First Horizon Advisors Inc. Lowers Holdings in CNX Resources Co. (NYSE:CNX)

First Horizon Advisors Inc. lowered its holdings in CNX Resources Co. (NYSE:CNX) by 35.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,533 shares of the oil and gas producer’s stock after selling 828 shares during the quarter. First Horizon Advisors Inc.’s holdings in CNX Resources were worth $50,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Sequoia Financial Advisors LLC increased its position in shares of CNX Resources by 3.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 13,135 shares of the oil and gas producer’s stock worth $428,000 after purchasing an additional 442 shares during the last quarter. Pullen Investment Management LLC increased its position in shares of CNX Resources by 2.3% during the second quarter. Pullen Investment Management LLC now owns 27,399 shares of the oil and gas producer’s stock valued at $666,000 after acquiring an additional 623 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of CNX Resources by 54.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock valued at $46,000 after acquiring an additional 666 shares during the period. CWM LLC lifted its holdings in shares of CNX Resources by 77.0% in the 3rd quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock worth $70,000 after acquiring an additional 935 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its position in shares of CNX Resources by 3.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 29,307 shares of the oil and gas producer’s stock worth $712,000 after purchasing an additional 941 shares during the period. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insider Activity

In related news, Director Bernard Lanigan, Jr. bought 75,000 shares of the stock in a transaction dated Monday, September 9th. The stock was acquired at an average price of $26.81 per share, for a total transaction of $2,010,750.00. Following the acquisition, the director now owns 401,820 shares in the company, valued at approximately $10,772,794.20. This represents a 22.95 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 3.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Bank of America started coverage on CNX Resources in a research report on Monday, October 28th. They issued an “underperform” rating and a $34.00 target price on the stock. Tudor, Pickering, Holt & Co. lowered CNX Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. Stephens lifted their target price on CNX Resources from $26.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Scotiabank boosted their price target on shares of CNX Resources from $25.00 to $27.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, August 20th. Finally, Piper Sandler lowered shares of CNX Resources from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $22.00 to $20.00 in a research note on Thursday, August 15th. Six investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $29.00.

CNX Resources Stock Up 1.1 %

Shares of CNX Resources stock opened at $41.09 on Monday. 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 $41.17. The company has a market capitalization of $6.13 billion, a P/E ratio of 12.92, a P/E/G ratio of 1.97 and a beta of 1.37. The company has a 50 day moving average of $35.00 and a 200 day moving average of $28.92.

CNX Resources (NYSE:CNX) last issued its 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. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. The firm 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 posted $0.35 earnings per share. As a group, research analysts forecast that CNX Resources Co. will post 1.53 EPS for the current fiscal year.

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.