Comerica Bank Cuts Position in CNX Resources Co. (NYSE:CNX)

Comerica Bank lessened its holdings in shares of CNX Resources Co. (NYSE:CNX - Free Report) by 11.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 93,761 shares of the oil and gas producer's stock after selling 11,964 shares during the quarter. Comerica Bank owned approximately 0.06% of CNX Resources worth $3,438,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Kapitalo Investimentos Ltda purchased a new stake in CNX Resources during the 4th quarter valued at about $232,000. Northern Trust Corp increased its holdings in shares of CNX Resources by 20.5% in the fourth quarter. Northern Trust Corp now owns 2,421,387 shares of the oil and gas producer's stock valued at $88,792,000 after purchasing an additional 411,485 shares during the last quarter. Aquatic Capital Management LLC increased its holdings in shares of CNX Resources by 15.9% in the fourth quarter. Aquatic Capital Management LLC now owns 223,971 shares of the oil and gas producer's stock valued at $8,213,000 after purchasing an additional 30,771 shares during the last quarter. Three Seasons Wealth LLC purchased a new position in CNX Resources during the fourth quarter worth approximately $820,000. Finally, Pinebridge Investments L.P. boosted its stake in CNX Resources by 42.2% during the fourth quarter. Pinebridge Investments L.P. now owns 56,445 shares of the oil and gas producer's stock worth $2,070,000 after buying an additional 16,745 shares during the last quarter. Hedge funds and other institutional investors own 95.16% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CNX. Mizuho boosted their price target on shares of CNX Resources from $34.00 to $35.00 and gave the company an "underperform" rating in a research report on Monday, April 7th. Cowen reiterated a "hold" rating on shares of CNX Resources in a report on Friday, April 25th. Scotiabank upgraded shares of CNX Resources from a "sector underperform" rating to a "sector perform" rating and set a $33.00 price target for the company in a report on Friday, April 11th. StockNews.com cut CNX Resources from a "hold" rating to a "sell" rating in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. increased their price objective on CNX Resources from $32.00 to $33.00 and gave the stock an "underweight" rating in a research report on Thursday, March 13th. Eight equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $31.17.

CNX Resources Stock Down 1.4%

Shares of CNX stock traded down $0.43 during trading on Monday, reaching $30.90. The company's stock had a trading volume of 404,536 shares, compared to its average volume of 2,670,106. CNX Resources Co. has a 1-year low of $23.18 and a 1-year high of $41.93. The stock's 50-day moving average price is $30.44 and its 200 day moving average price is $32.71. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of -45.47, a P/E/G ratio of 0.42 and a beta of 0.62. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32.

CNX Resources Profile

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.