LMR Partners LLP Sells 11,005 Shares of CNX Resources Co. (NYSE:CNX)

LMR Partners LLP lowered its holdings in shares of CNX Resources Co. (NYSE:CNX) by 56.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 8,480 shares of the oil and gas producer’s stock after selling 11,005 shares during the period. LMR Partners LLP’s holdings in CNX Resources were worth $276,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. QRG Capital Management Inc. boosted its position in CNX Resources by 13.8% during the 2nd quarter. QRG Capital Management Inc. now owns 190,498 shares of the oil and gas producer’s stock valued at $4,629,000 after buying an additional 23,069 shares during the period. Boston Partners purchased a new stake in CNX Resources during the 1st quarter valued at $951,000. Caxton Associates LP purchased a new stake in CNX Resources during the 1st quarter valued at $710,000. Bridges Investment Management Inc. purchased a new stake in CNX Resources during the 2nd quarter valued at $916,000. Finally, Paralel Advisors LLC purchased a new stake in CNX Resources during the 2nd quarter valued at $2,338,000. Institutional investors own 95.16% of the company’s stock.

Wall Street Analyst Weigh In

CNX has been the subject of several research analyst reports. Scotiabank raised their target price on shares of CNX Resources from $25.00 to $27.00 and gave the stock a “sector underperform” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. dropped their target price on shares of CNX Resources from $32.00 to $31.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Tudor Pickering raised shares of CNX Resources to a “strong sell” rating in a research report on Tuesday, October 1st. Stephens raised their target price on shares of CNX Resources from $26.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Finally, Tudor, Pickering, Holt & Co. cut shares of CNX Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Six research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat, CNX Resources presently has an average rating of “Hold” and a consensus price target of $29.00.

Insiders Place Their Bets

In other news, Director Bernard Lanigan, Jr. purchased 75,000 shares of the company’s stock in a transaction on Monday, September 9th. The stock was acquired at an average cost of $26.81 per share, for a total transaction of $2,010,750.00. Following the completion of the transaction, the director now directly owns 401,820 shares in the company, valued at $10,772,794.20. This trade represents a 22.95 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 4.65% of the company’s stock.

CNX Resources Stock Performance

Shares of CNX stock opened at $40.12 on Thursday. The company has a 50 day moving average price of $34.45 and a 200-day moving average price of $28.65. CNX Resources Co. has a 52 week low of $19.07 and a 52 week high of $40.17. The firm has a market capitalization of $5.99 billion, a PE ratio of 12.62, a P/E/G ratio of 1.85 and a beta of 1.37. The company has a quick ratio of 0.36, a current ratio of 0.37 and a debt-to-equity ratio of 0.46.

CNX Resources (NYSE:CNX) last announced its earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.09. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. The business had revenue of $424.21 million during the quarter, compared to analysts’ expectations of $398.33 million. During the same period in the prior year, the company earned $0.35 earnings per share. As a group, equities research analysts expect that CNX Resources Co. will post 1.53 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.