Guggenheim Capital LLC Trims Stock Holdings in CNX Resources Co. (NYSE:CNX)

Guggenheim Capital LLC decreased its stake in CNX Resources Co. (NYSE:CNX – Get Rating) by 0.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,919 shares of the oil and gas producer’s stock after selling 665 shares during the quarter. Guggenheim Capital LLC’s holdings in CNX Resources were worth $1,381,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CNX. Private Trust Co. NA purchased a new stake in CNX Resources in the second quarter worth about $26,000. Sentry Investment Management LLC purchased a new stake in CNX Resources in the third quarter worth about $43,000. Gladius Capital Management LP purchased a new stake in shares of CNX Resources during the second quarter worth about $49,000. IFP Advisors Inc grew its position in shares of CNX Resources by 119.2% during the third quarter. IFP Advisors Inc now owns 2,889 shares of the oil and gas producer’s stock worth $52,000 after purchasing an additional 1,571 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of CNX Resources by 128.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,854 shares of the oil and gas producer’s stock worth $80,000 after purchasing an additional 2,728 shares in the last quarter. Hedge funds and other institutional investors own 93.66% of the company’s stock.

CNX Resources Stock Performance

Shares of CNX stock opened at $16.32 on Monday. The stock has a market cap of $2.78 billion, a PE ratio of -15.25, a price-to-earnings-growth ratio of 0.37 and a beta of 1.32. The business has a 50-day simple moving average of $16.18 and a 200-day simple moving average of $16.80. The company has a quick ratio of 0.42, a current ratio of 0.44 and a debt-to-equity ratio of 0.75. CNX Resources Co. has a 52-week low of $14.55 and a 52-week high of $24.21.

CNX Resources (NYSE:CNX – Get Rating) last issued its quarterly earnings data on Thursday, January 26th. The oil and gas producer reported $5.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $5.11. CNX Resources had a positive return on equity of 21.25% and a negative net margin of 5.36%. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $510.19 million. During the same quarter in the previous year, the firm posted $0.31 EPS. The company’s revenue for the quarter was up 26.8% on a year-over-year basis. On average, equities analysts expect that CNX Resources Co. will post 2.14 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CNX. Mizuho began coverage on CNX Resources in a research report on Monday, January 9th. They set an “underperform” rating and a $19.00 target price for the company. StockNews.com cut CNX Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, February 7th. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $21.86.

CNX Resources Profile

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CNX Resources Corp. engages in the exploration, development, production, and acquisition of natural gas properties in the Appalachian Basin. It operates through the following segments: Shale, Coalbed Methane, and Other Gas. The Shale segment refers to primary reserves, production, and capital investments.