Envestnet Asset Management Inc. Has $3.90 Million Position in CNX Resources Co. (NYSE:CNX)

Envestnet Asset Management Inc. decreased its stake in shares of CNX Resources Co. (NYSE:CNX - Free Report) by 53.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 106,297 shares of the oil and gas producer's stock after selling 122,859 shares during the period. Envestnet Asset Management Inc. owned 0.07% of CNX Resources worth $3,898,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Congress Asset Management Co. grew its position in CNX Resources by 7.2% during the fourth quarter. Congress Asset Management Co. now owns 266,447 shares of the oil and gas producer's stock worth $9,771,000 after buying an additional 17,951 shares in the last quarter. World Investment Advisors LLC bought a new position in shares of CNX Resources during the 3rd quarter worth about $534,000. Convergence Investment Partners LLC acquired a new stake in shares of CNX Resources during the 4th quarter valued at about $1,556,000. Charles Schwab Investment Management Inc. raised its holdings in shares of CNX Resources by 7.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,000,464 shares of the oil and gas producer's stock worth $73,357,000 after buying an additional 139,647 shares in the last quarter. Finally, Wakefield Asset Management LLLP acquired a new stake in shares of CNX Resources in the 4th quarter valued at $1,047,000. 95.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Mizuho increased their price target on CNX Resources from $34.00 to $35.00 and gave the stock an "underperform" rating in a research report on Monday, April 7th. Scotiabank upgraded CNX Resources from a "sector underperform" rating to a "sector perform" rating and set a $33.00 target price for the company in a research note on Friday, April 11th. Morgan Stanley reiterated an "underweight" rating and set a $31.00 price target on shares of CNX Resources in a research report on Tuesday, April 15th. StockNews.com cut shares of CNX Resources from a "hold" rating to a "sell" rating in a research report on Thursday, February 13th. Finally, TD Cowen assumed coverage on shares of CNX Resources in a research report on Wednesday, January 15th. They set a "hold" rating and a $27.00 target price on the stock. Eight research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, CNX Resources has a consensus rating of "Hold" and an average target price of $31.17.

CNX Resources Stock Performance

CNX stock traded down $0.11 during midday trading on Friday, reaching $28.95. 3,306,583 shares of the company were exchanged, compared to its average volume of 2,675,286. The business has a 50-day moving average price of $30.27 and a two-hundred day moving average price of $33.08. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32. The firm has a market capitalization of $4.26 billion, a price-to-earnings ratio of -42.57, a price-to-earnings-growth ratio of 0.42 and a beta of 1.33. CNX Resources Co. has a one year low of $22.82 and a one year high of $41.93.

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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.14. CNX Resources had a negative net margin of 7.14% and a positive return on equity of 6.72%. Equities research analysts forecast that CNX Resources Co. will post 2.18 EPS for the current year.

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.