Assetmark Inc. Reduces Stock Position in CNX Resources Co. (NYSE:CNX)

Assetmark Inc. lowered its position in CNX Resources Co. (NYSE:CNX - Free Report) by 4.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 866,120 shares of the oil and gas producer's stock after selling 41,910 shares during the period. Assetmark Inc. owned about 0.58% of CNX Resources worth $28,210,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of CNX Resources by 54.1% in the second quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer's stock worth $46,000 after buying an additional 666 shares during the last quarter. Blue Trust Inc. grew its position 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 acquiring an additional 1,131 shares during the period. CWM LLC grew its position in shares of CNX Resources by 77.0% during the 3rd quarter. CWM LLC now owns 2,149 shares of the oil and gas producer's stock valued at $70,000 after acquiring an additional 935 shares during the period. Natixis purchased a new stake in shares of CNX Resources in the 1st quarter worth $79,000. Finally, Innealta Capital LLC bought a new position in CNX Resources in the 2nd quarter worth $131,000. Hedge funds and other institutional investors own 95.16% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on CNX shares. Tudor, Pickering, Holt & Co. lowered CNX Resources from a "hold" rating to a "sell" rating in a report on Tuesday, October 1st. Tudor Pickering upgraded CNX Resources to a "strong sell" rating in a research note on Tuesday, October 1st. Stephens increased their target price on shares of CNX Resources from $26.00 to $35.00 and gave the stock an "equal weight" rating in a report on Friday, October 25th. Scotiabank lifted their price target on shares of CNX Resources from $25.00 to $27.00 and gave the company a "sector underperform" rating in a report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of CNX Resources from $32.00 to $31.00 and set a "neutral" rating for the company in a research note on Wednesday, October 30th. Six analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat.com, CNX Resources has a consensus rating of "Hold" and an average price target of $29.00.

Insider Transactions at CNX Resources

In related news, Director Bernard Lanigan, Jr. bought 75,000 shares of the company's stock in a transaction dated Monday, September 9th. The stock was purchased at an average price of $26.81 per share, for a total transaction of $2,010,750.00. Following the acquisition, the director now owns 401,820 shares in the company, valued at $10,772,794.20. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.10% of the company's stock.

CNX Resources Price Performance

Shares of CNX Resources stock traded up $0.36 during trading on Friday, reaching $38.16. 2,276,577 shares of the stock traded hands, compared to its average volume of 2,760,793. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.37 and a quick ratio of 0.36. The company has a market capitalization of $5.70 billion, a price-to-earnings ratio of 12.00, a P/E/G ratio of 1.79 and a beta of 1.37. CNX Resources Co. has a 52-week low of $19.07 and a 52-week high of $38.81. The business has a fifty day simple moving average of $32.54 and a two-hundred day simple moving average of $27.81.

CNX Resources (NYSE:CNX - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share 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 analysts' expectations of $398.33 million. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. During the same quarter last year, the business posted $0.35 EPS. Sell-side analysts expect that CNX Resources Co. will post 1.53 EPS for the current 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.