Teachers Retirement System of The State of Kentucky lessened its stake in CNX Resources Corp (NYSE:CNX) by 12.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,639 shares of the oil and gas producer’s stock after selling 5,100 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in CNX Resources were worth $524,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the business. JPMorgan Chase & Co. grew its position in shares of CNX Resources by 117.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,371,423 shares of the oil and gas producer’s stock valued at $33,935,000 after acquiring an additional 1,280,314 shares during the period. Dimensional Fund Advisors LP grew its position in shares of CNX Resources by 4.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 15,624,816 shares of the oil and gas producer’s stock valued at $277,803,000 after acquiring an additional 686,988 shares during the period. First Trust Advisors LP bought a new stake in shares of CNX Resources during the 2nd quarter valued at $10,494,000. Prudential Financial Inc. grew its position 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 valued at $31,389,000 after acquiring an additional 356,452 shares during the period. Finally, Marshall Wace LLP bought a new stake in shares of CNX Resources during the 2nd quarter valued at $5,345,000. 98.11% of the stock is owned by institutional investors and hedge funds.
CNX opened at $13.53 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.57 and a current ratio of 0.59. CNX Resources Corp has a fifty-two week low of $11.69 and a fifty-two week high of $18.37. The firm has a market cap of $2.78 billion, a P/E ratio of -84.56 and a beta of 0.70.
CNX Resources (NYSE:CNX) last released its earnings results on Tuesday, October 30th. The oil and gas producer reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). CNX Resources had a net margin of 54.81% and a return on equity of 3.73%. The firm had revenue of $397.10 million for the quarter, compared to analysts’ expectations of $376.23 million. During the same quarter last year, the firm posted ($0.11) EPS. The firm’s quarterly revenue was up 38.3% compared to the same quarter last year. As a group, equities analysts expect that CNX Resources Corp will post 0.97 earnings per share for the current year.
A number of brokerages have recently issued reports on CNX. Raymond James reissued a “sell” rating on shares of CNX Resources in a research report on Thursday, August 30th. TheStreet raised shares of CNX Resources from a “d+” rating to a “b” rating in a research report on Tuesday, October 30th. Goldman Sachs Group downgraded shares of CNX Resources from a “neutral” rating to a “sell” rating and set a $14.00 price objective for the company. in a research report on Tuesday, September 11th. They noted that the move was a valuation call. Zacks Investment Research raised shares of CNX Resources from a “hold” rating to a “strong-buy” rating and set a $17.00 price objective for the company in a research report on Wednesday, September 19th. Finally, ValuEngine raised shares of CNX Resources from a “strong sell” rating to a “sell” rating in a research report on Friday, October 12th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $17.67.
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CNX Resources Profile
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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