HighTower Advisors LLC Trims Holdings in CNX Resources Co. (NYSE:CNX)

HighTower Advisors LLC reduced its holdings in shares of CNX Resources Co. (NYSE:CNX) by 8.0% in the third quarter, HoldingsChannel reports. The fund owned 27,289 shares of the oil and gas producer’s stock after selling 2,358 shares during the period. HighTower Advisors LLC’s holdings in CNX Resources were worth $891,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Blue Trust Inc. lifted its holdings in shares of CNX Resources by 135.4% during the third quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer’s stock valued at $64,000 after purchasing an additional 1,131 shares during the last quarter. CWM LLC increased its position in CNX Resources by 77.0% during the 3rd quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock valued at $70,000 after buying an additional 935 shares in the last quarter. GAMMA Investing LLC raised its stake in CNX Resources by 62.1% during the third quarter. GAMMA Investing LLC now owns 3,073 shares of the oil and gas producer’s stock valued at $100,000 after buying an additional 1,177 shares during the last quarter. Innealta Capital LLC bought a new stake in CNX Resources in the second quarter worth $131,000. Finally, Atomi Financial Group Inc. purchased a new stake in shares of CNX Resources in the third quarter worth $202,000. Institutional investors own 95.16% of the company’s stock.

CNX Resources Stock Performance

Shares of CNX opened at $36.53 on Wednesday. CNX Resources Co. has a one year low of $19.07 and a one year high of $41.93. The business has a fifty day moving average of $37.36 and a 200 day moving average of $30.60. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.37 and a quick ratio of 0.36. The firm has a market capitalization of $5.45 billion, a P/E ratio of 11.49, a PEG ratio of 1.85 and a beta of 1.43.

CNX Resources (NYSE:CNX) last released its quarterly earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $398.33 million. During the same quarter in the prior year, the firm earned $0.35 EPS. As a group, sell-side analysts anticipate that CNX Resources Co. will post 1.54 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Mizuho cut shares of CNX Resources from a “neutral” rating to an “underperform” rating and upped their price target for the stock from $33.00 to $38.00 in a research note on Monday. Piper Sandler upped their target price on shares of CNX Resources from $20.00 to $23.00 and gave the stock an “underweight” rating in a research note on Friday, December 6th. Stephens raised their price target on shares of CNX Resources from $26.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Bank of America initiated coverage on CNX Resources in a research report on Monday, October 28th. They issued an “underperform” rating and a $34.00 price objective on the stock. Finally, Tudor Pickering raised CNX Resources to a “strong sell” rating in a report on Tuesday, October 1st. Eight research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $30.50.

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.