Choreo LLC Sells 16,914 Shares of CNX Resources Co. (NYSE:CNX)

Choreo LLC cut its stake in CNX Resources Co. (NYSE:CNX - Free Report) by 54.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,998 shares of the oil and gas producer's stock after selling 16,914 shares during the quarter. Choreo LLC's holdings in CNX Resources were worth $519,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake 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 valued at $60,607,000 after buying an additional 202,890 shares during the period. World Investment Advisors LLC bought a new stake in CNX Resources during the third quarter valued at $534,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in CNX Resources by 311.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 616,734 shares of the oil and gas producer's stock valued at $20,087,000 after buying an additional 466,694 shares during the period. Sequoia Financial Advisors LLC boosted its stake in CNX Resources by 3.5% during the third quarter. Sequoia Financial Advisors LLC now owns 13,135 shares of the oil and gas producer's stock valued at $428,000 after buying an additional 442 shares during the period. Finally, Geode Capital Management LLC boosted its stake in CNX Resources by 0.3% during the third quarter. Geode Capital Management LLC now owns 3,602,837 shares of the oil and gas producer's stock valued at $117,366,000 after buying an additional 12,333 shares during the period. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the company's stock in a transaction that occurred on 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 approximately $432,928,250. This represents a 7.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.10% of the company's stock.

CNX Resources Trading Down 0.7 %

NYSE:CNX traded down $0.21 during mid-day trading on Friday, reaching $30.28. 2,405,007 shares of the company's stock traded hands, compared to its average volume of 3,537,056. CNX Resources Co. has a 12-month low of $19.33 and a 12-month high of $41.93. The firm has a market capitalization of $4.52 billion, a price-to-earnings ratio of -44.53, a PEG ratio of 0.39 and a beta of 1.38. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32. The company has a 50 day moving average price of $32.34 and a 200-day moving average price of $32.46.

CNX Resources (NYSE:CNX - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share (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, sell-side analysts predict that CNX Resources Co. will post 2.36 earnings per share for the current year.

Analyst Ratings Changes

CNX has been the subject of several research analyst reports. Bank of America began coverage on CNX Resources in a research note on Monday, October 28th. They set an "underperform" rating and a $34.00 price objective 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 note on Tuesday, January 14th. JPMorgan Chase & Co. lowered CNX Resources from a "neutral" rating to an "underweight" rating and lifted their price target for the stock from $31.00 to $37.00 in a research note on Thursday, December 5th. TD Cowen began coverage on CNX Resources in a research note on Wednesday, January 15th. They set a "hold" rating and a $27.00 price target for the company. 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 note on Wednesday, January 29th. Nine investment analysts have rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat.com, CNX Resources has a consensus rating of "Reduce" and an average price target of $29.67.

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.