Janney Montgomery Scott LLC Has $3.16 Million Stake in CNX Resources Co. (NYSE:CNX)

Janney Montgomery Scott LLC cut its stake in shares of CNX Resources Co. (NYSE:CNX - Free Report) by 12.1% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 97,117 shares of the oil and gas producer's stock after selling 13,418 shares during the period. Janney Montgomery Scott LLC owned about 0.06% of CNX Resources worth $3,163,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the stock. GAMMA Investing LLC boosted its holdings in shares of CNX Resources by 54.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer's stock worth $46,000 after buying an additional 666 shares during the period. Blue Trust Inc. boosted its stake in 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 valued at $64,000 after buying an additional 1,131 shares in the last quarter. CWM LLC grew its stake in CNX Resources by 77.0% during the third quarter. CWM LLC now owns 2,149 shares of the oil and gas producer's stock worth $70,000 after buying an additional 935 shares during the last quarter. Natixis acquired a new stake in CNX Resources during the 1st quarter valued at $79,000. Finally, Innealta Capital LLC bought a new stake in shares of CNX Resources during the second quarter worth $131,000. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CNX has been the topic of several research reports. BMO Capital Markets upped their price target on CNX Resources from $26.00 to $29.00 and gave the company a "market perform" rating in a research note on Friday, October 4th. JPMorgan Chase & Co. lowered their target price on shares of CNX Resources from $32.00 to $31.00 and set a "neutral" rating for the company in a research note on Wednesday, October 30th. Scotiabank increased their price target on CNX Resources from $25.00 to $27.00 and gave the stock a "sector underperform" rating in a report on Tuesday, August 20th. Tudor, Pickering, Holt & Co. cut shares of CNX Resources from a "hold" rating to a "sell" rating in a report on Tuesday, October 1st. Finally, Tudor Pickering raised CNX Resources to a "strong sell" rating in a research report on Tuesday, October 1st. Six equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat, CNX Resources has a consensus rating of "Hold" and a consensus target price of $29.00.

CNX Resources Price Performance

NYSE:CNX traded up $1.71 during trading hours on Monday, hitting $39.87. The company's stock had a trading volume of 2,125,811 shares, compared to its average volume of 2,715,073. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.37 and a quick ratio of 0.36. The company has a market capitalization of $5.95 billion, a P/E ratio of 12.33, a PEG ratio of 1.85 and a beta of 1.37. CNX Resources Co. has a twelve month low of $19.07 and a twelve month high of $39.97. The stock has a fifty day simple moving average of $32.54 and a 200-day simple moving average of $27.81.

CNX Resources (NYSE:CNX - Get Free Report) last issued its earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.32 by $0.09. The firm had revenue of $424.21 million for the quarter, compared to analyst estimates of $398.33 million. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. During the same quarter last year, the business posted $0.35 earnings per share. On average, analysts anticipate that CNX Resources Co. will post 1.53 EPS for the current fiscal year.

Insider Buying and Selling

In other CNX Resources news, Director Bernard Lanigan, Jr. bought 75,000 shares of the business's stock in a transaction that occurred on Monday, September 9th. The shares were acquired at an average cost of $26.81 per share, for a total transaction of $2,010,750.00. Following the transaction, the director now directly owns 401,820 shares in the company, valued at approximately $10,772,794.20. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.10% of the stock is currently owned by corporate insiders.

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.