Citigroup Inc. Cuts Holdings in CNX Resources Co. (NYSE:CNX)

Citigroup Inc. lowered its position in CNX Resources Co. (NYSE:CNX - Free Report) by 31.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 457,399 shares of the oil and gas producer's stock after selling 208,519 shares during the period. Citigroup Inc. owned about 0.31% of CNX Resources worth $14,897,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its holdings in CNX Resources by 5.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 112,259 shares of the oil and gas producer's stock worth $2,663,000 after purchasing an additional 5,975 shares during the last quarter. Boston Partners purchased a new position in CNX Resources during the first quarter worth about $951,000. GAMMA Investing LLC boosted its holdings in CNX Resources by 54.1% during the second quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer's stock worth $46,000 after purchasing an additional 666 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in CNX Resources by 13.8% during the second quarter. QRG Capital Management Inc. now owns 190,498 shares of the oil and gas producer's stock worth $4,629,000 after purchasing an additional 23,069 shares during the last quarter. Finally, Friedenthal Financial purchased a new position in CNX Resources during the second quarter worth about $749,000. 95.16% of the stock is owned by institutional investors.

CNX Resources Stock Performance

Shares of NYSE CNX traded down $0.44 during midday trading on Thursday, hitting $40.34. The company's stock had a trading volume of 1,048,483 shares, compared to its average volume of 2,686,576. The stock has a fifty day moving average price of $35.71 and a 200 day moving average price of $29.24. CNX Resources Co. has a one year low of $19.07 and a one year high of $41.93. The company has a current ratio of 0.37, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $6.02 billion, a price-to-earnings ratio of 12.69, a P/E/G ratio of 1.95 and a beta of 1.37.

CNX Resources (NYSE:CNX - Get Free Report) last posted its quarterly 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. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. The company had revenue of $424.21 million for the quarter, compared to analyst estimates of $398.33 million. During the same quarter in the previous year, the firm posted $0.35 earnings per share. On average, research analysts forecast that CNX Resources Co. will post 1.53 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Bank of America assumed coverage on shares of CNX Resources in a report on Monday, October 28th. They set an "underperform" rating and a $34.00 price target on the stock. BMO Capital Markets boosted their price target on shares of CNX Resources from $26.00 to $29.00 and gave the stock a "market perform" rating in a report on Friday, October 4th. Capital One Financial lowered shares of CNX Resources from an "overweight" rating to an "equal weight" rating and set a $25.00 price objective on the stock. in a research report on Monday, October 14th. JPMorgan Chase & Co. lowered their price objective on shares of CNX Resources from $32.00 to $31.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 30th. Finally, Truist Financial lowered shares of CNX Resources from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $38.00 to $34.00 in a research report on Monday, October 28th. Six investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat.com, CNX Resources currently has a consensus rating of "Hold" and an average target price of $29.00.

Insider Buying and Selling

In other news, Director Bernard Lanigan, Jr. bought 75,000 shares of the firm's stock in a transaction that occurred on Monday, September 9th. The shares were acquired at an average price of $26.81 per share, with a total value of $2,010,750.00. Following the acquisition, the director now owns 401,820 shares of the company's stock, valued at approximately $10,772,794.20. The trade was a 22.95 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 4.65% of the stock is currently owned by insiders.

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.