Atria Investments Inc Cuts Stake in CNX Resources Co. (NYSE:CNX)

Atria Investments Inc lessened its holdings in shares of CNX Resources Co. (NYSE:CNX) by 9.2% in the third quarter, Holdings Channel reports. The firm owned 11,376 shares of the oil and gas producer’s stock after selling 1,157 shares during the period. Atria Investments Inc’s holdings in CNX Resources were worth $371,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. State Board of Administration of Florida Retirement System grew its position in CNX Resources by 35.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 62,847 shares of the oil and gas producer’s stock valued at $1,491,000 after acquiring an additional 16,290 shares in the last quarter. Natixis acquired a new stake in CNX Resources in the first quarter valued at approximately $79,000. Price T Rowe Associates Inc. MD grew its position in CNX Resources by 5.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 112,259 shares of the oil and gas producer’s stock valued at $2,663,000 after acquiring an additional 5,975 shares in the last quarter. Paloma Partners Management Co acquired a new stake in CNX Resources in the first quarter valued at approximately $229,000. Finally, Caxton Associates LP acquired a new stake in shares of CNX Resources during the first quarter worth approximately $710,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on CNX. Tudor, Pickering, Holt & Co. lowered shares of CNX Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. Scotiabank lifted their price target on shares of CNX Resources from $25.00 to $27.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, August 20th. Tudor Pickering upgraded shares of CNX Resources to a “strong sell” rating in a research note on Tuesday, October 1st. Mizuho lifted their price target on shares of CNX Resources from $32.00 to $33.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Finally, JPMorgan Chase & Co. dropped their price target on shares of CNX Resources from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Six investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $29.00.

Insider Activity

In related news, Director Bernard Lanigan, Jr. acquired 75,000 shares of CNX Resources stock in a transaction that occurred on Monday, September 9th. The stock was acquired at an average price of $26.81 per share, with a total value of $2,010,750.00. Following the completion of the acquisition, the director now directly owns 401,820 shares of the company’s stock, valued at $10,772,794.20. This trade represents a 22.95 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.10% of the company’s stock.

CNX Resources Stock Performance

Shares of CNX opened at $40.67 on Friday. CNX Resources Co. has a 1 year low of $19.07 and a 1 year high of $41.07. The company has a market cap of $6.07 billion, a price-to-earnings ratio of 12.79, a price-to-earnings-growth ratio of 1.90 and a beta of 1.37. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.37. The firm has a fifty day moving average of $34.72 and a 200-day moving average of $28.73.

CNX Resources (NYSE:CNX) last announced its quarterly earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.09. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. The company had revenue of $424.21 million during the quarter, compared to the consensus estimate of $398.33 million. During the same quarter in the previous year, the company posted $0.35 earnings per share. As a group, equities analysts anticipate that CNX Resources Co. will post 1.53 earnings per share for the current year.

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.