CNX Resources Co. (NYSE:CNX) is Southeast Asset Advisors LLC’s 3rd Largest Position

Southeast Asset Advisors LLC reduced its position in CNX Resources Co. (NYSE:CNX) by 6.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,266,206 shares of the oil and gas producer’s stock after selling 146,209 shares during the quarter. CNX Resources comprises approximately 10.2% of Southeast Asset Advisors LLC’s investment portfolio, making the stock its 3rd biggest holding. Southeast Asset Advisors LLC owned about 1.52% of CNX Resources worth $83,102,000 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 CNX. Harvest Fund Management Co. Ltd purchased a new stake in CNX Resources in the fourth quarter valued at about $39,000. VSM Wealth Advisory LLC acquired a new position in shares of CNX Resources during the fourth quarter valued at about $55,000. Principal Securities Inc. raised its position in shares of CNX Resources by 38.5% in the 4th quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer’s stock valued at $91,000 after purchasing an additional 691 shares during the last quarter. Blue Trust Inc. raised its position in shares of CNX Resources by 65.1% in the 4th quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer’s stock valued at $119,000 after purchasing an additional 1,280 shares during the last quarter. Finally, Heck Capital Advisors LLC acquired a new stake in CNX Resources in the 4th quarter worth approximately $121,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Piper Sandler decreased their price target on shares of CNX Resources from $23.00 to $22.00 and set an “underweight” rating for the company in a report on Wednesday, January 29th. StockNews.com lowered CNX Resources from a “hold” rating to a “sell” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. increased their price objective on CNX Resources from $32.00 to $33.00 and gave the company an “underweight” rating in a report on Thursday, March 13th. Bank of America decreased their target price on CNX Resources from $32.00 to $27.00 and set an “underperform” rating for the company in a report on Tuesday, April 1st. Finally, TD Cowen started coverage on shares of CNX Resources in a report on Wednesday, January 15th. They issued a “hold” rating and a $27.00 price target on the stock. Nine investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $30.83.

CNX Resources Stock Down 6.2 %

CNX stock opened at $29.29 on Monday. CNX Resources Co. has a one year low of $22.82 and a one year high of $41.93. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.32 and a current ratio of 0.33. The firm’s fifty day moving average is $30.03 and its 200 day moving average is $33.41. The firm has a market cap of $4.31 billion, a PE ratio of -43.08, a P/E/G ratio of 0.42 and a beta of 1.33.

CNX Resources (NYSE:CNX) last posted its earnings results 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 positive return on equity of 6.72% and a negative net margin of 7.14%. On average, research analysts forecast that CNX Resources Co. will post 2.18 EPS for the current year.

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.