Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its holdings in shares of CNX Resources Corp (NYSE:CNX) by 18.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 43,287 shares of the oil and gas producer’s stock after selling 9,650 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in CNX Resources were worth $619,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. WINTON GROUP Ltd purchased a new position in shares of CNX Resources in the 3rd quarter worth $162,000. First Citizens Bank & Trust Co. purchased a new position in shares of CNX Resources in the 3rd quarter worth $237,000. Strs Ohio raised its position in shares of CNX Resources by 22.7% in the 3rd quarter. Strs Ohio now owns 20,682 shares of the oil and gas producer’s stock worth $295,000 after buying an additional 3,828 shares during the period. Oakbrook Investments LLC purchased a new position in shares of CNX Resources in the 3rd quarter worth $386,000. Finally, Barings LLC purchased a new position in shares of CNX Resources in the 3rd quarter worth $392,000. 98.11% of the stock is currently owned by institutional investors.
Several research analysts recently weighed in on the company. Zacks Investment Research lowered CNX Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. TheStreet raised CNX Resources from a “d+” rating to a “b” rating in a research report on Tuesday, October 30th. ValuEngine lowered CNX Resources from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 27th. Goldman Sachs Group lowered CNX Resources from a “neutral” rating to a “sell” rating and set a $14.00 target price on the stock. in a research report on Tuesday, September 11th. They noted that the move was a valuation call. Finally, MKM Partners assumed coverage on CNX Resources in a research report on Wednesday. They issued a “buy” rating and a $19.00 target price on the stock. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. CNX Resources currently has a consensus rating of “Hold” and an average price target of $17.67.
CNX Resources (NYSE:CNX) last announced its quarterly earnings results on Tuesday, October 30th. The oil and gas producer reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.02). CNX Resources had a net margin of 54.81% and a return on equity of 3.73%. The company had revenue of $397.10 million during the quarter, compared to analyst estimates of $376.23 million. During the same quarter in the prior year, the company posted ($0.11) earnings per share. The firm’s revenue for the quarter was up 38.3% on a year-over-year basis. On average, analysts forecast that CNX Resources Corp will post 0.97 earnings per share for the current year.
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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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