Citigroup Inc. Sells 208,519 Shares of CNX Resources Co. (NYSE:CNX)

Citigroup Inc. reduced its holdings in shares of CNX Resources Co. (NYSE:CNX) by 31.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 457,399 shares of the oil and gas producer’s stock after selling 208,519 shares during the period. Citigroup Inc. owned about 0.31% of CNX Resources worth $14,897,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CNX. GAMMA Investing LLC boosted its stake in shares of CNX Resources by 54.1% during the second quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock valued at $46,000 after purchasing an additional 666 shares during the period. Blue Trust Inc. lifted its stake in CNX Resources by 135.4% in the third quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer’s stock worth $64,000 after acquiring an additional 1,131 shares during the period. CWM LLC lifted its stake in CNX Resources by 77.0% in the third quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock worth $70,000 after acquiring an additional 935 shares during the period. Innealta Capital LLC purchased a new stake in CNX Resources in the second quarter worth $131,000. Finally, Atomi Financial Group Inc. purchased a new stake in CNX Resources in the third quarter worth $202,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Capital One Financial lowered CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 price target for the company. in a research note on Monday, October 14th. JPMorgan Chase & Co. decreased their price objective on CNX Resources from $32.00 to $31.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Tudor, Pickering, Holt & Co. downgraded CNX Resources from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. Bank of America assumed coverage on CNX Resources in a report on Monday, October 28th. They issued an “underperform” rating and a $34.00 price objective for the company. Finally, Mizuho increased their price objective on CNX Resources from $32.00 to $33.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Six analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat.com, CNX Resources has an average rating of “Hold” and a consensus price target of $29.00.

CNX Resources Price Performance

NYSE CNX opened at $40.34 on Thursday. CNX Resources Co. has a one year low of $19.07 and a one year high of $41.93. The stock has a 50-day moving average of $35.49 and a 200 day moving average of $29.16. The company has a market capitalization of $6.02 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 1.95 and a beta of 1.37. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.37.

CNX Resources (NYSE:CNX) last released its quarterly earnings data on Thursday, October 24th. The oil and gas producer reported $0.41 EPS for the quarter, topping the consensus estimate of $0.32 by $0.09. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. The company had revenue of $424.21 million during the quarter, compared to the consensus estimate of $398.33 million. During the same period last year, the company earned $0.35 EPS. On average, sell-side analysts forecast that CNX Resources Co. will post 1.53 EPS for the current year.

Insider Buying and Selling

In other CNX Resources news, Director Bernard Lanigan, Jr. acquired 75,000 shares of CNX Resources stock in a transaction that occurred on Monday, September 9th. The stock was bought at an average cost of $26.81 per share, for a total transaction of $2,010,750.00. Following the acquisition, the director now owns 401,820 shares of the company’s stock, valued at $10,772,794.20. This represents a 22.95 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 4.65% of the stock is owned by corporate insiders.

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.