CNX Resources Co. (NYSE:CNX) Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC cut its stake in shares of CNX Resources Co. (NYSE:CNX) by 4.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 421,308 shares of the oil and gas producer’s stock after selling 19,866 shares during the period. Great Lakes Advisors LLC’s holdings in CNX Resources were worth $15,449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Principal Securities Inc. raised its position in CNX Resources by 38.5% in the fourth quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer’s stock worth $91,000 after acquiring an additional 691 shares in the last quarter. Blue Trust Inc. raised its position in CNX Resources by 65.1% in the fourth quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer’s stock worth $119,000 after acquiring an additional 1,280 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in CNX Resources in the fourth quarter worth $121,000. Oppenheimer Asset Management Inc. purchased a new position in CNX Resources in the third quarter worth $205,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in CNX Resources in the third quarter worth $209,000. 95.16% of the stock is owned by institutional investors and hedge funds.

CNX Resources Trading Down 2.1 %

CNX Resources stock opened at $29.19 on Thursday. The stock has a market cap of $4.34 billion, a PE ratio of -42.92, a P/E/G ratio of 0.42 and a beta of 1.26. The stock has a 50-day moving average price of $29.81 and a 200 day moving average price of $32.91. CNX Resources Co. has a 52 week low of $21.07 and a 52 week high of $41.93. 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, topping 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%. Equities research analysts predict that CNX Resources Co. will post 2.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of CNX Resources stock in a transaction dated Monday, January 6th. The stock was 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 owns 13,925,000 shares in the company, valued at approximately $432,928,250. This trade represents a 7.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.65% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Morgan Stanley assumed coverage on CNX Resources in a research report on Friday, January 10th. They issued an “underweight” rating and a $29.00 price objective for the company. Roth Capital set a $30.00 price objective on CNX Resources in a research report on Thursday, January 23rd. JPMorgan Chase & Co. cut CNX Resources from a “neutral” rating to an “underweight” rating and increased their price objective for the stock from $31.00 to $37.00 in a research report on Thursday, December 5th. Raymond James upgraded CNX Resources from an “underperform” rating to a “market perform” rating in a research report on Tuesday, February 18th. Finally, Piper Sandler dropped their price target 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. Nine investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, CNX Resources currently has a consensus rating of “Reduce” and a consensus target price of $29.69.

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.