Victory Capital Management Inc. Sells 16,752 Shares of CNX Resources Co. (NYSE:CNX)

Victory Capital Management Inc. lessened its holdings in CNX Resources Co. (NYSE:CNX - Free Report) by 17.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,220 shares of the oil and gas producer's stock after selling 16,752 shares during the quarter. Victory Capital Management Inc. owned 0.05% of CNX Resources worth $2,978,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in CNX. Oppenheimer Asset Management Inc. purchased a new stake in CNX Resources during the third quarter worth about $205,000. Natixis Advisors LLC grew its position in shares of 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. increased its stake 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 worth $20,087,000 after purchasing an additional 466,694 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of CNX Resources by 12.2% in 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 purchasing an additional 202,890 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in CNX Resources by 231.9% in the third quarter. BNP Paribas Financial Markets now owns 104,361 shares of the oil and gas producer's stock valued at $3,399,000 after purchasing an additional 72,914 shares during the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity at CNX Resources

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the 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 trade represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on CNX shares. Stephens upgraded CNX Resources from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $35.00 to $48.00 in a research note on Tuesday. StockNews.com downgraded shares of CNX Resources from a "hold" rating to a "sell" rating in a report on Thursday, February 13th. Piper Sandler reduced their target price on shares of CNX Resources from $23.00 to $22.00 and set an "underweight" rating for the company in a research note on Wednesday, January 29th. Truist Financial upped their price target 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. Finally, JPMorgan Chase & Co. boosted their target price on shares of CNX Resources from $32.00 to $33.00 and gave the company an "underweight" rating in a report on Thursday, March 13th. Nine analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $30.38.

CNX Resources Price Performance

Shares of CNX Resources stock traded down $0.46 on Thursday, hitting $31.98. 1,295,866 shares of the company traded hands, compared to its average volume of 2,625,068. CNX Resources Co. has a 12-month low of $21.29 and a 12-month high of $41.93. The firm's 50-day simple moving average is $29.66 and its 200 day simple moving average is $33.03. The company has a market cap of $4.76 billion, a P/E ratio of -47.13, 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 (NYSE:CNX - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share for the quarter, beating analysts' consensus estimates 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%. Analysts expect that CNX Resources Co. will post 2.18 earnings per share for the current fiscal year.

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.