Eubel Brady & Suttman Asset Management Inc. Sells 159,665 Shares of CNX Resources Co. (NYSE:CNX)

Eubel Brady & Suttman Asset Management Inc. decreased its position in shares of CNX Resources Co. (NYSE:CNX - Free Report) by 29.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 380,212 shares of the oil and gas producer's stock after selling 159,665 shares during the quarter. CNX Resources accounts for 1.8% of Eubel Brady & Suttman Asset Management Inc.'s portfolio, making the stock its 28th largest position. Eubel Brady & Suttman Asset Management Inc. owned about 0.25% of CNX Resources worth $13,942,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. raised its position 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 worth $64,000 after buying an additional 1,131 shares during the last quarter. CWM LLC raised its holdings in shares of CNX Resources by 77.0% during the third quarter. CWM LLC now owns 2,149 shares of the oil and gas producer's stock valued at $70,000 after purchasing an additional 935 shares during the last quarter. Principal Securities Inc. raised its holdings in shares of CNX Resources by 38.5% during the fourth 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. Heck Capital Advisors LLC bought a new position in CNX Resources during the fourth quarter valued at approximately $121,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in CNX Resources in the third quarter worth approximately $205,000. Institutional investors own 95.16% of the company's stock.

Remove Ads

CNX Resources Price Performance

Shares of NYSE CNX traded down $0.26 during midday trading on Wednesday, reaching $29.99. The stock had a trading volume of 2,086,534 shares, compared to its average volume of 3,847,736. The company has a market capitalization of $4.46 billion, a price-to-earnings ratio of -44.10, a price-to-earnings-growth ratio of 0.42 and a beta of 1.38. CNX Resources Co. has a 12-month low of $20.45 and a 12-month high of $41.93. The stock has a 50-day moving average of $31.32 and a 200-day moving average of $32.75. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.32 and a current ratio of 0.33.

CNX Resources (NYSE:CNX - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share (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%. As a group, research analysts anticipate that CNX Resources Co. will post 2.18 EPS for the current fiscal year.

Insider Transactions at CNX Resources

In related news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the business'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 value of $33,421,750.00. Following the transaction, the insider now directly owns 13,925,000 shares of the company's stock, valued at approximately $432,928,250. The trade was a 7.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.10% of the company's stock.

Wall Street Analysts Forecast Growth

CNX has been the topic of several research analyst reports. Morgan Stanley initiated coverage on CNX Resources in a report on Friday, January 10th. They set an "underweight" rating and a $29.00 price target on the stock. Roth Capital set a $30.00 target price on CNX Resources in a report on Thursday, January 23rd. TD Cowen started coverage on CNX Resources in a research report on Wednesday, January 15th. They issued a "hold" rating and a $27.00 target price on the stock. Mizuho cut 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. Finally, Raymond James raised shares of CNX Resources from an "underperform" rating to a "market perform" rating in a report on Tuesday, February 18th. Nine analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus target price of $29.69.

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.