Guggenheim Capital LLC Sells 70,784 Shares of CNX Resources Co. (NYSE:CNX)

Guggenheim Capital LLC cut its holdings in CNX Resources Co. (NYSE:CNX - Free Report) by 78.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,908 shares of the oil and gas producer's stock after selling 70,784 shares during the period. Guggenheim Capital LLC's holdings in CNX Resources were worth $730,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Bessemer Group Inc. boosted its stake in shares of CNX Resources by 131.5% during the fourth quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer's stock valued at $34,000 after purchasing an additional 526 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in shares of CNX Resources in the fourth quarter valued at about $39,000. VSM Wealth Advisory LLC purchased a new position in shares of CNX Resources in the fourth quarter valued at about $55,000. Principal Securities Inc. raised its stake in shares of CNX Resources by 38.5% during the fourth quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer's stock valued at $91,000 after acquiring an additional 691 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of 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. Hedge funds and other institutional investors own 95.16% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CNX. Bank of America reduced their price objective on shares of CNX Resources from $32.00 to $27.00 and set an "underperform" rating on the stock in a research report on Tuesday, April 1st. Raymond James raised shares of CNX Resources from an "underperform" rating to a "market perform" rating in a research note on Tuesday, February 18th. TD Cowen started coverage on CNX Resources in a research report on Wednesday, January 15th. They set a "hold" rating and a $27.00 price objective on the stock. Morgan Stanley reissued an "underweight" rating and issued a $31.00 target price on shares of CNX Resources in a research report on Tuesday, April 15th. Finally, StockNews.com lowered CNX Resources from a "hold" rating to a "sell" rating in a research report on Thursday, February 13th. Eight 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.com, CNX Resources presently has a consensus rating of "Hold" and a consensus price target of $31.17.

CNX Resources Stock Down 0.4 %

Shares of CNX traded down $0.11 on Friday, hitting $28.95. 3,306,583 shares of the stock traded hands, compared to its average volume of 2,675,286. CNX Resources Co. has a one year low of $22.82 and a one year high of $41.93. The company has a market capitalization of $4.26 billion, a PE ratio of -42.57, a P/E/G ratio of 0.42 and a beta of 1.33. The business has a 50 day simple moving average of $30.27 and a 200 day simple moving average of $33.07. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.32 and a current ratio of 0.33.

CNX Resources (NYSE:CNX - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share for the quarter, topping the consensus estimate 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%. As a group, equities 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.