World Investment Advisors LLC Takes $534,000 Position in CNX Resources Co. (NYSE:CNX)

World Investment Advisors LLC bought a new stake in shares of CNX Resources Co. (NYSE:CNX - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 16,383 shares of the oil and gas producer's stock, valued at approximately $534,000.

Other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in CNX Resources by 12.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,860,817 shares of the oil and gas producer's stock worth $60,607,000 after acquiring an additional 202,890 shares during the last quarter. Bridges Investment Management Inc. purchased a new stake in CNX Resources in the 2nd quarter worth about $916,000. Paralel Advisors LLC purchased a new stake in CNX Resources in the 2nd quarter worth about $2,338,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in CNX Resources by 311.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 616,734 shares of the oil and gas producer's stock worth $20,087,000 after acquiring an additional 466,694 shares during the last quarter. Finally, Choreo LLC purchased a new stake in CNX Resources in the 2nd quarter worth about $701,000. 95.16% of the stock is owned by hedge funds and other institutional investors.

CNX Resources Price Performance

Shares of NYSE CNX traded down $1.34 during trading hours on Wednesday, reaching $35.20. 3,379,216 shares of the stock traded hands, compared to its average volume of 2,649,990. The company has a market capitalization of $5.25 billion, a P/E ratio of 11.07, a price-to-earnings-growth ratio of 1.85 and a beta of 1.43. The company has a quick ratio of 0.36, a current ratio of 0.37 and a debt-to-equity ratio of 0.46. CNX Resources Co. has a 52-week low of $19.07 and a 52-week high of $41.93. The company's 50-day simple moving average is $37.38 and its two-hundred day simple moving average is $30.63.

CNX Resources (NYSE:CNX - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.32 by $0.09. The business had revenue of $424.21 million for the quarter, compared to analysts' expectations of $398.33 million. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. During the same period in the previous year, the firm earned $0.35 EPS. Equities research analysts forecast that CNX Resources Co. will post 1.54 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on CNX. JPMorgan Chase & Co. lowered CNX Resources from a "neutral" rating to an "underweight" rating and lifted their price objective for the stock from $31.00 to $37.00 in a report on Thursday, December 5th. Tudor, Pickering, Holt & Co. downgraded CNX Resources from a "hold" rating to a "sell" rating in a research note on Tuesday, October 1st. Mizuho downgraded CNX Resources from a "neutral" rating to an "underperform" rating and raised their target price for the stock from $33.00 to $38.00 in a research note on Monday. BMO Capital Markets raised their target price on CNX Resources from $26.00 to $29.00 and gave the stock a "market perform" rating in a research note on Friday, October 4th. Finally, Tudor Pickering upgraded CNX Resources to a "strong sell" rating in a research report on Tuesday, October 1st. Eight equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat, CNX Resources presently has an average rating of "Reduce" and an average price target of $30.50.

About CNX Resources

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.