In the first quarter of this year, &Guggenheim Capital LLC, a prominent investment firm, reduced its stake in CNX Resources Co. (NYSE:CNX) by 16.0%. This information was disclosed in the company’s recent 13F filing with the Securities & Exchange Commission. The filing revealed that Guggenheim Capital LLC now owns 117,439 shares of CNX Resources’ stock, representing a decrease of 22,401 shares from the previous period. At the end of the quarter, the value of Guggenheim Capital LLC’s stake in CNX Resources amounted to $1,881,000.
CNX Resources Corporation is an independent natural gas and midstream company that focuses on acquiring, exploring, developing, and producing natural gas properties in the Appalachian Basin. The company operates in two segments: Shale and Coalbed Methane (CBM). Its primary business activity involves producing and selling pipeline-quality natural gas primarily to gas wholesalers.
The Appalachian Basin is renowned for its abundant reserves of natural gas. With a vast portfolio of assets in this region, CNX Resources has positioned itself as a key player in the industry. The company leverages advanced drilling techniques and innovative technologies to extract natural gas efficiently and safely.
While it is not uncommon for investment firms like Guggenheim Capital LLC to adjust their holdings periodically based on market conditions and investment strategies, this reduction in stake raises questions about their outlook on CNX Resources’ future performance.
Investors closely track such filings from institutional investors like Guggenheim Capital LLC because they provide insights into market sentiment surrounding specific stocks. However, it is important to note that these filings represent historical data at a specific point in time and may not reflect current or future market sentiments.
As with any investment decision, it is essential for individual investors to conduct thorough research and carefully analyze all available information before making any decisions regarding buying or selling stocks. Understanding a company’s financial health, industry trends, and potential future prospects is crucial for making well-informed investment choices.
CNX Resources’ stock report should be regarded as one source of information among many others available to investors. Staying updated on the latest news, industry developments, and financial reports can help individuals make more informed decisions about their investment portfolios.
It is advisable to consult with a qualified financial advisor or investment professional before acting on any information provided in this article or relying solely on our stock report on CNX Resources. Market dynamics are complex and ever-changing, and professional guidance can assist investors in navigating these complexities effectively.
This article serves as an overview of the recent change in Guggenheim Capital LLC’s stake in CNX Resources Co. and provides general insights into the company’s operations. Individuals interested in CNX Resources are encouraged to explore additional resources and conduct further research to gain a holistic understanding of the company.
CNX Resources Corporation
Updated on: 05/12/2023
Debt to equity ratio: Buy
Price to earnings ratio: Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Strong Buy
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Investor Holdings and Analyst Opinions Impact CNX Resources Co.’s Future Performance
CNX Resources Co. (NYSE: CNX), an oil and gas producer, has recently seen modifications in its holdings by various large investors. Aventail Capital Group LP acquired a new stake in CNX Resources during the fourth quarter, with a worth of approximately $505,000. Schroder Investment Management Group also increased its stake in CNX Resources by 64.3% during the same period, now owning 810,463 shares valued at $13,648,000. Additionally, Qsemble Capital Management LP grew its stake in the company by 90.8% during the first quarter and Clear Street Markets LLC purchased a new position in CNX Resources in the fourth quarter.
With these investments taking place, it is notable that hedge funds and other institutional investors currently own 95.16% of CNX Resources’ stock. This indicates a high level of interest from influential players within the industry.
The recent analyst reports on CNX Resources have proven interesting as well. Piper Sandler raised their price target on the company’s shares from $16.00 to $19.00 and provided a “neutral” rating in their research report published on August 14th. Similarly, Truist Financial upped their price target to $17.00 and gave a “hold” rating to the company in their report released on July 24th.
However, not all analyst opinions are positive for CNX Resources. Mizuho increased their price target to $22.00 but gave an “underperform” rating for the company based on their research report shared on August 16th.
In terms of overall ratings from analysts sourced via Bloomberg data, CNBC Resources currently holds a consensus rating of “Hold” accompanied by an average target price of $19.60.
On Thursday September 1st, NYSE CNX opened at $22.22 per share. The company’s stock performance indicators show that it has a 50-day simple moving average of $19.57 and a two-hundred day simple moving average of $17.15.
CNX Resources Co. boasts a market capitalization of $3.59 billion, with a price-to-earnings ratio of 2.34, and a beta of 1.37.
When looking at its recent financial results, CNX Resources reported an EPS (earnings per share) of $0.29 for the last quarter, surpassing the consensus estimate by $0.05. The company generated revenue of $839.70 million during this period, significantly higher than the estimated figure of $386.68 million.
Furthermore, CNX Resources attained a net margin of 49.95% and produced a return on equity of 12.98%. Comparing this quarter to the same period last year, the company’s quarterly revenue increased by an impressive 99.7%. In the same quarter in the previous year, CNX Resources posted earnings per share of $0.61.
Equities analysts predict that CNX Resources Co., based on current trends and data, is expected to post an EPS of 1.6 for the ongoing fiscal year.
In summary, CNX Resources Co., an oil and gas producer listed on the NYSE with its unique stock symbol CNX, has been experiencing changes in its investors’ holdings and has garnered varied opinions from different analysts within the market space over recent months. As we progress through September 2023, it will be intriguing to see how these factors affect the company’s overall performance in both short-term and long-term scenarios