Brandywine Global Investment Management LLC cut its stake in CNX Resources Co. (NYSE:CNX - Free Report) by 7.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 700,034 shares of the oil and gas producer's stock after selling 57,576 shares during the period. Brandywine Global Investment Management LLC owned 0.47% of CNX Resources worth $25,670,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently modified their holdings of the stock. Harvest Fund Management Co. Ltd bought a new position in CNX Resources in the fourth quarter valued at about $39,000. VSM Wealth Advisory LLC acquired a new position in CNX Resources during the 4th quarter valued at about $55,000. Principal Securities Inc. boosted its stake in shares of CNX Resources by 38.5% in the 4th quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer's stock valued at $91,000 after purchasing an additional 691 shares during the last quarter. Blue Trust Inc. grew its position in shares of CNX Resources by 65.1% during the 4th quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer's stock worth $119,000 after buying an additional 1,280 shares during the period. Finally, Heck Capital Advisors LLC acquired a new stake in shares of CNX Resources during the 4th quarter worth approximately $121,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.
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 stock was sold at an average price of $31.09, for a total value of $33,421,750.00. Following the sale, the insider now owns 13,925,000 shares of the company's stock, valued at $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 is available through the SEC website. Company insiders own 3.10% of the company's stock.
Analyst Ratings Changes
CNX has been the topic of several analyst reports. Roth Capital set a $30.00 price objective on shares of CNX Resources in a report on Thursday, January 23rd. Morgan Stanley set a $33.00 price target on CNX Resources and gave the company an "underweight" rating in a research note on Wednesday, March 26th. Mizuho decreased their price objective 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. TD Cowen began coverage on CNX Resources in a report on Wednesday, January 15th. They issued a "hold" rating and a $27.00 price objective for the company. Finally, Raymond James upgraded CNX Resources from an "underperform" rating to a "market perform" rating in a report on Tuesday, February 18th. Nine investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average target price of $30.83.
Check Out Our Latest Report on CNX
CNX Resources Stock Down 6.2 %
Shares of CNX traded down $1.95 on Friday, hitting $29.29. The company's stock had a trading volume of 4,051,841 shares, compared to its average volume of 2,656,701. The firm's fifty day moving average price is $30.03 and its 200-day moving average price is $33.35. CNX Resources Co. has a fifty-two week low of $22.82 and a fifty-two week high of $41.93. The company has a quick ratio of 0.32, a current ratio of 0.33 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of -43.08, a P/E/G ratio of 0.42 and a beta of 1.26.
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 the consensus estimate of $0.43 by $0.14. CNX Resources had a negative net margin of 7.14% and a positive return on equity of 6.72%. On average, equities research analysts expect that CNX Resources Co. will post 2.18 EPS for the current year.
CNX Resources Profile
(
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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