Alberta Investment Management Corp Decreases Stock Holdings in CNX Resources Corporation. $CNX

Alberta Investment Management Corp cut its holdings in CNX Resources Corporation. (NYSE:CNX) by 99.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,100 shares of the oil and gas producer’s stock after selling 14,500,900 shares during the quarter. Alberta Investment Management Corp owned approximately 0.05% of CNX Resources worth $2,529,000 at the end of the most recent quarter.

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

CNX Resources Trading Down 0.1%

Shares of CNX Resources stock opened at $36.76 on Monday. The business has a fifty day simple moving average of $32.54 and a 200-day simple moving average of $31.81. CNX Resources Corporation. has a fifty-two week low of $27.00 and a fifty-two week high of $41.93. The firm has a market cap 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. The company has a quick ratio of 0.30, a current ratio of 0.33 and a debt-to-equity ratio of 0.56.

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

Analyst Ratings Changes

CNX has been the topic of several research reports. 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 report on Friday, October 31st. Weiss Ratings reissued a “hold (c)” rating on shares of CNX Resources in a research note on Tuesday, November 11th. Morgan Stanley decreased their price target on shares of CNX Resources from $32.00 to $31.00 and set an “underweight” rating for the company in a research report on Tuesday, October 14th. Siebert Williams Shank assumed coverage on CNX Resources in a report on Monday, September 15th. They issued a “hold” rating and a $32.00 price target for the company. Finally, Zacks Research upgraded CNX Resources from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. One research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, CNX Resources presently has a consensus rating of “Reduce” and a consensus price target of $32.67.

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.