Levin Capital Strategies L.P. Sells 20,000 Shares of CNX Resources Co. (NYSE:CNX)

Levin Capital Strategies L.P. trimmed its holdings in CNX Resources Co. (NYSE:CNX - Free Report) by 11.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 155,987 shares of the oil and gas producer's stock after selling 20,000 shares during the quarter. Levin Capital Strategies L.P. owned about 0.10% of CNX Resources worth $5,720,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Principal Securities Inc. raised its stake in shares of CNX Resources by 38.5% in the fourth quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer's stock worth $91,000 after acquiring an additional 691 shares during the last quarter. Blue Trust Inc. raised its position in CNX Resources by 65.1% in the 4th quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer's stock worth $119,000 after purchasing an additional 1,280 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in CNX Resources during the 4th quarter worth $121,000. Oppenheimer Asset Management Inc. bought a new position in CNX Resources in the 3rd quarter valued at $205,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in CNX Resources in the 3rd quarter valued at $209,000. Institutional investors and hedge funds own 95.16% of the company's stock.

CNX Resources Trading Down 1.1 %

Shares of CNX stock traded down $0.31 on Monday, hitting $28.59. The stock had a trading volume of 3,083,482 shares, compared to its average volume of 3,812,660. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 0.45. CNX Resources Co. has a twelve month low of $21.00 and a twelve month high of $41.93. The company has a fifty day moving average price of $30.78 and a two-hundred day moving average price of $32.82. The firm has a market cap of $4.26 billion, a P/E ratio of -42.04, a PEG ratio of 0.42 and a beta of 1.38.

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 (EPS) for the quarter, beating 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, analysts forecast that CNX Resources Co. will post 2.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CNX. StockNews.com lowered CNX Resources from a "hold" rating to a "sell" rating in a research note on Thursday, February 13th. Mizuho cut their target price on shares of CNX Resources from $38.00 to $34.00 and set an "underperform" rating on the stock in a research report on Tuesday, January 14th. Roth Capital set a $30.00 target price on shares of CNX Resources in a research note on Thursday, January 23rd. Morgan Stanley started coverage on shares of CNX Resources in a research note on Friday, January 10th. They set an "underweight" rating and a $29.00 price target for the company. Finally, TD Cowen began coverage on shares of CNX Resources in a research note on Wednesday, January 15th. They issued a "hold" rating and a $27.00 price objective on the stock. Nine analysts have rated the stock with a sell rating and seven have given a hold rating to the company's stock. According to MarketBeat, CNX Resources currently has a consensus rating of "Reduce" and an average target price of $29.69.

Insiders Place Their Bets

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. Corporate insiders own 3.10% of the company's stock.

About CNX Resources

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.