Dimensional Fund Advisors LP Sells 1,314,908 Shares of CNX Resources Co. (NYSE:CNX)

Dimensional Fund Advisors LP cut its position in CNX Resources Co. (NYSE:CNX) by 11.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 9,800,367 shares of the oil and gas producer’s stock after selling 1,314,908 shares during the quarter. Dimensional Fund Advisors LP owned 0.07% of CNX Resources worth $359,385,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in shares of CNX Resources by 7.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,000,464 shares of the oil and gas producer’s stock worth $73,357,000 after buying an additional 139,647 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in CNX Resources in the 4th quarter worth about $37,923,000. Assetmark Inc. raised its holdings in shares of CNX Resources by 2.2% in the 4th quarter. Assetmark Inc. now owns 885,429 shares of the oil and gas producer’s stock valued at $32,469,000 after acquiring an additional 19,309 shares in the last quarter. First Trust Advisors LP boosted its position in shares of CNX Resources by 12.0% during the 4th quarter. First Trust Advisors LP now owns 645,591 shares of the oil and gas producer’s stock valued at $23,674,000 after acquiring an additional 69,280 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of CNX Resources by 0.9% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 622,503 shares of the oil and gas producer’s stock worth $22,827,000 after purchasing an additional 5,769 shares in the last quarter. 95.16% of the stock is owned by institutional investors.

CNX Resources Stock Performance

NYSE:CNX opened at $30.83 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.32 and a current ratio of 0.33. CNX Resources Co. has a fifty-two week low of $22.82 and a fifty-two week high of $41.93. The firm has a market cap of $4.54 billion, a PE ratio of -45.34, a price-to-earnings-growth ratio of 0.42 and a beta of 1.33. The business has a 50 day moving average price of $30.32 and a 200-day moving average price of $33.24.

CNX Resources (NYSE:CNX) last announced its quarterly earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.14. CNX Resources had a negative net margin of 7.14% and a positive return on equity of 6.72%. Equities research analysts predict that CNX Resources Co. will post 2.18 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Morgan Stanley reaffirmed an “underweight” rating and issued a $31.00 target price on shares of CNX Resources in a research note on Tuesday. TD Cowen initiated coverage on shares of CNX Resources in a research report on Wednesday, January 15th. They set a “hold” rating and a $27.00 price objective on the stock. Bank of America cut their target price on shares of CNX Resources from $32.00 to $27.00 and set an “underperform” rating for the company in a research report on Tuesday, April 1st. JPMorgan Chase & Co. raised their price target on CNX Resources from $32.00 to $33.00 and gave the company an “underweight” rating in a research report on Thursday, March 13th. Finally, Raymond James upgraded CNX Resources from an “underperform” rating to a “market perform” rating in a report on Tuesday, February 18th. Eight analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, CNX Resources has a consensus rating of “Hold” and an average target price of $31.25.

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.