Raymond James & Associates Has $3.04 Million Stake in CNX Resources Co. (NYSE:CNX)

Raymond James & Associates trimmed its position in shares of CNX Resources Co. (NYSE:CNX – Get Rating) by 2.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 195,744 shares of the oil and gas producer’s stock after selling 4,515 shares during the quarter. Raymond James & Associates’ holdings in CNX Resources were worth $3,040,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Private Trust Co. NA bought a new position in shares of CNX Resources in the 2nd quarter valued at approximately $26,000. First Horizon Advisors Inc. bought a new position in shares of CNX Resources in the 2nd quarter valued at approximately $41,000. Gladius Capital Management LP bought a new position in shares of CNX Resources in the 2nd quarter valued at approximately $49,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of CNX Resources by 128.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,854 shares of the oil and gas producer’s stock valued at $80,000 after acquiring an additional 2,728 shares in the last quarter. Finally, Islay Capital Management LLC bought a new position in shares of CNX Resources in the 2nd quarter valued at approximately $96,000. 93.66% of the stock is currently owned by institutional investors and hedge funds.

CNX Resources Price Performance

Shares of CNX stock opened at $16.54 on Friday. The stock’s fifty day simple moving average is $16.86 and its 200 day simple moving average is $17.03. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.32 and a quick ratio of 0.31. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of -4.30, a P/E/G ratio of 0.31 and a beta of 1.25. CNX Resources Co. has a one year low of $14.11 and a one year high of $24.21.

CNX Resources (NYSE:CNX – Get Rating) last announced its quarterly earnings results on Thursday, October 27th. The oil and gas producer reported ($0.54) EPS for the quarter, missing the consensus estimate of $0.72 by ($1.26). The company had revenue of $476.00 million during the quarter, compared to analyst estimates of $549.08 million. CNX Resources had a negative net margin of 29.81% and a positive return on equity of 9.68%. On average, analysts expect that CNX Resources Co. will post 1.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CNX. Piper Sandler cut their price objective on CNX Resources to $19.00 in a research note on Friday, November 4th. StockNews.com initiated coverage on CNX Resources in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Truist Financial dropped their price target on CNX Resources from $20.00 to $18.00 and set a “hold” rating on the stock in a research report on Friday, October 28th. Finally, Mizuho began coverage on CNX Resources in a research report on Monday, January 9th. They issued an “underperform” rating and a $19.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $21.86.

CNX Resources Profile

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CNX Resources Corporation, an independent natural gas and midstream company, acquires, explores for, develops, and produces natural gas properties in the Appalachian Basin. The company operates in two segments, Shale and Coalbed Methane. It produces and sells pipeline quality natural gas primarily for gas wholesalers.