CNX Resources Corporation. $CNX Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. reduced its stake in CNX Resources Corporation. (NYSE:CNX) by 17.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 90,772 shares of the oil and gas producer’s stock after selling 18,653 shares during the period. Envestnet Asset Management Inc. owned 0.06% of CNX Resources worth $3,057,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Ameritas Advisory Services LLC bought a new stake in shares of CNX Resources in the 2nd quarter worth approximately $32,000. Public Employees Retirement System of Ohio acquired a new stake in CNX Resources in the second quarter worth $115,000. CWM LLC increased its position in CNX Resources by 26.0% in the second quarter. CWM LLC now owns 3,405 shares of the oil and gas producer’s stock worth $115,000 after buying an additional 703 shares during the period. GAMMA Investing LLC lifted its stake in CNX Resources by 11.5% in the second quarter. GAMMA Investing LLC now owns 3,760 shares of the oil and gas producer’s stock valued at $127,000 after buying an additional 389 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in shares of CNX Resources by 30.9% during the second quarter. Farther Finance Advisors LLC now owns 3,838 shares of the oil and gas producer’s stock valued at $129,000 after acquiring an additional 907 shares during the period. 95.16% of the stock is owned by institutional investors.

CNX Resources Stock Performance

CNX opened at $36.76 on Friday. The business has a 50 day moving average price of $32.54 and a two-hundred day moving average price of $31.79. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.33 and a quick ratio of 0.30. The company has a market capitalization of $4.96 billion, a price-to-earnings ratio of 62.31, a price-to-earnings-growth ratio of 0.35 and a beta of 0.56. CNX Resources Corporation. has a 1-year low of $27.00 and a 1-year high of $41.93.

CNX Resources (NYSE:CNX) last posted its quarterly earnings data on Thursday, October 30th. The oil and gas producer reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.09. CNX Resources had a return on equity of 8.93% and a net margin of 9.70%.The company had revenue of $423.00 million for the quarter, compared to the consensus estimate of $408.80 million. The business’s quarterly revenue was up 37.6% compared to the same quarter last year. Research analysts predict that CNX Resources Corporation. will post 2.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CNX shares. Piper Sandler dropped their price objective on shares of CNX Resources from $26.00 to $24.00 and set an “underweight” rating on the stock in a report on Thursday, August 14th. Barclays raised their price target on shares of CNX Resources from $32.00 to $34.00 and gave the company an “equal weight” rating in a research note on Friday, October 31st. Scotiabank boosted their price objective on CNX Resources from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 9th. Siebert Williams Shank started coverage on CNX Resources in a report on Monday, September 15th. They issued a “hold” rating and a $32.00 price objective for the company. Finally, Morgan Stanley cut their target price on CNX Resources from $32.00 to $31.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 14th. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $32.67.

CNX Resources Company 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.