Capital Management Corp VA trimmed its position in shares of CNX Resources Co. (NYSE:CNX - Free Report) by 6.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 359,566 shares of the oil and gas producer's stock after selling 23,400 shares during the quarter. CNX Resources accounts for approximately 2.4% of Capital Management Corp VA's investment portfolio, making the stock its 17th biggest position. Capital Management Corp VA owned 0.24% of CNX Resources worth $13,185,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. Private Advisor Group LLC acquired a new stake in shares of CNX Resources in the 3rd quarter valued at $222,000. State of Alaska Department of Revenue grew its position in shares of CNX Resources by 7.2% during the third quarter. State of Alaska Department of Revenue now owns 17,662 shares of the oil and gas producer's stock worth $575,000 after acquiring an additional 1,190 shares during the last quarter. TFB Advisors LLC acquired a new stake in shares of CNX Resources during the third quarter worth about $223,000. Easterly Investment Partners LLC increased its holdings in shares of CNX Resources by 36.0% in the third quarter. Easterly Investment Partners LLC now owns 73,750 shares of the oil and gas producer's stock valued at $2,402,000 after purchasing an additional 19,520 shares during the period. Finally, Leavell Investment Management Inc. purchased a new position in CNX Resources during the third quarter worth about $250,000. 95.16% of the stock is owned by institutional investors and hedge funds.
CNX Resources Stock Performance
Shares of NYSE CNX traded down $0.61 during mid-day trading on Wednesday, hitting $29.19. The company had a trading volume of 2,450,348 shares, compared to its average volume of 2,656,253. CNX Resources Co. has a 12 month low of $21.00 and a 12 month high of $41.93. The stock has a market cap of $4.34 billion, a price-to-earnings ratio of -42.92, a PEG ratio of 0.42 and a beta of 1.26. 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 firm's 50 day simple moving average is $29.96 and its two-hundred day simple moving average is $32.94.
CNX Resources (NYSE:CNX - Get Free Report) last released its quarterly 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%. As a group, equities research analysts forecast that CNX Resources Co. will post 2.18 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on CNX shares. TD Cowen started coverage on shares of CNX Resources in a research note on Wednesday, January 15th. They set a "hold" rating and a $27.00 price target on the stock. 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. Truist Financial increased their price objective on CNX Resources from $34.00 to $35.00 and gave the company a "hold" rating in a research note on Friday, December 6th. Finally, Raymond James raised shares of CNX Resources from an "underperform" rating to a "market perform" rating in a research note on Tuesday, February 18th. Nine investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Reduce" and an average price target of $29.69.
Read Our Latest Stock Analysis on CNX
Insider Buying and Selling
In other news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $31.09, for a total value of $33,421,750.00. Following the completion of the transaction, the insider now directly owns 13,925,000 shares in the company, valued at $432,928,250. This trade represents a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 4.65% of the company's stock.
CNX Resources Profile
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Free Report)
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.
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