BNP Paribas Financial Markets Reduces Holdings in CNX Resources Co. (NYSE:CNX)

BNP Paribas Financial Markets lessened its stake in CNX Resources Co. (NYSE:CNX - Free Report) by 30.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 72,810 shares of the oil and gas producer's stock after selling 31,551 shares during the period. BNP Paribas Financial Markets' holdings in CNX Resources were worth $2,670,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Kapitalo Investimentos Ltda acquired a new stake in shares of CNX Resources in the 4th quarter valued at about $232,000. Northern Trust Corp raised its position in CNX Resources by 20.5% in the 4th quarter. Northern Trust Corp now owns 2,421,387 shares of the oil and gas producer's stock valued at $88,792,000 after buying an additional 411,485 shares during the last quarter. Aquatic Capital Management LLC lifted its stake in CNX Resources by 15.9% during the 4th quarter. Aquatic Capital Management LLC now owns 223,971 shares of the oil and gas producer's stock valued at $8,213,000 after acquiring an additional 30,771 shares in the last quarter. Three Seasons Wealth LLC bought a new position in CNX Resources during the 4th quarter valued at $820,000. Finally, Pinebridge Investments L.P. boosted its holdings in CNX Resources by 42.2% during the 4th quarter. Pinebridge Investments L.P. now owns 56,445 shares of the oil and gas producer's stock worth $2,070,000 after acquiring an additional 16,745 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company's stock.

Insider Buying and Selling

In other news, Director J. Palmer Clarkson bought 10,000 shares of the stock in a transaction dated Monday, May 12th. The stock was purchased at an average cost of $31.20 per share, for a total transaction of $312,000.00. Following the transaction, the director now owns 245,433 shares of the company's stock, valued at $7,657,509.60. The trade was a 4.25% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.10% of the stock is owned by company insiders.

CNX Resources Price Performance

CNX stock traded down $0.38 during midday trading on Wednesday, hitting $31.90. The company's stock had a trading volume of 136,253 shares, compared to its average volume of 2,661,137. The company has a quick ratio of 0.32, a current ratio of 0.33 and a debt-to-equity ratio of 0.45. CNX Resources Co. has a 12 month low of $23.63 and a 12 month high of $41.93. The company has a 50 day moving average of $30.81 and a two-hundred day moving average of $32.60. The firm has a market capitalization of $4.62 billion, a price-to-earnings ratio of -46.97, a price-to-earnings-growth ratio of 0.42 and a beta of 0.62.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of CNX Resources from $32.00 to $33.00 and gave the company an "underweight" rating in a research report on Thursday, March 13th. Cowen reiterated a "hold" rating on shares of CNX Resources in a research note on Friday, April 25th. Mizuho lifted their price target on shares of CNX Resources from $35.00 to $36.00 and gave the stock an "underperform" rating in a report on Tuesday, May 13th. Bank of America dropped their price objective on CNX Resources from $32.00 to $27.00 and set an "underperform" rating on the stock in a research note on Tuesday, April 1st. Finally, Roth Capital set a $30.00 price objective on CNX Resources in a report on Thursday, January 23rd. Eight research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $31.58.

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.