Congress Asset Management Co. Has $9.77 Million Stock Position in CNX Resources Co. (NYSE:CNX)

Congress Asset Management Co. lifted its holdings in CNX Resources Co. (NYSE:CNX - Free Report) by 7.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 266,447 shares of the oil and gas producer's stock after purchasing an additional 17,951 shares during the quarter. Congress Asset Management Co. owned 0.18% of CNX Resources worth $9,771,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CNX. CWM LLC lifted its position in CNX Resources by 77.0% during the 3rd quarter. CWM LLC now owns 2,149 shares of the oil and gas producer's stock worth $70,000 after buying an additional 935 shares in the last quarter. Creative Planning increased its position in shares of CNX Resources by 17.5% in the third quarter. Creative Planning now owns 36,735 shares of the oil and gas producer's stock valued at $1,196,000 after acquiring an additional 5,470 shares during the last quarter. Blue Trust Inc. raised its holdings in CNX Resources by 135.4% during the third quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer's stock worth $64,000 after acquiring an additional 1,131 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in CNX Resources by 3.5% during the third quarter. Sequoia Financial Advisors LLC now owns 13,135 shares of the oil and gas producer's stock valued at $428,000 after purchasing an additional 442 shares during the last quarter. Finally, Private Advisor Group LLC bought a new position in CNX Resources in the third quarter valued at approximately $222,000. Institutional investors and hedge funds own 95.16% of the company's stock.

CNX Resources Stock Performance

NYSE:CNX traded down $0.62 during mid-day trading on Thursday, hitting $29.66. 2,615,472 shares of the stock were exchanged, compared to its average volume of 3,969,581. 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's 50-day simple moving average is $31.92 and its 200 day simple moving average is $32.56. CNX Resources Co. has a fifty-two week low of $19.97 and a fifty-two week high of $41.93. The stock has a market capitalization of $4.41 billion, a price-to-earnings ratio of -43.61, a price-to-earnings-growth ratio of 0.40 and a beta of 1.38.

CNX Resources (NYSE:CNX - Get Free Report) last announced its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share (EPS) for the quarter, beating 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, equities analysts anticipate that CNX Resources Co. will post 2.36 EPS for the current fiscal year.

Insider Buying and Selling at CNX Resources

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of CNX Resources stock in a transaction 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 completion of the transaction, the insider now directly owns 13,925,000 shares of the company's stock, valued at $432,928,250. The trade was a 7.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CNX. TD Cowen initiated coverage on CNX Resources in a research note on Wednesday, January 15th. They set a "hold" rating and a $27.00 price objective on the stock. Mizuho cut their price target 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 research report on Tuesday. Piper Sandler dropped their target price on shares of CNX Resources from $23.00 to $22.00 and set an "underweight" rating on the stock in a report on Wednesday, January 29th. Finally, Stephens lifted their price target on CNX Resources from $26.00 to $35.00 and gave the stock an "equal weight" rating in a report on Friday, October 25th. Nine equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Reduce" and an average price target of $29.67.

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.