Stifel Financial Corp Sells 4,459 Shares of CNX Resources Co. (NYSE:CNX)

Stifel Financial Corp lessened its holdings in CNX Resources Co. (NYSE:CNX) by 18.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,024 shares of the oil and gas producer’s stock after selling 4,459 shares during the quarter. Stifel Financial Corp’s holdings in CNX Resources were worth $652,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CNX. Systematic Financial Management LP acquired a new position in CNX Resources during the third quarter worth $882,000. Quadrature Capital Ltd acquired a new stake in shares of CNX Resources in the third quarter valued at approximately $649,000. RBF Capital LLC acquired a new stake in shares of CNX Resources in the 3rd quarter valued at $814,000. Jacobs Levy Equity Management Inc. bought a new stake in CNX Resources during the 3rd quarter worth about $209,000. Finally, Hilltop Holdings Inc. bought a new stake in shares of CNX Resources during the third quarter worth approximately $238,000. Institutional investors own 95.16% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Tudor Pickering upgraded CNX Resources to a “strong sell” rating in a report on Tuesday, October 1st. Mizuho cut CNX Resources from a “neutral” rating to an “underperform” rating and increased their target price for the stock from $33.00 to $38.00 in a report on Monday, December 16th. Bank of America began coverage on shares of CNX Resources in a research note on Monday, October 28th. They set an “underperform” rating and a $34.00 price target for the company. BMO Capital Markets raised their price objective on CNX Resources from $26.00 to $29.00 and gave the company a “market perform” rating in a report on Friday, October 4th. Finally, Capital One Financial downgraded 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 report on Monday, October 14th. Eight research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat.com, CNX Resources has an average rating of “Reduce” and an average price target of $30.50.

CNX Resources Stock Performance

NYSE:CNX opened at $36.69 on Thursday. CNX Resources Co. has a 1-year low of $19.07 and a 1-year high of $41.93. The stock has a market cap of $5.48 billion, a P/E ratio of 11.54, a PEG ratio of 1.85 and a beta of 1.43. The stock has a 50 day simple moving average of $37.49 and a 200 day simple moving average of $31.00. The company has a current ratio of 0.37, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46.

CNX Resources (NYSE:CNX) last announced its quarterly earnings data 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. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. The firm had revenue of $424.21 million for the quarter, compared to the consensus estimate of $398.33 million. During the same period in the prior year, the company posted $0.35 earnings per share. Research analysts anticipate that CNX Resources Co. will post 1.54 earnings per share for the current year.

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.