State Street Corp Lowers Holdings in CNX Resources Co. (NYSE:CNX)

State Street Corp lessened its position in CNX Resources Co. (NYSE:CNX - Free Report) by 4.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 7,977,791 shares of the oil and gas producer's stock after selling 399,972 shares during the period. State Street Corp owned approximately 5.34% of CNX Resources worth $259,837,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of CNX. Neo Ivy Capital Management bought a new position in shares of CNX Resources in the second quarter valued at $805,000. Tributary Capital Management LLC increased its holdings in CNX Resources by 0.3% during the 2nd quarter. Tributary Capital Management LLC now owns 901,940 shares of the oil and gas producer's stock worth $21,917,000 after purchasing an additional 2,535 shares in the last quarter. Pullen Investment Management LLC raised its stake in shares of CNX Resources by 2.3% in the second quarter. Pullen Investment Management LLC now owns 27,399 shares of the oil and gas producer's stock worth $666,000 after purchasing an additional 623 shares during the last quarter. Arkadios Wealth Advisors bought a new position in shares of CNX Resources in the second quarter valued at approximately $327,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of CNX Resources by 8.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,929 shares of the oil and gas producer's stock valued at $946,000 after buying an additional 3,052 shares during the last quarter. Institutional investors own 95.16% of the company's stock.

CNX Resources Price Performance

CNX traded up $1.54 on Wednesday, reaching $38.43. The company had a trading volume of 1,715,794 shares, compared to its average volume of 2,652,695. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.37. CNX Resources Co. has a 52-week low of $19.07 and a 52-week high of $41.93. The company has a market cap of $5.74 billion, a price-to-earnings ratio of 11.60, a P/E/G ratio of 1.78 and a beta of 1.43. The business has a 50 day simple moving average of $37.00 and a 200 day simple moving average of $30.17.

CNX Resources (NYSE:CNX - Get Free Report) last released its earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.09. The company had revenue of $424.21 million during the quarter, compared to the consensus estimate of $398.33 million. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. During the same quarter in the previous year, the company posted $0.35 EPS. As a group, sell-side analysts anticipate that CNX Resources Co. will post 1.53 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. BMO Capital Markets increased their target price on shares of CNX Resources from $26.00 to $29.00 and gave the company a "market perform" rating in a report on Friday, October 4th. Tudor, Pickering, Holt & Co. downgraded CNX Resources from a "hold" rating to a "sell" rating in a research note on Tuesday, October 1st. Stephens lifted their price target on shares of CNX Resources from $26.00 to $35.00 and gave the stock an "equal weight" rating in a report on Friday, October 25th. Tudor Pickering raised CNX Resources to a "strong sell" rating in a research report on Tuesday, October 1st. Finally, Bank of America initiated coverage on CNX Resources in a research report on Monday, October 28th. They set an "underperform" rating and a $34.00 price target on the stock. Seven investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus target price of $30.00.

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.