Mfn Partners, Lp Sells 1,075,000 Shares of CNX Resources Co. (NYSE:CNX) Stock

CNX Resources Co. (NYSE:CNX - Get Free Report) major shareholder Mfn Partners, Lp sold 1,075,000 shares of CNX Resources stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $31.09, for a total transaction of $33,421,750.00. Following the transaction, the insider now directly owns 13,925,000 shares in the company, valued at $432,928,250. This represents a 7.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

CNX Resources Trading Up 2.3 %

Shares of NYSE:CNX traded up $0.71 during trading on Wednesday, reaching $31.20. The company's stock had a trading volume of 5,790,913 shares, compared to its average volume of 6,913,303. The stock has a market capitalization of $4.66 billion, a PE ratio of 9.81, a price-to-earnings-growth ratio of 1.85 and a beta of 1.42. CNX Resources Co. has a 12 month low of $19.07 and a 12 month high of $41.93. The company has a current ratio of 0.37, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46. The firm's 50 day simple moving average is $37.29 and its two-hundred day simple moving average is $31.69.

CNX Resources (NYSE:CNX - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.09. The business had revenue of $424.21 million during the quarter, compared to analyst estimates of $398.33 million. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. During the same period last year, the company earned $0.35 EPS. On average, research analysts predict that CNX Resources Co. will post 1.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CNX shares. Tudor, Pickering, Holt & Co. downgraded CNX Resources from a "hold" rating to a "sell" rating in a research report on Tuesday, October 1st. Piper Sandler boosted their price target on CNX Resources from $20.00 to $23.00 and gave the stock an "underweight" rating in a report on Friday, December 6th. Capital One Financial lowered shares of CNX Resources from an "overweight" rating to an "equal weight" rating and set a $25.00 price objective for the company. in a report on Monday, October 14th. Bank of America initiated coverage on shares of CNX Resources in a report on Monday, October 28th. They issued an "underperform" rating and a $34.00 target price on the stock. Finally, Truist Financial raised their target price on shares of CNX Resources from $34.00 to $35.00 and gave the company a "hold" rating in a research note on Friday, December 6th. Eight research analysts have rated the stock with a sell rating and five have given a hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus target price of $30.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CNX. Sequoia Financial Advisors LLC lifted its stake in shares of CNX Resources by 3.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 13,135 shares of the oil and gas producer's stock worth $428,000 after acquiring an additional 442 shares during the last quarter. CWM LLC lifted its position 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 worth $70,000 after purchasing an additional 935 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in shares of CNX Resources by 3.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 29,307 shares of the oil and gas producer's stock valued at $712,000 after purchasing an additional 941 shares during the period. Blue Trust Inc. boosted its stake in shares of 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 valued at $64,000 after purchasing an additional 1,131 shares during the period. Finally, GAMMA Investing LLC increased its stake in CNX Resources by 62.1% in the 3rd quarter. GAMMA Investing LLC now owns 3,073 shares of the oil and gas producer's stock worth $100,000 after buying an additional 1,177 shares during the period. 95.16% of the stock is owned by hedge funds and other institutional investors.

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.