Franklin Resources Inc. Has $5.83 Million Stock Position in CNX Resources Co. (NYSE:CNX)

Franklin Resources Inc. reduced its position in shares of CNX Resources Co. (NYSE:CNX) by 25.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 166,453 shares of the oil and gas producer’s stock after selling 55,345 shares during the period. Franklin Resources Inc. owned about 0.11% of CNX Resources worth $5,834,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CNX. Blue Trust Inc. raised its stake in shares of CNX Resources by 135.4% in the third quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer’s stock valued at $64,000 after acquiring an additional 1,131 shares during the last quarter. CWM LLC raised its position in CNX Resources by 77.0% in the 3rd quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock valued at $70,000 after purchasing an additional 935 shares during the last quarter. GAMMA Investing LLC boosted its stake in CNX Resources by 62.1% in the third quarter. GAMMA Investing LLC now owns 3,073 shares of the oil and gas producer’s stock worth $100,000 after purchasing an additional 1,177 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of CNX Resources during the second quarter worth $131,000. Finally, Atomi Financial Group Inc. acquired a new stake in shares of CNX Resources in the third quarter valued at $202,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

CNX Resources Stock Performance

Shares of CNX Resources stock opened at $36.25 on Monday. CNX Resources Co. has a 12 month low of $19.07 and a 12 month high of $41.93. The company has a current ratio of 0.37, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $5.41 billion, a PE ratio of 11.40, a PEG ratio of 1.85 and a beta of 1.43. The stock’s fifty day simple moving average is $37.39 and its 200 day simple moving average is $30.77.

CNX Resources (NYSE:CNX) last issued its quarterly earnings data on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.09. The business had revenue of $424.21 million during the quarter, compared to analyst estimates of $398.33 million. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. During the same period in the previous year, the firm earned $0.35 EPS. On average, research analysts predict that CNX Resources Co. will post 1.54 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on CNX shares. BMO Capital Markets upped their price target on shares of CNX Resources from $26.00 to $29.00 and gave the stock a “market perform” rating in a research report on Friday, October 4th. Capital One Financial cut shares of CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 price target on the stock. in a research note on Monday, October 14th. Piper Sandler upped their price objective on CNX Resources from $20.00 to $23.00 and gave the stock an “underweight” rating in a report on Friday, December 6th. Truist Financial lifted their target price on CNX Resources from $34.00 to $35.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Finally, Mizuho lowered CNX Resources from a “neutral” rating to an “underperform” rating and upped their price target for the company from $33.00 to $38.00 in a research note on Monday, December 16th. Eight analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $30.50.

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.