LPL Financial LLC Sells 13,706 Shares of CNX Resources Co. (NYSE:CNX)

LPL Financial LLC lessened its stake in shares of CNX Resources Co. (NYSE:CNX - Free Report) by 13.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 84,734 shares of the oil and gas producer's stock after selling 13,706 shares during the period. LPL Financial LLC owned about 0.06% of CNX Resources worth $3,107,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. M&T Bank Corp raised its holdings in CNX Resources by 25.4% during the 3rd quarter. M&T Bank Corp now owns 18,057 shares of the oil and gas producer's stock valued at $588,000 after acquiring an additional 3,663 shares during the period. Geode Capital Management LLC lifted its position in CNX Resources by 0.3% during the third quarter. Geode Capital Management LLC now owns 3,602,837 shares of the oil and gas producer's stock valued at $117,366,000 after purchasing an additional 12,333 shares during the last quarter. World Investment Advisors LLC bought a new position in shares of CNX Resources in the 3rd quarter worth $534,000. CWA Asset Management Group LLC bought a new stake in shares of CNX Resources during the 4th quarter worth $241,000. Finally, Empirical Asset Management LLC purchased a new position in CNX Resources in the fourth quarter worth $9,281,000. Institutional investors own 95.16% of the company's stock.

CNX Resources Stock Performance

NYSE:CNX traded up $0.24 during mid-day trading on Thursday, reaching $31.12. The company's stock had a trading volume of 338,554 shares, compared to its average volume of 3,142,681. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 0.45. The firm's fifty day moving average price is $30.30 and its two-hundred day moving average price is $33.26. CNX Resources Co. has a 12-month low of $22.82 and a 12-month high of $41.93. The stock has a market cap of $4.58 billion, a P/E ratio of -45.76, a PEG ratio of 0.42 and a beta of 1.33.

CNX Resources (NYSE:CNX - Get Free Report) last announced its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share 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%. On average, equities analysts forecast that CNX Resources Co. will post 2.18 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on CNX shares. StockNews.com cut shares of CNX Resources from a "hold" rating to a "sell" rating in a research report on Thursday, February 13th. Raymond James raised CNX Resources from an "underperform" rating to a "market perform" rating in a research note on Tuesday, February 18th. Morgan Stanley restated an "underweight" rating and set a $31.00 price target on shares of CNX Resources in a research report on Tuesday. Scotiabank raised CNX Resources from a "sector underperform" rating to a "sector perform" rating and set a $33.00 price objective for the company in a research note on Friday, April 11th. Finally, JPMorgan Chase & Co. upped their price target on shares of CNX Resources from $32.00 to $33.00 and gave the company an "underweight" rating in a report on Thursday, March 13th. Eight analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price 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.