.00 to $31.00 and set an “underweight” rating for the company in a research note on Tuesday, October 14th. Finally, Piper Sandler cut their target price on CNX Resources from $26.00 to $24.00 and set an “underweight” rating for the company in a research note on Thursday, August 14th. One investment analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat.com, CNX Resources currently has an average rating of “Reduce” and a consensus target price of $32.50.

CNX Resources Stock Performance

Shares of CNX opened at $31.94 on Wednesday. The company has a market cap of $4.52 billion, a PE ratio of 54.13, a price-to-earnings-growth ratio of 0.28 and a beta of 0.55. The company has a current ratio of 0.33, a quick ratio of 0.30 and a debt-to-equity ratio of 0.56. The stock has a 50-day moving average price of $30.64 and a 200-day moving average price of $31.21. CNX Resources Corporation. has a 12-month low of $27.00 and a 12-month high of $41.93.

CNX Resources 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.