Carnegie Lake Advisors LLC Trims Stock Holdings in CNX Resources Co. (NYSE:CNX)

Carnegie Lake Advisors LLC reduced its holdings in CNX Resources Co. (NYSE:CNX - Free Report) by 42.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 136,250 shares of the oil and gas producer's stock after selling 100,700 shares during the quarter. CNX Resources comprises 2.0% of Carnegie Lake Advisors LLC's investment portfolio, making the stock its 12th biggest holding. Carnegie Lake Advisors LLC owned 0.09% of CNX Resources worth $4,996,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. increased its stake in CNX Resources by 135.4% in the 3rd quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer's stock valued at $64,000 after purchasing an additional 1,131 shares in the last quarter. CWM LLC increased its position in CNX Resources by 77.0% during the third quarter. CWM LLC now owns 2,149 shares of the oil and gas producer's stock worth $70,000 after buying an additional 935 shares in the last quarter. GAMMA Investing LLC increased its position in CNX Resources by 62.1% during the third quarter. GAMMA Investing LLC now owns 3,073 shares of the oil and gas producer's stock worth $100,000 after buying an additional 1,177 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in CNX Resources during the fourth quarter worth $121,000. Finally, Longboard Asset Management LP purchased a new position in CNX Resources during the fourth quarter worth $212,000. 95.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CNX shares. TD Cowen started coverage on CNX Resources in a research report on Wednesday, January 15th. They set a "hold" rating and a $27.00 price target for the company. Bank of America started coverage on CNX Resources in a research report on Monday, October 28th. They set an "underperform" rating and a $34.00 price target for the company. Mizuho dropped their price target on CNX Resources from $38.00 to $34.00 and set an "underperform" rating for the company in a research report on Tuesday, January 14th. 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. Finally, JPMorgan Chase & Co. downgraded CNX Resources from a "neutral" rating to an "underweight" rating and raised their price target for the stock from $31.00 to $37.00 in a research report on Thursday, December 5th. Nine research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus price target of $29.67.

Insider Activity at CNX Resources

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the business's 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 transaction, the insider now owns 13,925,000 shares in the company, valued at $432,928,250. The trade was a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.10% of the stock is owned by insiders.

CNX Resources Trading Down 0.7 %

CNX Resources stock traded down $0.21 during midday trading on Friday, reaching $30.28. The stock had a trading volume of 2,405,007 shares, compared to its average volume of 4,122,994. CNX Resources Co. has a twelve month low of $19.33 and a twelve month high of $41.93. The stock has a market capitalization of $4.52 billion, a PE ratio of -44.53, a price-to-earnings-growth ratio of 0.39 and a beta of 1.38. 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 stock's 50-day simple moving average is $32.34 and its 200 day simple moving average is $32.42.

CNX Resources (NYSE:CNX - Get Free Report) last issued its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share 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%. Analysts expect that CNX Resources Co. will post 2.36 EPS for the current year.

About CNX Resources

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.