Janney Montgomery Scott LLC Decreases Stock Position in CNX Resources Co. (NYSE:CNX)

Janney Montgomery Scott LLC reduced its stake in CNX Resources Co. (NYSE:CNX) by 24.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,711 shares of the oil and gas producer’s stock after selling 23,406 shares during the quarter. Janney Montgomery Scott LLC’s holdings in CNX Resources were worth $2,703,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CNX. Blue Trust Inc. grew its stake in shares of CNX Resources by 135.4% during the 3rd quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer’s stock valued at $64,000 after buying an additional 1,131 shares during the period. CWM LLC lifted its position in shares of CNX Resources by 77.0% during the third quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock worth $70,000 after purchasing an additional 935 shares during the last quarter. GAMMA Investing LLC boosted its holdings 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 during the period. Atomi Financial Group Inc. acquired a new stake in shares of CNX Resources during the 3rd quarter worth approximately $202,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of CNX Resources during the 3rd quarter worth approximately $205,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CNX shares. BMO Capital Markets raised their target price on CNX Resources from $26.00 to $29.00 and gave the company a “market perform” rating in a research note on Friday, October 4th. Morgan Stanley assumed coverage on shares of CNX Resources in a research report on Friday, January 10th. They issued an “underweight” rating and a $29.00 target price for the company. TD Cowen assumed coverage on CNX Resources in a report on Wednesday, January 15th. They issued a “hold” rating and a $27.00 price objective for the company. 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. Finally, Stephens increased their price target on CNX Resources from $26.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Nine analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $29.67.

Insiders Place Their Bets

In other news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of CNX Resources stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $31.09, for a total transaction of $33,421,750.00. Following the sale, the insider now owns 13,925,000 shares of the company’s stock, valued at approximately $432,928,250. This trade represents a 7.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.10% of the company’s stock.

CNX Resources Stock Down 0.3 %

CNX opened at $27.41 on Friday. The company has a market capitalization of $4.09 billion, a PE ratio of 8.62, a price-to-earnings-growth ratio of 0.37 and a beta of 1.42. The business has a 50-day moving average of $34.35 and a 200-day moving average of $32.16. CNX Resources Co. has a fifty-two week low of $19.07 and a fifty-two week high of $41.93. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.37 and a quick ratio of 0.36.

CNX Resources (NYSE:CNX) last issued its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.14. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. Equities research analysts forecast that CNX Resources Co. will post 1.6 EPS for the current fiscal year.

CNX Resources Company 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.