Rhumbline Advisers lifted its position in shares of CNX Resources Corp (NYSE:CNX) by 1.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 362,571 shares of the oil and gas producer’s stock after acquiring an additional 3,508 shares during the quarter. Rhumbline Advisers’ holdings in CNX Resources were worth $5,188,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Marshall Wace LLP purchased a new stake in shares of CNX Resources during the 2nd quarter worth about $5,345,000. Prudential Financial Inc. boosted its stake in shares of CNX Resources by 19.4% during the 3rd quarter. Prudential Financial Inc. now owns 2,193,423 shares of the oil and gas producer’s stock worth $31,389,000 after acquiring an additional 356,452 shares in the last quarter. Retirement Systems of Alabama boosted its stake in shares of CNX Resources by 8.4% during the 3rd quarter. Retirement Systems of Alabama now owns 275,186 shares of the oil and gas producer’s stock worth $3,938,000 after acquiring an additional 21,232 shares in the last quarter. James Investment Research Inc. purchased a new stake in shares of CNX Resources during the 3rd quarter worth about $2,172,000. Finally, Strs Ohio boosted its stake in shares of CNX Resources by 22.7% during the 3rd quarter. Strs Ohio now owns 20,682 shares of the oil and gas producer’s stock worth $295,000 after acquiring an additional 3,828 shares in the last quarter. 98.11% of the stock is currently owned by institutional investors and hedge funds.
CNX opened at $13.53 on Friday. CNX Resources Corp has a twelve month low of $11.69 and a twelve month high of $18.37. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.59 and a quick ratio of 0.57. The stock has a market cap of $2.78 billion, a P/E ratio of 16.42 and a beta of 0.70.
CNX Resources (NYSE:CNX) last released its quarterly earnings results on Tuesday, October 30th. The oil and gas producer reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.02). CNX Resources had a return on equity of 3.73% and a net margin of 54.81%. The company had revenue of $397.10 million for the quarter, compared to analyst estimates of $376.23 million. During the same quarter last year, the company earned ($0.11) EPS. The firm’s revenue for the quarter was up 38.3% on a year-over-year basis. On average, sell-side analysts expect that CNX Resources Corp will post 0.97 earnings per share for the current fiscal year.
CNX has been the topic of several recent analyst reports. Raymond James reissued a “sell” rating on shares of CNX Resources in a research note on Thursday, August 30th. Goldman Sachs Group lowered shares of CNX Resources from a “neutral” rating to a “sell” rating and set a $14.00 target price on the stock. in a research note on Tuesday, September 11th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of CNX Resources from a “hold” rating to a “strong-buy” rating and set a $17.00 price target for the company in a research report on Wednesday, September 19th. ValuEngine downgraded shares of CNX Resources from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 27th. Finally, TheStreet upgraded shares of CNX Resources from a “d+” rating to a “b” rating in a research report on Tuesday, October 30th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $17.67.
About CNX Resources
CNX Resources Corporation, an independent oil and natural gas company, explores for, develops, and produces natural gas in the Appalachian Basin. As of December 31, 2017, it had 7.6 trillion cubic feet equivalent of proved natural gas reserves. The company also owns, operates, and develops natural gas gathering and other midstream energy assets in the Marcellus Shale in Pennsylvania and West Virginia.
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