Stifel Financial Corp Sells 4,459 Shares of CNX Resources Co. (NYSE:CNX)

Stifel Financial Corp lessened its holdings in shares of CNX Resources Co. (NYSE:CNX) by 18.2% during the third quarter, Holdings Channel.com reports. The firm owned 20,024 shares of the oil and gas producer’s stock after selling 4,459 shares during the quarter. Stifel Financial Corp’s holdings in CNX Resources were worth $652,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CNX. Systematic Financial Management LP acquired a new stake in CNX Resources during the 3rd quarter worth about $882,000. Quadrature Capital Ltd bought a new stake in shares of CNX Resources during the third quarter valued at approximately $649,000. RBF Capital LLC acquired a new position in CNX Resources during the third quarter worth $814,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of CNX Resources in the 3rd quarter worth about $209,000. Finally, Hilltop Holdings Inc. acquired a new position in CNX Resources during the 3rd quarter valued at about $238,000. Institutional investors own 95.16% of the company’s stock.

Wall Street Analysts Forecast Growth

CNX has been the subject of a number of recent analyst reports. Truist Financial upped their price objective on shares of CNX Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Bank of America started coverage on CNX Resources in a report on Monday, October 28th. They set an “underperform” rating and a $34.00 price objective for the company. Piper Sandler boosted their price target on shares of CNX Resources from $20.00 to $23.00 and gave the company an “underweight” rating in a research report on Friday, December 6th. BMO Capital Markets increased their price objective on CNX Resources from $26.00 to $29.00 and gave the stock a “market perform” rating in a report on Friday, October 4th. Finally, Stephens raised their price target on shares of CNX Resources from $26.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Eight analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat, CNX Resources has a consensus rating of “Reduce” and a consensus price target of $30.50.

CNX Resources Trading Up 1.2 %

NYSE:CNX opened at $36.69 on Thursday. The company has a market cap of $5.48 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 1.85 and a beta of 1.43. The company has a current ratio of 0.37, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46. CNX Resources Co. has a 12 month low of $19.07 and a 12 month high of $41.93. The company has a 50 day simple moving average of $37.49 and a two-hundred day simple moving average of $31.00.

CNX Resources (NYSE:CNX) last announced its 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 analyst estimates of $398.33 million. During the same period in the previous year, the business posted $0.35 earnings per share. Research analysts forecast that CNX Resources Co. will post 1.54 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.