Franklin Resources Inc. Trims Stake in CNX Resources Co. (NYSE:CNX)

Franklin Resources Inc. lessened its stake in CNX Resources Co. (NYSE:CNX - Free Report) by 9.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 151,368 shares of the oil and gas producer's stock after selling 15,085 shares during the quarter. Franklin Resources Inc. owned approximately 0.10% of CNX Resources worth $5,551,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Harvest Fund Management Co. Ltd purchased a new position in CNX Resources in the 4th quarter valued at approximately $39,000. VSM Wealth Advisory LLC purchased a new position in CNX Resources during the 4th quarter valued at about $55,000. Principal Securities Inc. lifted its holdings in shares of CNX Resources by 38.5% in the fourth quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer's stock worth $91,000 after buying an additional 691 shares in the last quarter. Blue Trust Inc. boosted its position 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 valued at $119,000 after acquiring an additional 1,280 shares during the period. Finally, Heck Capital Advisors LLC purchased a new position in CNX Resources during the fourth quarter valued at approximately $121,000. Hedge funds and other institutional investors own 95.16% of the company's stock.

CNX Resources Trading Up 1.2 %

CNX Resources stock traded up $0.36 during trading hours on Wednesday, reaching $31.20. The company had a trading volume of 223,735 shares, compared to its average volume of 2,660,502. 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 Co. has a 12-month low of $22.82 and a 12-month high of $41.93. The firm has a market cap of $4.59 billion, a price-to-earnings ratio of -45.84, a P/E/G ratio of 0.42 and a beta of 1.33. The company has a 50-day moving average price of $30.27 and a 200 day moving average price of $33.28.

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on CNX. TD Cowen began coverage on shares of CNX Resources in a research report on Wednesday, January 15th. They set a "hold" rating and a $27.00 price target for the company. Morgan Stanley reaffirmed an "underweight" rating and issued a $31.00 price target on shares of CNX Resources in a report on Tuesday. Mizuho boosted their price objective on CNX Resources from $34.00 to $35.00 and gave the stock an "underperform" rating in a report on Monday, April 7th. Stephens upgraded shares of CNX Resources from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $35.00 to $48.00 in a research report on Tuesday, March 18th. Finally, Piper Sandler cut their price target on shares of CNX Resources from $23.00 to $22.00 and set an "underweight" rating for the company in a research note on Wednesday, January 29th. Eight analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $31.25.

CNX Resources Company 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.