Janney Montgomery Scott LLC Has $498,000 Position in CNX Resources Corp (NYSE:CNX)
Janney Montgomery Scott LLC raised its position in shares of CNX Resources Corp (NYSE:CNX) by 183.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 68,605 shares of the oil and gas producer’s stock after purchasing an additional 44,400 shares during the quarter. Janney Montgomery Scott LLC’s holdings in CNX Resources were worth $498,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in CNX. BlackRock Inc. raised its stake in CNX Resources by 26.6% during the 2nd quarter. BlackRock Inc. now owns 22,888,655 shares of the oil and gas producer’s stock valued at $167,316,000 after purchasing an additional 4,816,203 shares during the period. JPMorgan Chase & Co. increased its stake in shares of CNX Resources by 138.4% in the second quarter. JPMorgan Chase & Co. now owns 3,151,053 shares of the oil and gas producer’s stock worth $22,499,000 after acquiring an additional 1,829,495 shares during the last quarter. Caymus Capital Partners L.P. acquired a new position in shares of CNX Resources in the second quarter worth $7,885,000. Paloma Partners Management Co increased its stake in shares of CNX Resources by 562.0% in the second quarter. Paloma Partners Management Co now owns 1,072,446 shares of the oil and gas producer’s stock worth $7,839,000 after acquiring an additional 910,448 shares during the last quarter. Finally, Nuveen Asset Management LLC acquired a new position in shares of CNX Resources in the second quarter worth $5,657,000. 95.90% of the stock is currently owned by institutional investors.
A number of equities analysts have recently weighed in on CNX shares. ValuEngine raised shares of CNX Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Zacks Investment Research raised shares of CNX Resources from a “sell” rating to a “hold” rating and set a $9.00 price target on the stock in a research note on Thursday, August 1st. Finally, KeyCorp started coverage on shares of CNX Resources in a research note on Wednesday, October 9th. They issued a “sector weight” rating and a $7.11 price target on the stock. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. CNX Resources has an average rating of “Hold” and a consensus price target of $12.22.
CNX Resources (NYSE:CNX) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported ($0.06) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.03. The firm had revenue of $530.00 million during the quarter, compared to analysts’ expectations of $341.10 million. CNX Resources had a net margin of 15.83% and a return on equity of 3.16%. CNX Resources’s revenue for the quarter was up 33.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.59 earnings per share. As a group, analysts predict that CNX Resources Corp will post 0.74 EPS for the current year.
CNX Resources Profile
CNX Resources Corporation, an independent oil and gas company, explores for, develops, and produces natural gas primarily in the Appalachian Basin. The company operates through two divisions, Exploration and Production (E&P), and Midstream. The E&P division produces pipeline quality natural gas primarily to gas wholesalers.
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