CNX Resources Co. (NYSE:CNX) Stock Position Reduced by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its stake in CNX Resources Co. (NYSE:CNX - Free Report) by 53.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 106,297 shares of the oil and gas producer's stock after selling 122,859 shares during the period. Envestnet Asset Management Inc. owned 0.07% of CNX Resources worth $3,898,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd acquired a new position in shares of CNX Resources during the fourth quarter valued at $39,000. VSM Wealth Advisory LLC acquired a new position in shares of CNX Resources during the fourth quarter valued at $55,000. Principal Securities Inc. increased its holdings 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 purchasing an additional 691 shares during the period. Blue Trust Inc. increased its holdings in shares of CNX Resources by 65.1% during the fourth quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer's stock valued at $119,000 after purchasing an additional 1,280 shares during the period. Finally, Heck Capital Advisors LLC acquired a new position in shares of CNX Resources during the fourth quarter valued at $121,000. 95.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CNX shares. Morgan Stanley reissued an "underweight" rating and set a $31.00 price target on shares of CNX Resources in a report on Tuesday, April 15th. Bank of America decreased their target price on CNX Resources from $32.00 to $27.00 and set an "underperform" rating for the company in a research note on Tuesday, April 1st. Piper Sandler decreased their target price on CNX Resources from $22.00 to $21.00 and set an "underweight" rating for the company in a research note on Tuesday, April 22nd. TD Cowen assumed coverage on CNX Resources in a research note on Wednesday, January 15th. They set a "hold" rating and a $27.00 target price for the company. Finally, Stephens raised CNX Resources from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $35.00 to $48.00 in a research note on Tuesday, March 18th. Eight equities 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, CNX Resources presently has an average rating of "Hold" and a consensus target price of $31.17.

CNX Resources Trading Up 0.6 %

Shares of NYSE:CNX traded up $0.17 during midday trading on Tuesday, reaching $29.53. The company had a trading volume of 2,110,687 shares, compared to its average volume of 2,672,861. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.32 and a current ratio of 0.33. CNX Resources Co. has a 1-year low of $22.82 and a 1-year high of $41.93. The firm has a market cap of $4.35 billion, a price-to-earnings ratio of -43.42, a price-to-earnings-growth ratio of 0.42 and a beta of 1.33. The company has a fifty day simple moving average of $30.25 and a two-hundred day simple moving average of $33.00.

CNX Resources (NYSE:CNX - Get Free Report) last released its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.14. CNX Resources had a positive return on equity of 6.72% and a negative net margin of 7.14%. Research analysts predict that CNX Resources Co. will post 2.18 earnings per share for the current year.

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.