Raymond James Financial Inc. Acquires Shares of 389,117 CNX Resources Co. (NYSE:CNX)

Raymond James Financial Inc. purchased a new position in CNX Resources Co. (NYSE:CNX - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 389,117 shares of the oil and gas producer's stock, valued at approximately $14,268,000. Raymond James Financial Inc. owned 0.26% of CNX Resources as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership bought a new stake in shares of CNX Resources in the fourth quarter worth $37,923,000. Empirical Asset Management LLC bought a new position in shares of CNX Resources in the 4th quarter worth approximately $9,281,000. ExodusPoint Capital Management LP bought a new stake in CNX Resources during the fourth quarter valued at approximately $8,072,000. Empowered Funds LLC raised its position in CNX Resources by 328.0% in the fourth quarter. Empowered Funds LLC now owns 211,719 shares of the oil and gas producer's stock worth $7,764,000 after acquiring an additional 162,247 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of CNX Resources by 7.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,000,464 shares of the oil and gas producer's stock worth $73,357,000 after purchasing an additional 139,647 shares in the last quarter. Institutional investors own 95.16% of the company's stock.

CNX Resources Stock Up 1.0 %

NYSE:CNX traded up $0.30 during midday trading on Wednesday, reaching $30.59. The company had a trading volume of 2,267,852 shares, compared to its average volume of 2,674,334. The stock's fifty day simple moving average is $30.33 and its 200-day simple moving average is $33.17. The firm has a market capitalization of $4.50 billion, a price-to-earnings ratio of -44.98, a PEG ratio of 0.42 and a beta of 1.33. CNX Resources Co. has a 12-month low of $22.82 and a 12-month high of $41.93. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 0.45.

CNX Resources (NYSE:CNX - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts anticipate that CNX Resources Co. will post 2.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Roth Capital set a $30.00 target price on CNX Resources in a research report on Thursday, January 23rd. Mizuho upped their target price on shares of CNX Resources from $34.00 to $35.00 and gave the company an "underperform" rating in a research report on Monday, April 7th. Stephens upgraded shares of CNX Resources from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $35.00 to $48.00 in a report on Tuesday, March 18th. Raymond James upgraded shares of CNX Resources from an "underperform" rating to a "market perform" rating in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of CNX Resources from $32.00 to $33.00 and gave the company an "underweight" rating in a report on Thursday, March 13th. Eight equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, CNX Resources currently has a consensus rating of "Hold" and a consensus price target of $31.17.

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.