Peregrine Capital Management LLC Reduces Stock Position in CNX Resources Co. (NYSE:CNX)

Peregrine Capital Management LLC lessened its stake in CNX Resources Co. (NYSE:CNX - Free Report) by 33.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 166,412 shares of the oil and gas producer's stock after selling 83,962 shares during the quarter. Peregrine Capital Management LLC owned 0.11% of CNX Resources worth $6,102,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in shares of CNX Resources by 0.3% during the third quarter. Geode Capital Management LLC now owns 3,602,837 shares of the oil and gas producer's stock worth $117,366,000 after buying an additional 12,333 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in CNX Resources by 12.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,860,817 shares of the oil and gas producer's stock valued at $60,607,000 after acquiring an additional 202,890 shares during the last quarter. Aureus Asset Management LLC boosted its stake in CNX Resources by 0.6% in the third quarter. Aureus Asset Management LLC now owns 642,289 shares of the oil and gas producer's stock valued at $20,919,000 after buying an additional 3,659 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in CNX Resources by 311.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 616,734 shares of the oil and gas producer's stock valued at $20,087,000 after buying an additional 466,694 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in CNX Resources by 1.3% in the fourth quarter. Rhumbline Advisers now owns 494,625 shares of the oil and gas producer's stock valued at $18,138,000 after buying an additional 6,404 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company's stock.

Insider Transactions at CNX Resources

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the business's 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 transaction, the insider now owns 13,925,000 shares of the company's stock, valued at approximately $432,928,250. The trade was a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.10% of the company's stock.

CNX Resources Stock Down 0.4 %

Shares of CNX traded down $0.10 on Friday, reaching $29.51. The company's stock had a trading volume of 2,966,066 shares, compared to its average volume of 3,940,064. The firm has a fifty day moving average of $31.75 and a 200-day moving average of $32.54. CNX Resources Co. has a twelve month low of $20.30 and a twelve month high of $41.93. The stock has a market capitalization of $4.39 billion, a PE ratio of -43.39, a PEG ratio of 0.40 and a beta of 1.38. 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 (NYSE:CNX - Get Free Report) last announced its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 EPS 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%. Equities analysts predict that CNX Resources Co. will post 2.36 EPS for the current year.

Analysts Set New Price Targets

CNX has been the topic of several recent research reports. Bank of America initiated coverage on CNX Resources in a report on Monday, October 28th. They set an "underperform" rating and a $34.00 price objective on the stock. StockNews.com downgraded CNX Resources from a "hold" rating to a "sell" rating in a research note on Thursday, February 13th. Raymond James raised CNX Resources from an "underperform" rating to a "market perform" rating in a research note on Tuesday. Stephens lifted their price target on shares of CNX Resources from $26.00 to $35.00 and gave the stock an "equal weight" rating in a report on Friday, October 25th. Finally, Truist Financial lifted their price target on shares of CNX Resources from $34.00 to $35.00 and gave the stock a "hold" rating in a report on Friday, December 6th. Nine analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat, the company has an average rating of "Reduce" and a consensus target price of $29.67.

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.