US Bancorp DE Sells 13,988 Shares of CNX Resources Co. (NYSE:CNX)

US Bancorp DE reduced its stake in CNX Resources Co. (NYSE:CNX - Free Report) by 35.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,847 shares of the oil and gas producer's stock after selling 13,988 shares during the quarter. US Bancorp DE's holdings in CNX Resources were worth $948,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CNX. Geode Capital Management LLC lifted its position in shares of CNX Resources by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,602,837 shares of the oil and gas producer's stock valued at $117,366,000 after acquiring an additional 12,333 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of CNX Resources by 12.2% during the 3rd 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. Aureus Asset Management LLC increased 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 acquiring an additional 3,659 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in CNX Resources by 311.0% during 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 purchasing an additional 466,694 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of CNX Resources by 1.3% in the 4th quarter. Rhumbline Advisers now owns 494,625 shares of the oil and gas producer's stock valued at $18,138,000 after purchasing an additional 6,404 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

CNX has been the subject of a number of research analyst reports. Raymond James upgraded shares of CNX Resources from an "underperform" rating to a "market perform" rating in a research report on Tuesday, February 18th. Morgan Stanley initiated coverage on CNX Resources in a research note on Friday, January 10th. They set an "underweight" rating and a $29.00 price target on the stock. JPMorgan Chase & Co. downgraded shares of CNX Resources from a "neutral" rating to an "underweight" rating and lifted their price objective for the stock from $31.00 to $37.00 in a report on Thursday, December 5th. TD Cowen started 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 for the company. Finally, 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. Nine research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average price target of $29.69.

CNX Resources Stock Down 1.7 %

CNX traded down $0.51 during trading on Tuesday, reaching $30.09. The stock had a trading volume of 1,044,190 shares, compared to its average volume of 2,657,875. The stock's 50 day moving average is $30.09 and its two-hundred day moving average is $32.92. The company has a market capitalization of $4.48 billion, a price-to-earnings ratio of -44.18, a P/E/G ratio of 0.42 and a beta of 1.26. 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 one year low of $21.00 and a one year high of $41.93.

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 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%. As a group, analysts expect that CNX Resources Co. will post 2.18 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the firm'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 completion of the transaction, the insider now directly owns 13,925,000 shares of the company's stock, valued at approximately $432,928,250. This trade represents a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.10% of the stock is owned by insiders.

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.