CNX Resources Co. (NYSE:CNX) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. trimmed its holdings in CNX Resources Co. (NYSE:CNX - Free Report) by 9.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 151,368 shares of the oil and gas producer's stock after selling 15,085 shares during the quarter. Franklin Resources Inc. owned approximately 0.10% of CNX Resources worth $5,551,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. XTX Topco Ltd acquired a new stake in CNX Resources during the 3rd quarter worth approximately $804,000. M&T Bank Corp lifted its holdings in shares of CNX Resources by 25.4% during the third quarter. M&T Bank Corp now owns 18,057 shares of the oil and gas producer's stock worth $588,000 after purchasing an additional 3,663 shares during the period. Geode Capital Management LLC grew its position in CNX Resources by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,602,837 shares of the oil and gas producer's stock valued at $117,366,000 after buying an additional 12,333 shares during the last quarter. World Investment Advisors LLC acquired a new position in CNX Resources in the 3rd quarter valued at $534,000. Finally, CWA Asset Management Group LLC purchased a new position in CNX Resources during the 4th quarter worth $241,000. Hedge funds and other institutional investors own 95.16% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CNX. TD Cowen began 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 on the stock. Stephens raised CNX Resources from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $35.00 to $48.00 in a research note on Tuesday, March 18th. Roth Capital set a $30.00 price objective on CNX Resources in a report on Thursday, January 23rd. Morgan Stanley restated an "underweight" rating and set a $31.00 target price on shares of CNX Resources in a research report on Tuesday. Finally, StockNews.com downgraded shares of CNX Resources from a "hold" rating to a "sell" rating in a report on Thursday, February 13th. Eight investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $31.25.

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CNX Resources Price Performance

CNX Resources stock traded up $0.07 during mid-day trading on Tuesday, hitting $30.74. 496,145 shares of the company were exchanged, compared to its average volume of 2,667,685. 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 $22.82 and a 12-month high of $41.93. The business's 50 day simple moving average is $30.23 and its two-hundred day simple moving average is $33.29. The company has a market capitalization of $4.53 billion, a P/E ratio of -45.21, a PEG ratio of 0.42 and a beta of 1.33.

CNX Resources (NYSE:CNX - Get Free Report) last announced its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share 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%. Analysts forecast that CNX Resources Co. will post 2.18 earnings per share 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.