Ameritas Investment Partners Inc. Sells 2,196 Shares of CNX Resources Co. (NYSE:CNX)

Ameritas Investment Partners Inc. decreased its position in shares of CNX Resources Co. (NYSE:CNX) by 4.3% in the 1st quarter, Holdings Channel reports. The fund owned 49,106 shares of the oil and gas producer’s stock after selling 2,196 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in CNX Resources were worth $1,165,000 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. Public Employees Retirement System of Ohio purchased a new stake in CNX Resources during the 3rd quarter worth about $1,343,000. Raymond James & Associates lifted its holdings in CNX Resources by 2.6% during the 4th quarter. Raymond James & Associates now owns 194,990 shares of the oil and gas producer’s stock worth $3,900,000 after purchasing an additional 4,963 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of CNX Resources by 15.8% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 19,736 shares of the oil and gas producer’s stock valued at $395,000 after acquiring an additional 2,687 shares in the last quarter. Spirit of America Management Corp NY raised its holdings in shares of CNX Resources by 65.4% in the 4th quarter. Spirit of America Management Corp NY now owns 21,500 shares of the oil and gas producer’s stock valued at $430,000 after acquiring an additional 8,500 shares in the last quarter. Finally, Trust Point Inc. purchased a new stake in shares of CNX Resources in the 4th quarter valued at about $717,000. Institutional investors own 95.16% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on CNX shares. Mizuho raised their price target on CNX Resources from $25.00 to $29.00 and gave the company a “neutral” rating in a report on Monday, May 13th. Piper Sandler boosted their target price on CNX Resources from $18.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, April 19th. Truist Financial upped their price objective on shares of CNX Resources from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Monday. Roth Mkm upped their price objective on shares of CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Finally, Stephens reaffirmed an “equal weight” rating and issued a $27.00 price objective on shares of CNX Resources in a research note on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $25.57.

CNX Resources Trading Down 1.4 %

CNX traded down $0.37 during trading on Tuesday, hitting $25.46. 3,906,823 shares of the stock traded hands, compared to its average volume of 2,783,525. The firm has a market capitalization of $3.90 billion, a P/E ratio of 4.66 and a beta of 1.38. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.53 and a quick ratio of 0.51. The firm has a 50-day moving average of $25.06 and a 200 day moving average of $22.97. CNX Resources Co. has a 12-month low of $18.17 and a 12-month high of $26.60.

CNX Resources (NYSE:CNX) last announced its quarterly earnings results on Thursday, April 25th. The oil and gas producer reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.09. The business had revenue of $381.00 million during the quarter, compared to analysts’ expectations of $420.13 million. CNX Resources had a net margin of 40.44% and a return on equity of 7.68%. Equities research analysts anticipate that CNX Resources Co. will post 1.36 EPS 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.