Natixis Advisors LLC decreased its position in shares of CNX Resources Co. (NYSE:CNX - Free Report) by 20.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,192 shares of the oil and gas producer's stock after selling 8,452 shares during the quarter. Natixis Advisors LLC's holdings in CNX Resources were worth $1,217,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in CNX. Principal Securities Inc. raised its holdings in CNX Resources by 38.5% in the 4th quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer's stock worth $91,000 after purchasing an additional 691 shares during the period. SeaBridge Investment Advisors LLC increased its position in shares of CNX Resources by 0.8% in the fourth quarter. SeaBridge Investment Advisors LLC now owns 90,301 shares of the oil and gas producer's stock valued at $3,311,000 after buying an additional 759 shares in the last quarter. Blue Trust Inc. raised its stake in shares of CNX Resources by 65.1% during the 4th quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer's stock worth $119,000 after buying an additional 1,280 shares during the period. KBC Group NV lifted its position in shares of CNX Resources by 41.0% during the 4th quarter. KBC Group NV now owns 6,216 shares of the oil and gas producer's stock valued at $228,000 after buying an additional 1,806 shares in the last quarter. Finally, HighTower Advisors LLC grew its stake in CNX Resources by 6.9% in the 4th quarter. HighTower Advisors LLC now owns 29,168 shares of the oil and gas producer's stock valued at $1,070,000 after acquiring an additional 1,879 shares during the period. 95.16% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
CNX has been the subject of a number of research analyst reports. TD Cowen started coverage on shares of CNX Resources in a research report on Wednesday, January 15th. They set a "hold" rating and a $27.00 price objective for the company. Stephens upgraded CNX Resources from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $35.00 to $48.00 in a research report on Tuesday, March 18th. Raymond James upgraded CNX Resources from an "underperform" rating to a "market perform" rating in a report on Tuesday, February 18th. Mizuho lowered 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 note on Tuesday, January 14th. Finally, Truist Financial increased their target price on shares of CNX Resources from $34.00 to $35.00 and gave the company a "hold" rating in a research report on Friday, December 6th. Nine analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, CNX Resources has a consensus rating of "Hold" and an average target price of $30.69.
Read Our Latest Research Report on CNX
Insider Activity at CNX Resources
In related news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the firm's stock in a transaction dated 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 transaction, the insider now directly 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 legal filing with the SEC, which is available through this link. 3.10% of the stock is owned by insiders.
CNX Resources Trading Up 0.6 %
Shares of NYSE CNX traded up $0.18 during midday trading on Friday, reaching $31.66. 1,105,289 shares of the stock were exchanged, compared to its average volume of 2,663,598. The stock has a market capitalization of $4.66 billion, a P/E ratio of -46.56, 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 company has a 50 day simple moving average of $29.84 and a 200 day simple moving average of $33.26. CNX Resources Co. has a twelve month low of $22.82 and a twelve 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 (EPS) for the quarter, topping the consensus estimate 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, equities analysts expect that CNX Resources Co. will post 2.18 earnings per share for the current year.
CNX Resources 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.
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