UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 35,858 Shares of CNX Resources Corporation. $CNX

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in CNX Resources Corporation. (NYSE:CNX) by 16.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 180,489 shares of the oil and gas producer’s stock after selling 35,858 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in CNX Resources were worth $6,124,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. State of Wyoming bought a new position in shares of CNX Resources in the 2nd quarter worth approximately $29,000. Smartleaf Asset Management LLC raised its position in CNX Resources by 56.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 810 shares of the oil and gas producer’s stock worth $30,000 after acquiring an additional 293 shares during the period. Caitlin John LLC purchased a new position in shares of CNX Resources during the 2nd quarter worth $33,000. Los Angeles Capital Management LLC purchased a new position in shares of CNX Resources during the 4th quarter worth $34,000. Finally, Kestra Advisory Services LLC bought a new stake in shares of CNX Resources during the 4th quarter valued at $50,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Morgan Stanley reduced their price objective 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. Mizuho cut their price target on CNX Resources from $44.00 to $42.00 and set a “neutral” rating for the company in a report on Wednesday, May 27th. Weiss Ratings cut CNX Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, July 28th. Barclays decreased their price objective on CNX Resources from $36.00 to $35.00 and set an “underweight” rating on the stock in a research note on Tuesday, May 26th. Finally, Truist Financial raised CNX Resources from a “sell” rating to a “hold” rating and set a $35.00 price objective on the stock in a research report on Wednesday, July 15th. Nine investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, CNX Resources has an average rating of “Reduce” and an average target price of $35.44.

CNX Resources Stock Performance

Shares of NYSE CNX opened at $37.06 on Wednesday. The stock has a market cap of $5.48 billion, a PE ratio of 6.19 and a beta of 0.61. CNX Resources Corporation. has a 1 year low of $28.82 and a 1 year high of $43.62. The firm has a fifty day moving average price of $34.99 and a 200-day moving average price of $36.58. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.72 and a quick ratio of 0.67.

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

About CNX Resources

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.