Public Employees Retirement Association of Colorado trimmed its stake in shares of CNX Resources Corp (NYSE:CNX) by 19.1% in the 1st quarter, HoldingsChannel reports. The firm owned 30,899 shares of the oil and gas producer’s stock after selling 7,310 shares during the period. Public Employees Retirement Association of Colorado’s holdings in CNX Resources were worth $333,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV purchased a new stake in CNX Resources during the 1st quarter valued at approximately $152,000. Investors Research Corp purchased a new position in shares of CNX Resources during the 1st quarter worth approximately $57,000. Virtu Financial LLC raised its stake in shares of CNX Resources by 16.2% during the 1st quarter. Virtu Financial LLC now owns 17,487 shares of the oil and gas producer’s stock worth $188,000 after buying an additional 2,438 shares in the last quarter. First Citizens Bank & Trust Co. raised its stake in shares of CNX Resources by 43.6% during the 1st quarter. First Citizens Bank & Trust Co. now owns 32,073 shares of the oil and gas producer’s stock worth $345,000 after buying an additional 9,745 shares in the last quarter. Finally, MUFG Securities EMEA plc raised its stake in shares of CNX Resources by 29.1% during the 4th quarter. MUFG Securities EMEA plc now owns 195,160 shares of the oil and gas producer’s stock worth $2,229,000 after buying an additional 43,960 shares in the last quarter. 98.10% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently issued reports on CNX shares. Tudor Pickering downgraded CNX Resources from a “buy” rating to a “hold” rating in a research note on Friday, February 1st. Zacks Investment Research downgraded CNX Resources from a “buy” rating to a “hold” rating in a research note on Friday, January 25th. ValuEngine downgraded CNX Resources from a “sell” rating to a “strong sell” rating in a research note on Thursday, January 31st. TheStreet downgraded CNX Resources from a “b-” rating to a “c+” rating in a research note on Wednesday, March 6th. Finally, Susquehanna Bancshares set a $11.00 target price on CNX Resources and gave the stock a “hold” rating in a research note on Saturday, February 2nd. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. CNX Resources currently has a consensus rating of “Hold” and a consensus target price of $14.83.
CNX Resources (NYSE:CNX) last issued its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.07). The firm had revenue of $278.40 million for the quarter, compared to analyst estimates of $408.29 million. CNX Resources had a return on equity of 5.66% and a net margin of 12.00%. The business’s revenue for the quarter was down 43.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.19 earnings per share. As a group, equities research analysts forecast that CNX Resources Corp will post 0.69 earnings per share for the current fiscal year.
CNX Resources Profile
CNX Resources Corporation, an independent oil and gas company, explores for, develops, and produces natural gas primarily in the Appalachian Basin. The company operates through two divisions, Exploration and Production (E&P), and Midstream. The E&P division produces pipeline quality natural gas primarily to gas wholesalers.
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