Natixis Sells 16,402 Shares of CNX Resources Co. (NYSE:CNX)

Natixis reduced its position in shares of CNX Resources Co. (NYSE:CNX - Free Report) by 83.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,318 shares of the oil and gas producer's stock after selling 16,402 shares during the quarter. Natixis' holdings in CNX Resources were worth $122,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. MetLife Investment Management LLC lifted its position in shares of CNX Resources by 5.5% in the 4th quarter. MetLife Investment Management LLC now owns 168,910 shares of the oil and gas producer's stock worth $6,194,000 after purchasing an additional 8,875 shares during the period. Capital Research Global Investors lifted its stake in shares of CNX Resources by 31.8% in the 4th quarter. Capital Research Global Investors now owns 1,450,000 shares of the oil and gas producer's stock valued at $53,172,000 after purchasing an additional 350,000 shares during the period. First Trust Advisors LP grew its stake in CNX Resources by 12.0% in the fourth quarter. First Trust Advisors LP now owns 645,591 shares of the oil and gas producer's stock worth $23,674,000 after purchasing an additional 69,280 shares during the period. EAM Investors LLC bought a new position in CNX Resources in the fourth quarter worth $4,651,000. Finally, Bridgewater Associates LP bought a new stake in shares of CNX Resources during the 4th quarter valued at $13,430,000. Institutional investors own 95.16% of the company's stock.

CNX Resources Stock Performance

CNX Resources stock traded up $0.17 during midday trading on Tuesday, reaching $29.53. 2,110,687 shares of the company traded hands, compared to its average volume of 2,673,238. 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 firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of -43.42, a price-to-earnings-growth ratio of 0.42 and a beta of 1.33. The business has a 50 day moving average of $30.25 and a two-hundred day moving average of $33.02.

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, topping analysts' consensus estimates 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, research analysts predict that CNX Resources Co. will post 2.18 earnings per share for the current year.

Analysts Set New Price Targets

CNX has been the topic of several research reports. Morgan Stanley reissued an "underweight" rating and set a $31.00 price objective on shares of CNX Resources in a research note on Tuesday, April 15th. JPMorgan Chase & Co. boosted their price target on CNX Resources from $32.00 to $33.00 and gave the stock an "underweight" rating in a research report on Thursday, March 13th. Cowen reaffirmed a "hold" rating on shares of CNX Resources in a research report on Friday. Piper Sandler dropped their target price on CNX Resources from $22.00 to $21.00 and set an "underweight" rating on the stock in a report on Tuesday, April 22nd. Finally, Scotiabank upgraded CNX Resources from a "sector underperform" rating to a "sector perform" rating and set a $33.00 price target for the company in a report on Friday, April 11th. Eight analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $31.17.

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.