Mutual of America Capital Management LLC Reduces Holdings in CNX Resources Co. (NYSE:CNX)

Mutual of America Capital Management LLC lessened its position in shares of CNX Resources Co. (NYSE:CNXFree Report) by 6.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 81,732 shares of the oil and gas producer’s stock after selling 6,008 shares during the quarter. Mutual of America Capital Management LLC owned about 0.05% of CNX Resources worth $2,662,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. QRG Capital Management Inc. increased its stake in CNX Resources by 13.8% during the second quarter. QRG Capital Management Inc. now owns 190,498 shares of the oil and gas producer’s stock worth $4,629,000 after acquiring an additional 23,069 shares during the last quarter. Boston Partners acquired a new stake in shares of CNX Resources during the 1st quarter worth about $951,000. Caxton Associates LP purchased a new stake in CNX Resources in the 1st quarter valued at about $710,000. Bridges Investment Management Inc. acquired a new position in CNX Resources in the second quarter valued at about $916,000. Finally, Paralel Advisors LLC purchased a new position in CNX Resources during the second quarter worth about $2,338,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on CNX. BMO Capital Markets boosted their price target on shares of CNX Resources from $26.00 to $29.00 and gave the company a “market perform” rating in a research note on Friday, October 4th. Bank of America assumed coverage on shares of CNX Resources in a report on Monday, October 28th. They issued an “underperform” rating and a $34.00 target price for the company. Tudor, Pickering, Holt & Co. cut CNX Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. Stephens lifted their price objective on CNX Resources from $26.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Finally, Capital One Financial downgraded CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 price objective on the stock. in a report on Monday, October 14th. Six research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat, CNX Resources presently has a consensus rating of “Hold” and a consensus price target of $29.00.

Check Out Our Latest Research Report on CNX

CNX Resources Stock Performance

Shares of CNX opened at $41.09 on Friday. The stock has a 50-day simple moving average of $35.00 and a 200-day simple moving average of $28.88. 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 1 year low of $19.07 and a 1 year high of $41.17. The stock has a market capitalization of $6.13 billion, a PE ratio of 12.92, a PEG ratio of 1.97 and a beta of 1.37.

CNX Resources (NYSE:CNXGet Free Report) last issued its quarterly earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.09. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. The company had revenue of $424.21 million during the quarter, compared to the consensus estimate of $398.33 million. During the same quarter in the previous year, the firm earned $0.35 earnings per share. On average, analysts predict that CNX Resources Co. will post 1.53 earnings per share for the current fiscal year.

Insider Activity at CNX Resources

In other CNX Resources news, Director Bernard Lanigan, Jr. bought 75,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was purchased at an average price of $26.81 per share, for a total transaction of $2,010,750.00. Following the completion of the purchase, the director now directly owns 401,820 shares in the company, valued at $10,772,794.20. This trade represents a 22.95 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.10% of the stock is currently owned by corporate insiders.

CNX Resources Profile

(Free Report)

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.

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Institutional Ownership by Quarter for CNX Resources (NYSE:CNX)

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