Janney Montgomery Scott LLC Sells 23,406 Shares of CNX Resources Co. (NYSE:CNX)

Janney Montgomery Scott LLC lessened its holdings in shares of CNX Resources Co. (NYSE:CNX - Free Report) by 24.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 73,711 shares of the oil and gas producer's stock after selling 23,406 shares during the period. Janney Montgomery Scott LLC's holdings in CNX Resources were worth $2,703,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Blue Trust Inc. raised its position in shares of CNX Resources by 135.4% in the 3rd quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer's stock worth $64,000 after acquiring an additional 1,131 shares in the last quarter. CWM LLC increased its holdings in CNX Resources by 77.0% in the third quarter. CWM LLC now owns 2,149 shares of the oil and gas producer's stock worth $70,000 after purchasing an additional 935 shares in the last quarter. GAMMA Investing LLC increased its holdings in CNX Resources by 62.1% in the third quarter. GAMMA Investing LLC now owns 3,073 shares of the oil and gas producer's stock worth $100,000 after purchasing an additional 1,177 shares in the last quarter. Atomi Financial Group Inc. acquired a new position in CNX Resources in the third quarter valued at approximately $202,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of CNX Resources during the 3rd quarter worth approximately $205,000. 95.16% of the stock is owned by institutional investors and hedge funds.

CNX Resources Stock Up 3.1 %

NYSE:CNX traded up $0.86 during trading hours on Tuesday, hitting $28.46. 4,324,514 shares of the company traded hands, compared to its average volume of 4,372,191. The company has a quick ratio of 0.32, a current ratio of 0.33 and a debt-to-equity ratio of 0.45. The company has a market cap of $4.25 billion, a PE ratio of -41.84, a PEG ratio of 0.36 and a beta of 1.38. The firm's 50-day simple moving average is $33.85 and its 200-day simple moving average is $32.27. CNX Resources Co. has a one year low of $19.07 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 for the quarter, beating analysts' consensus estimates 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 analysts predict that CNX Resources Co. will post 2.36 earnings per share for the current year.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CNX shares. Mizuho dropped their target price on shares of CNX Resources from $38.00 to $34.00 and set an "underperform" rating on the stock in a research report on Tuesday, January 14th. StockNews.com raised shares of CNX Resources from a "sell" rating to a "hold" rating in a research report on Monday. Bank of America started coverage on CNX Resources in a research report on Monday, October 28th. They issued an "underperform" rating and a $34.00 target price for the company. Stephens increased their price target on CNX Resources from $26.00 to $35.00 and gave the stock an "equal weight" rating in a report on Friday, October 25th. Finally, Capital One Financial downgraded CNX Resources from an "overweight" rating to an "equal weight" rating and set a $25.00 price objective for the company. in a report on Monday, October 14th. Eight research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat, CNX Resources has an average rating of "Reduce" and a consensus price target of $29.67.

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.