CNX Resources Co. (NYSE:CNX) Shares Sold by Comerica Bank

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

Several other hedge funds and other institutional investors also recently bought and sold shares of CNX. Bessemer Group Inc. lifted its holdings in shares of CNX Resources by 131.5% in the 4th quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer's stock worth $34,000 after acquiring an additional 526 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in CNX Resources in the fourth quarter worth about $39,000. VSM Wealth Advisory LLC purchased a new position in shares of CNX Resources during the fourth quarter valued at approximately $55,000. Principal Securities Inc. grew its stake in shares of CNX Resources by 38.5% during the fourth quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer's stock valued at $91,000 after buying an additional 691 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of CNX Resources by 65.1% in the fourth quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer's stock worth $119,000 after buying an additional 1,280 shares during the period. Hedge funds and other institutional investors own 95.16% of the company's stock.

Analyst Upgrades and Downgrades

CNX has been the subject of a number of recent analyst reports. Mizuho boosted their target price on shares of CNX Resources from $34.00 to $35.00 and gave the company an "underperform" rating in a research note on Monday, April 7th. Bank of America lowered their price target on CNX Resources from $32.00 to $27.00 and set an "underperform" rating for the company in a report on Tuesday, April 1st. Morgan Stanley restated an "underweight" rating and set a $31.00 price objective on shares of CNX Resources in a report on Tuesday, April 15th. Cowen reiterated a "hold" rating on shares of CNX Resources in a report on Friday, April 25th. Finally, StockNews.com lowered shares of CNX Resources from a "hold" rating to a "sell" rating in a report on Thursday, February 13th. Eight research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, CNX Resources has an average rating of "Hold" and an average target price of $31.17.

CNX Resources Stock Performance

Shares of NYSE CNX traded up $0.37 during mid-day trading on Friday, hitting $31.32. The stock had a trading volume of 1,359,826 shares, compared to its average volume of 2,679,032. CNX Resources Co. has a twelve month low of $23.18 and a twelve month high of $41.93. The company has a 50 day moving average of $30.44 and a two-hundred day moving average of $32.74. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.32 and a current ratio of 0.33. The firm has a market cap of $4.53 billion, a PE ratio of -46.06, a PEG ratio of 0.42 and a beta of 0.62.

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.