Meeder Asset Management Inc. Sells 3,378 Shares of CNX Resources Co. (NYSE:CNX)

Meeder Asset Management Inc. lowered its holdings in CNX Resources Co. (NYSE:CNX) by 45.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 3,990 shares of the oil and gas producer’s stock after selling 3,378 shares during the quarter. Meeder Asset Management Inc.’s holdings in CNX Resources were worth $54,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CNX. US Bancorp DE grew its position in shares of CNX Resources by 2.1% in the 2nd quarter. US Bancorp DE now owns 43,968 shares of the oil and gas producer’s stock worth $601,000 after buying an additional 900 shares during the last quarter. First Horizon Advisors Inc. purchased a new position in shares of CNX Resources in the 1st quarter worth approximately $46,000. Strs Ohio purchased a new position in shares of CNX Resources in the 1st quarter worth approximately $72,000. Swiss National Bank grew its position in shares of CNX Resources by 1.0% in the 1st quarter. Swiss National Bank now owns 512,958 shares of the oil and gas producer’s stock worth $7,540,000 after buying an additional 5,200 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in shares of CNX Resources by 3.8% in the 1st quarter. SG Americas Securities LLC now owns 161,998 shares of the oil and gas producer’s stock worth $2,381,000 after buying an additional 5,892 shares during the last quarter. Institutional investors and hedge funds own 91.29% of the company’s stock.

Shares of NYSE CNX opened at $12.11 on Wednesday. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.55. CNX Resources Co. has a 12 month low of $8.31 and a 12 month high of $15.89. The company has a 50 day simple moving average of $11.99 and a two-hundred day simple moving average of $13.34. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of -9.04, a PEG ratio of 0.42 and a beta of 1.54.

CNX Resources (NYSE:CNX) last posted its earnings results on Thursday, July 29th. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.07). CNX Resources had a negative net margin of 4.31% and a positive return on equity of 4.05%. The firm had revenue of $359.00 million during the quarter, compared to analyst estimates of $390.40 million. Analysts forecast that CNX Resources Co. will post 1.13 EPS for the current year.

Several analysts have weighed in on the stock. Bank of America downgraded shares of CNX Resources from a “neutral” rating to an “underperform” rating and set a $15.00 target price on the stock. in a research report on Monday, June 21st. Raymond James dropped their target price on shares of CNX Resources from $18.00 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 31st. MKM Partners raised shares of CNX Resources from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $15.00 to $16.00 in a research report on Thursday, July 8th. BMO Capital Markets downgraded shares of CNX Resources from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $15.00 to $13.00 in a research report on Friday, August 27th. Finally, Wells Fargo & Company boosted their target price on shares of CNX Resources from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $15.58.

CNX Resources Company Profile

CNX Resources Corp. is an independent natural gas exploration, development and production companies, with operations centered in the major shale formations of the Appalachian basin. The company deploys an organic growth strategy focused on responsibly developing its resource base. The firm operates through the Marcellus Shale, and Coalbed Methane segments.

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Institutional Ownership by Quarter for CNX Resources (NYSE:CNX)

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