Sciencast Management LP trimmed its stake in CNX Resources Co. (NYSE:CNX - Free Report) by 56.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,894 shares of the oil and gas producer's stock after selling 8,995 shares during the period. Sciencast Management LP's holdings in CNX Resources were worth $253,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also added to or reduced their stakes in CNX. Semanteon Capital Management LP raised its holdings in shares of CNX Resources by 75.6% in the fourth quarter. Semanteon Capital Management LP now owns 15,191 shares of the oil and gas producer's stock valued at $557,000 after acquiring an additional 6,542 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in shares of CNX Resources by 104.8% in the 4th quarter. Teacher Retirement System of Texas now owns 46,170 shares of the oil and gas producer's stock valued at $1,693,000 after purchasing an additional 23,630 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of CNX Resources in the 4th quarter valued at about $39,000. VSM Wealth Advisory LLC purchased a new stake in shares of CNX Resources in the 4th quarter worth approximately $55,000. Finally, Xponance Inc. boosted its stake in shares of CNX Resources by 2.9% during the fourth quarter. Xponance Inc. now owns 20,876 shares of the oil and gas producer's stock valued at $766,000 after purchasing an additional 588 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors.
CNX Resources Stock Performance
Shares of CNX traded down $0.21 during trading hours on Thursday, hitting $31.58. The stock had a trading volume of 1,136,966 shares, compared to its average volume of 2,605,476. The firm has a market capitalization of $4.70 billion, a price-to-earnings ratio of -46.44, a PEG ratio of 0.42 and a beta of 1.26. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.32 and a current ratio of 0.33. The firm has a 50-day moving average price of $29.79 and a 200 day moving average price of $33.19. CNX Resources Co. has a fifty-two week low of $22.81 and a fifty-two week high of $41.93.
CNX Resources (NYSE:CNX - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates 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%. As a group, research analysts anticipate that CNX Resources Co. will post 2.18 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the company. StockNews.com downgraded CNX Resources from a "hold" rating to a "sell" rating in a research report on Thursday, February 13th. Roth Capital set a $30.00 price objective on shares of CNX Resources in a research report on Thursday, January 23rd. Raymond James upgraded shares of CNX Resources from an "underperform" rating to a "market perform" rating in a research note on Tuesday, February 18th. Stephens raised CNX Resources from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $35.00 to $48.00 in a research report on Tuesday, March 18th. Finally, Piper Sandler lowered their price target 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. Nine investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $30.69.
Check Out Our Latest Analysis on CNX
Insider Buying and Selling at CNX Resources
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 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 $432,928,250. This trade represents a 7.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.10% of the stock is owned by corporate insiders.
CNX Resources Company 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.
Further Reading
Before you consider CNX Resources, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CNX Resources wasn't on the list.
While CNX Resources currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat has just released its list of 20 stocks that Wall Street analysts hate. These companies may appear to have good fundamentals, but top analysts smell something seriously rotten. Are any of these companies lurking around your portfolio?
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
