CNX Resources Co. (NYSE:CNX) Shares Sold by American Century Companies Inc.

American Century Companies Inc. lessened its stake in CNX Resources Co. (NYSE:CNX) by 13.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,338,262 shares of the oil and gas producer’s stock after selling 521,193 shares during the quarter. American Century Companies Inc. owned 2.24% of CNX Resources worth $122,414,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Raymond James Financial Inc. purchased a new position in CNX Resources in the fourth quarter valued at about $14,268,000. Empirical Asset Management LLC acquired a new position in CNX Resources during the fourth quarter worth $9,281,000. Charles Schwab Investment Management Inc. boosted its position in CNX Resources by 12.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,860,817 shares of the oil and gas producer’s stock worth $60,607,000 after purchasing an additional 202,890 shares in the last quarter. Empowered Funds LLC grew its holdings in CNX Resources by 328.0% in the fourth quarter. Empowered Funds LLC now owns 211,719 shares of the oil and gas producer’s stock valued at $7,764,000 after purchasing an additional 162,247 shares during the last quarter. Finally, Intech Investment Management LLC increased its position in shares of CNX Resources by 200.3% in the fourth quarter. Intech Investment Management LLC now owns 194,307 shares of the oil and gas producer’s stock valued at $7,125,000 after buying an additional 129,605 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $31.09, for a total transaction of $33,421,750.00. Following the completion of the sale, the insider now directly owns 13,925,000 shares of the company’s stock, valued at $432,928,250. The trade was a 7.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.10% of the stock is currently owned by company insiders.

CNX Resources Stock Performance

CNX Resources stock opened at $31.79 on Monday. The stock has a fifty day moving average price of $29.71 and a 200 day moving average price of $33.14. CNX Resources Co. has a 52 week low of $22.80 and a 52 week high of $41.93. The firm has a market capitalization of $4.73 billion, a P/E ratio of -46.75, a PEG ratio of 0.42 and a beta of 1.26. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 0.45.

CNX Resources (NYSE:CNX) last posted its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.57 EPS for the quarter, beating analysts’ consensus estimates 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 anticipate that CNX Resources Co. will post 2.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CNX. Truist Financial boosted their price objective on shares of CNX Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Morgan Stanley started coverage on shares of CNX Resources in a research report on Friday, January 10th. They issued an “underweight” rating and a $29.00 price target on the stock. Piper Sandler cut their price objective on CNX Resources from $23.00 to $22.00 and set an “underweight” rating for the company in a research report on Wednesday, January 29th. TD Cowen began coverage on CNX Resources in a research note on Wednesday, January 15th. They issued a “hold” rating and a $27.00 target price on the stock. Finally, StockNews.com downgraded CNX Resources from a “hold” rating to a “sell” rating in a research report on Thursday, February 13th. Nine analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, CNX Resources currently has an average rating of “Hold” and a consensus target price of $30.38.

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.