Petra Financial Advisors Inc. Sells 12,459 Shares of CNX Resources Co. (NYSE:CNX)

Petra Financial Advisors Inc. cut its holdings in CNX Resources Co. (NYSE:CNX - Free Report) by 17.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,872 shares of the oil and gas producer's stock after selling 12,459 shares during the quarter. CNX Resources accounts for approximately 1.5% of Petra Financial Advisors Inc.'s holdings, making the stock its 16th largest position. Petra Financial Advisors Inc.'s holdings in CNX Resources were worth $2,196,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CNX. Victory Capital Management Inc. lifted its holdings in shares of CNX Resources by 2.8% during the third quarter. Victory Capital Management Inc. now owns 97,972 shares of the oil and gas producer's stock valued at $3,191,000 after purchasing an additional 2,663 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in CNX Resources in the 3rd quarter worth about $205,000. Natixis Advisors LLC lifted its stake in CNX Resources by 3.1% during the 3rd quarter. Natixis Advisors LLC now owns 41,644 shares of the oil and gas producer's stock valued at $1,356,000 after acquiring an additional 1,241 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of CNX Resources by 311.0% during the 3rd 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 acquiring an additional 466,694 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of 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 worth $60,607,000 after acquiring an additional 202,890 shares during the period. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

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CNX Resources Price Performance

Shares of NYSE:CNX traded down $0.24 during trading on Friday, hitting $31.79. 2,789,663 shares of the company's stock were exchanged, compared to its average volume of 2,618,475. The business's 50-day simple moving average is $29.68 and its 200 day simple moving average is $33.02. The company has a market cap of $4.73 billion, a price-to-earnings ratio of -46.75, a PEG ratio of 0.42 and a beta of 1.26. CNX Resources Co. has a 52-week low of $22.25 and a 52-week high of $41.93. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32.

CNX Resources (NYSE:CNX - Get Free Report) last announced its quarterly earnings data 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 predict that CNX Resources Co. will post 2.18 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CNX shares. JPMorgan Chase & Co. increased their price objective on shares of CNX Resources from $32.00 to $33.00 and gave the company an "underweight" rating in a research report on Thursday, March 13th. Roth Capital set a $30.00 price target on CNX Resources in a research note on Thursday, January 23rd. Mizuho reduced their price objective on CNX Resources from $38.00 to $34.00 and set an "underperform" rating for the company in a research report on Tuesday, January 14th. Morgan Stanley began coverage on CNX Resources in a research report on Friday, January 10th. They issued an "underweight" rating and a $29.00 target price on the stock. Finally, Raymond James raised shares of CNX Resources from an "underperform" rating to a "market perform" rating in a report on Tuesday, February 18th. Nine investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, CNX Resources presently has a consensus rating of "Hold" and an average target price of $30.38.

Insider Activity 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 shares were 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 in the company, valued at $432,928,250. The trade was a 7.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.10% of the stock is currently owned by corporate insiders.

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.