Voya Investment Management LLC Trims Holdings in CNX Resources Corporation. $CNX

Voya Investment Management LLC lowered its stake in shares of CNX Resources Corporation. (NYSE:CNX) by 31.9% in the third quarter, Holdings Channel reports. The institutional investor owned 40,607 shares of the oil and gas producer’s stock after selling 19,053 shares during the quarter. Voya Investment Management LLC’s holdings in CNX Resources were worth $1,304,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CacheTech Inc. bought a new position in CNX Resources during the 2nd quarter valued at $214,000. Adams Wealth Management bought a new stake in shares of CNX Resources in the 2nd quarter worth about $214,000. State of Wyoming acquired a new stake in shares of CNX Resources in the 2nd quarter valued at about $29,000. Tower Research Capital LLC TRC raised its stake in shares of CNX Resources by 61.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 25,725 shares of the oil and gas producer’s stock valued at $866,000 after purchasing an additional 9,810 shares in the last quarter. Finally, Tidal Investments LLC lifted its position in shares of CNX Resources by 120.0% during the second quarter. Tidal Investments LLC now owns 15,929 shares of the oil and gas producer’s stock worth $536,000 after purchasing an additional 8,690 shares during the last quarter. Institutional investors own 95.16% of the company’s stock.

CNX Resources Price Performance

Shares of NYSE CNX opened at $36.78 on Tuesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.34 and a quick ratio of 0.31. The firm has a market capitalization of $4.96 billion, a PE ratio of 25.72, a P/E/G ratio of 0.34 and a beta of 0.64. CNX Resources Corporation. has a 1-year low of $27.00 and a 1-year high of $42.13. The business’s fifty day moving average price is $36.70 and its two-hundred day moving average price is $33.24.

CNX Resources (NYSE:CNX) last released its quarterly earnings results on Thursday, October 30th. The oil and gas producer reported $0.46 EPS for the quarter, topping the consensus estimate of $0.37 by $0.09. CNX Resources had a net margin of 16.56% and a return on equity of 9.10%. The business had revenue of $423.00 million during the quarter, compared to analyst estimates of $408.80 million. The company’s quarterly revenue was up 37.6% compared to the same quarter last year. On average, research analysts expect that CNX Resources Corporation. will post 2.18 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CNX shares. Morgan Stanley cut their price objective on CNX Resources from $32.00 to $31.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 14th. JPMorgan Chase & Co. raised CNX Resources from an “underweight” rating to a “neutral” rating and upped their price target for the company from $36.00 to $38.00 in a research report on Monday, December 8th. Siebert Williams Shank assumed coverage on shares of CNX Resources in a report on Monday, September 15th. They issued a “hold” rating and a $32.00 price objective for the company. Scotiabank boosted their target price on shares of CNX Resources from $36.00 to $40.00 and gave the company a “sector perform” rating in a research note on Friday, November 21st. Finally, Zacks Research upgraded shares of CNX Resources from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $34.00.

CNX Resources Profile

CNX Resources Corporation is a natural gas and natural gas liquids producer with operations concentrated in the Appalachian Basin. Established as an independent, publicly traded entity in 2018 following its spinoff from Consol Energy, the company focuses on the exploration, development and production of hydrocarbon resources in the Marcellus and Utica shales across Pennsylvania, West Virginia and Ohio.

In addition to its upstream activities, CNX Resources has invested in midstream infrastructure through its subsidiary that gathers, processes and transports natural gas.