DAVENPORT & Co LLC Decreases Stock Holdings in CNX Resources Co. (NYSE:CNX)

DAVENPORT & Co LLC lowered its holdings in shares of CNX Resources Co. (NYSE:CNX - Free Report) by 32.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 412,523 shares of the oil and gas producer's stock after selling 198,553 shares during the period. DAVENPORT & Co LLC owned 0.28% of CNX Resources worth $15,127,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in CNX. SeaBridge Investment Advisors LLC boosted its holdings in shares of CNX Resources by 0.8% in the 4th quarter. SeaBridge Investment Advisors LLC now owns 90,301 shares of the oil and gas producer's stock valued at $3,311,000 after purchasing an additional 759 shares in the last quarter. Heck Capital Advisors LLC acquired a new position in CNX Resources during the 4th quarter worth about $121,000. Stonegate Investment Group LLC bought a new position in CNX Resources during the 4th quarter worth approximately $232,000. KBC Group NV lifted its holdings in CNX Resources by 41.0% in the fourth quarter. KBC Group NV now owns 6,216 shares of the oil and gas producer's stock valued at $228,000 after buying an additional 1,806 shares during the period. Finally, Blue Trust Inc. grew its stake in CNX Resources by 65.1% during the fourth quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer's stock worth $119,000 after purchasing an additional 1,280 shares during the period. 95.16% of the stock is owned by institutional investors and hedge funds.

CNX Resources Trading Up 0.5 %

CNX Resources stock traded up $0.13 during trading hours on Thursday, reaching $29.13. The company had a trading volume of 5,320,060 shares, compared to its average volume of 4,387,777. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32. CNX Resources Co. has a 12-month low of $19.07 and a 12-month high of $41.93. The company has a 50-day moving average price of $33.40 and a 200 day moving average price of $32.23. The firm has a market cap of $4.35 billion, a price-to-earnings ratio of -42.84, a P/E/G ratio of 0.36 and a beta of 1.38.

CNX Resources (NYSE:CNX - Get Free Report) last released its quarterly earnings results 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 positive return on equity of 6.72% and a negative net margin of 7.14%. Equities analysts forecast that CNX Resources Co. will post 2.36 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on CNX. TD Cowen started coverage on shares of CNX Resources in a research note on Wednesday, January 15th. They set a "hold" rating and a $27.00 price target for the company. StockNews.com upgraded shares of CNX Resources from a "sell" rating to a "hold" rating in a report on Monday. Morgan Stanley started coverage on CNX Resources in a report on Friday, January 10th. They issued an "underweight" rating and a $29.00 price objective for the company. JPMorgan Chase & Co. downgraded CNX Resources from a "neutral" rating to an "underweight" rating and increased their target price for the stock from $31.00 to $37.00 in a research report on Thursday, December 5th. Finally, 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 research note on Friday, October 25th. Eight investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat, CNX Resources has an average rating of "Reduce" and a consensus target price of $29.67.

Insiders Place Their Bets

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the business's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $31.09, for a total value of $33,421,750.00. Following the sale, the insider now directly owns 13,925,000 shares of the company's stock, valued at approximately $432,928,250. The trade was a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 4.65% of the company's stock.

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.