American Century Companies Inc. decreased its holdings in CNX Resources Co. (NYSE:CNX - Free Report) by 13.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,338,262 shares of the oil and gas producer's stock after selling 521,193 shares during the quarter. American Century Companies Inc. owned about 2.24% of CNX Resources worth $122,414,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new position in CNX Resources in the fourth quarter valued at $14,268,000. Empirical Asset Management LLC acquired a new position in CNX Resources in the 4th quarter valued at about $9,281,000. Charles Schwab Investment Management Inc. increased its position in CNX Resources by 12.2% in the 3rd 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 acquiring an additional 202,890 shares during the period. Empowered Funds LLC raised its stake in CNX Resources by 328.0% during the 4th quarter. Empowered Funds LLC now owns 211,719 shares of the oil and gas producer's stock valued at $7,764,000 after acquiring an additional 162,247 shares during the last quarter. Finally, Intech Investment Management LLC lifted its position in CNX Resources by 200.3% during the 4th quarter. Intech Investment Management LLC now owns 194,307 shares of the oil and gas producer's stock worth $7,125,000 after acquiring an additional 129,605 shares during the period. Institutional investors and hedge funds own 95.16% of the company's stock.
CNX Resources Price Performance
Shares of NYSE:CNX traded down $0.21 during trading on Thursday, hitting $31.58. 1,136,966 shares of the stock were exchanged, compared to its average volume of 2,605,476. The company has a market cap of $4.70 billion, a PE ratio of -46.44, a P/E/G ratio of 0.42 and a beta of 1.26. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 0.45. The company has a fifty day moving average price of $29.79 and a two-hundred day moving average price of $33.19. CNX Resources Co. has a 12-month low of $22.81 and a 12-month high of $41.93.
CNX Resources (NYSE:CNX - Get Free Report) last posted its earnings results 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%. On average, analysts forecast that CNX Resources Co. will post 2.18 EPS for the current year.
Insider Buying and Selling
In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of CNX Resources stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $31.09, for a total transaction of $33,421,750.00. Following the completion of the transaction, the insider now owns 13,925,000 shares in the company, valued at approximately $432,928,250. The trade was a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.10% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on CNX. Roth Capital set a $30.00 target price on CNX Resources in a report on Thursday, January 23rd. Morgan Stanley set a $33.00 price objective on shares of CNX Resources and gave the company an "underweight" rating in a research note on Wednesday. Mizuho reduced their target price on shares of CNX Resources from $38.00 to $34.00 and set an "underperform" rating for the company in a research note on Tuesday, January 14th. Raymond James raised shares of CNX Resources from an "underperform" rating to a "market perform" rating in a report on Tuesday, February 18th. Finally, Piper Sandler cut 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. Nine analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $30.69.
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About CNX Resources
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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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