CNX Resources Co. (NYSE:CNX) Shares Sold by Pitcairn Co.

Pitcairn Co. decreased its stake in CNX Resources Co. (NYSE:CNX - Free Report) by 51.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,702 shares of the oil and gas producer's stock after selling 11,530 shares during the quarter. Pitcairn Co.'s holdings in CNX Resources were worth $392,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Harvest Fund Management Co. Ltd purchased a new stake in shares of CNX Resources during the fourth quarter worth approximately $39,000. VSM Wealth Advisory LLC acquired a new stake in CNX Resources during the 4th quarter worth $55,000. Principal Securities Inc. raised its position in shares of CNX Resources by 38.5% in the fourth quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer's stock valued at $91,000 after buying an additional 691 shares during the last quarter. Blue Trust Inc. raised its position in shares of CNX Resources by 65.1% in the fourth quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer's stock valued at $119,000 after buying an additional 1,280 shares during the last quarter. Finally, Heck Capital Advisors LLC acquired a new position in shares of CNX Resources during the 4th quarter worth approximately $121,000. Hedge funds and other institutional investors own 95.16% of the company's stock.

CNX Resources Stock Up 5.7 %

Shares of NYSE CNX traded up $1.64 during midday trading on Friday, hitting $30.60. 3,622,622 shares of the company's stock were exchanged, compared to its average volume of 2,676,627. The company has a market cap of $4.50 billion, a PE ratio of -45.00, a P/E/G ratio of 0.42 and a beta of 1.33. CNX Resources Co. has a twelve month low of $22.82 and a twelve month high of $41.93. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32. The firm's fifty day simple moving average is $30.20 and its 200-day simple moving average is $33.28.

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CNX Resources (NYSE:CNX - Get Free Report) last issued its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share (EPS) 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%. Research analysts predict that CNX Resources Co. will post 2.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Scotiabank upgraded shares of CNX Resources from a "sector underperform" rating to a "sector perform" rating and set a $33.00 price objective for the company in a research report on Friday. Roth Capital set a $30.00 price target on shares of CNX Resources in a research report on Thursday, January 23rd. TD Cowen began coverage on CNX Resources in a research note on Wednesday, January 15th. They issued a "hold" rating and a $27.00 price objective for the company. Stephens upgraded CNX Resources from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $35.00 to $48.00 in a report on Tuesday, March 18th. Finally, Morgan Stanley set a $33.00 price target on shares of CNX Resources and gave the stock an "underweight" rating in a research note on Wednesday, March 26th. Eight analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $31.42.

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.