Sei Investments Co. Lowers Stake in CNX Resources Co. (NYSE:CNX)

Sei Investments Co. cut its holdings in shares of CNX Resources Co. (NYSE:CNX - Free Report) by 14.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 141,584 shares of the oil and gas producer's stock after selling 24,412 shares during the period. Sei Investments Co. owned about 0.09% of CNX Resources worth $5,192,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Congress Asset Management Co. grew its stake in shares of CNX Resources by 7.2% during the 4th quarter. Congress Asset Management Co. now owns 266,447 shares of the oil and gas producer's stock worth $9,771,000 after purchasing an additional 17,951 shares during the period. World Investment Advisors LLC acquired a new stake in CNX Resources during the third quarter valued at $534,000. Convergence Investment Partners LLC purchased a new position in shares of CNX Resources in the 4th quarter valued at about $1,556,000. Charles Schwab Investment Management Inc. increased its position in shares of CNX Resources by 7.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,000,464 shares of the oil and gas producer's stock valued at $73,357,000 after buying an additional 139,647 shares in the last quarter. Finally, Wakefield Asset Management LLLP acquired a new position in shares of CNX Resources during the 4th quarter worth approximately $1,047,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on CNX shares. Roth Capital set a $30.00 price target on shares of CNX Resources in a report on Thursday, January 23rd. Morgan Stanley set a $33.00 target price on shares of CNX Resources and gave the stock an "underweight" rating in a research note on Wednesday, March 26th. JPMorgan Chase & Co. lifted their price objective on CNX Resources from $32.00 to $33.00 and gave the stock an "underweight" rating in a report on Thursday, March 13th. StockNews.com lowered CNX Resources from a "hold" rating to a "sell" rating in a research note on Thursday, February 13th. Finally, Bank of America decreased their target price on CNX Resources from $32.00 to $27.00 and set an "underperform" rating on the stock in a research report on Tuesday, April 1st. Nine investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, CNX Resources currently has a consensus rating of "Reduce" and an average price target of $30.83.

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CNX Resources Trading Down 6.2 %

Shares of NYSE CNX traded down $1.95 during trading on Friday, hitting $29.29. 4,051,841 shares of the company were exchanged, compared to its average volume of 2,660,635. The company has a fifty day moving average price of $30.03 and a 200-day moving average price of $33.41. 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 market capitalization of $4.31 billion, a PE ratio of -43.08, a P/E/G ratio of 0.42 and a beta of 1.33. CNX Resources Co. has a 12-month low of $22.82 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 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%. As a group, equities research analysts expect that CNX Resources Co. will post 2.18 EPS for the current year.

Insider Activity at CNX Resources

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the firm's stock in a transaction 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 completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.10% of the stock is currently owned by insiders.

CNX Resources Company 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.