Raymond James Financial Inc. Trims Stock Position in CNX Resources Corporation. $CNX

Key Points

• Raymond James Financial Inc. reduced its stake in CNX Resources by 8.2%, selling 31,809 shares, and now holds approximately 0.25% of the company's shares valued at $11.2 million.
• Several institutional investors have adjusted their positions in CNX Resources, with 95.16% of the company's stock now owned by these investors.
• Analysts have mixed ratings on CNX Resources, with one Buy rating, eight Hold ratings, and seven Sell ratings, resulting in an average consensus price target of $31.77.

Raymond James Financial Inc. decreased its holdings in shares of CNX Resources Corporation. (NYSE:CNX - Free Report) by 8.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 357,308 shares of the oil and gas producer's stock after selling 31,809 shares during the period. Raymond James Financial Inc. owned about 0.25% of CNX Resources worth $11,248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Fox Run Management L.L.C. lifted its position in shares of CNX Resources by 2.7% during the 1st quarter. Fox Run Management L.L.C. now owns 16,317 shares of the oil and gas producer's stock valued at $514,000 after buying an additional 432 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in CNX Resources by 4.6% in the 1st quarter. Russell Investments Group Ltd. now owns 72,022 shares of the oil and gas producer's stock valued at $2,268,000 after purchasing an additional 3,171 shares in the last quarter. HighTower Advisors LLC boosted its stake in CNX Resources by 59.7% during the 1st quarter. HighTower Advisors LLC now owns 46,592 shares of the oil and gas producer's stock worth $1,467,000 after purchasing an additional 17,424 shares during the last quarter. Nuveen LLC acquired a new stake in CNX Resources during the 1st quarter worth $35,567,000. Finally, Aigen Investment Management LP purchased a new stake in shares of CNX Resources during the first quarter worth $387,000. Hedge funds and other institutional investors own 95.16% of the company's stock.

CNX Resources Stock Down 0.7%

Shares of CNX Resources stock traded down $0.20 during trading on Thursday, hitting $29.30. 441,349 shares of the stock were exchanged, compared to its average volume of 2,568,229. The firm's 50-day moving average price is $30.87 and its 200 day moving average price is $30.99. The stock has a market cap of $4.14 billion, a price-to-earnings ratio of 49.64, a price-to-earnings-growth ratio of 0.26 and a beta of 0.60. CNX Resources Corporation. has a 12-month low of $26.50 and a 12-month high of $41.93. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.33 and a quick ratio of 0.30.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CNX. TD Cowen raised shares of CNX Resources to a "hold" rating in a report on Monday, July 7th. Barclays began coverage on shares of CNX Resources in a report on Monday, July 7th. They set an "equal weight" rating and a $33.00 target price for the company. Scotiabank reaffirmed a "sector perform" rating and set a $35.00 target price (up previously from $33.00) on shares of CNX Resources in a report on Friday, July 11th. Mizuho upped their target price 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. Finally, Piper Sandler dropped their target price on shares of CNX Resources from $26.00 to $24.00 and set an "underweight" rating for the company in a report on Thursday, August 14th. One equities research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and seven have given a Sell rating to the company. According to data from MarketBeat, CNX Resources presently has an average rating of "Reduce" and an average target price of $31.77.

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.