MML Investors Services LLC Has $314,000 Stock Holdings in CNX Resources Co. (NYSE:CNX)

MML Investors Services LLC reduced its stake in CNX Resources Co. (NYSE:CNX) by 7.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,632 shares of the oil and gas producer’s stock after selling 817 shares during the quarter. MML Investors Services LLC’s holdings in CNX Resources were worth $314,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Hodges Capital Management Inc. acquired a new position in shares of CNX Resources in the 3rd quarter valued at about $212,000. XTX Topco Ltd acquired a new position in CNX Resources in the third quarter valued at approximately $804,000. iSAM Funds UK Ltd acquired a new stake in shares of CNX Resources during the 3rd quarter worth approximately $564,000. Weiss Asset Management LP bought a new stake in shares of CNX Resources in the 3rd quarter valued at $476,000. Finally, Systematic Financial Management LP acquired a new position in shares of CNX Resources during the 3rd quarter valued at $882,000. 95.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CNX. Truist Financial lifted their price target on shares of CNX Resources from $34.00 to $35.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Capital One Financial lowered CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 price target on the stock. in a report on Monday, October 14th. Mizuho lowered CNX Resources from a “neutral” rating to an “underperform” rating and upped their target price for the stock from $33.00 to $38.00 in a research 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. Finally, BMO Capital Markets raised their price objective on shares of CNX Resources from $26.00 to $29.00 and gave the company a “market perform” rating in a research note on Friday, October 4th. Eight 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 presently has a consensus rating of “Reduce” and a consensus target price of $30.50.

CNX Resources Stock Performance

CNX stock opened at $36.69 on Wednesday. The business has a 50 day moving average of $37.47 and a 200-day moving average of $30.96. The firm has a market cap of $5.48 billion, a PE ratio of 11.54, a P/E/G ratio of 1.85 and a beta of 1.43. CNX Resources Co. has a 12-month low of $19.07 and a 12-month high of $41.93. The company has a quick ratio of 0.36, a current ratio of 0.37 and a debt-to-equity ratio of 0.46.

CNX Resources (NYSE:CNX) last announced its earnings results 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 firm 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 last year, the firm posted $0.35 EPS. As a group, sell-side analysts expect that CNX Resources Co. will post 1.54 earnings per share for the current year.

About CNX Resources

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.