CNX Resources Co. (NYSE:CNX) Shares Sold by Arkadios Wealth Advisors

Arkadios Wealth Advisors lowered its stake in shares of CNX Resources Co. (NYSE:CNX) by 4.8% during the fourth quarter, Holdings Channel reports. The fund owned 12,585 shares of the oil and gas producer’s stock after selling 628 shares during the period. Arkadios Wealth Advisors’ holdings in CNX Resources were worth $461,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Geode Capital Management LLC increased its holdings in 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 worth $117,366,000 after purchasing an additional 12,333 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of CNX Resources by 12.2% during 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 buying an additional 202,890 shares during the period. Aureus Asset Management LLC raised its holdings 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted 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 worth $20,087,000 after acquiring an additional 466,694 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in CNX Resources by 197.0% during the 2nd quarter. Renaissance Technologies LLC now owns 466,016 shares of the oil and gas producer’s stock worth $11,324,000 after acquiring an additional 309,100 shares in the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at CNX Resources

In related news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the stock in a transaction on 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 sale, the insider now directly owns 13,925,000 shares of the company’s stock, valued at $432,928,250. This trade represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 4.65% of the company’s stock.

CNX Resources Stock Down 0.6 %

Shares of NYSE:CNX opened at $29.97 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.37 and a quick ratio of 0.36. The stock has a market cap of $4.47 billion, a P/E ratio of 9.42, a P/E/G ratio of 0.48 and a beta of 1.42. CNX Resources Co. has a 1-year low of $19.07 and a 1-year high of $41.93. The firm has a fifty day moving average price of $36.16 and a 200 day moving average price of $32.11.

CNX Resources (NYSE:CNX) last released its quarterly earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.09. The firm had revenue of $424.21 million for the quarter, compared to analyst estimates of $398.33 million. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. During the same quarter last year, the company posted $0.35 earnings per share. Sell-side analysts predict that CNX Resources Co. will post 1.59 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CNX shares. Truist Financial raised their price objective on shares of CNX Resources from $34.00 to $35.00 and gave the company a “hold” rating in a report on Friday, December 6th. Mizuho decreased their price target on CNX Resources from $38.00 to $34.00 and set an “underperform” rating for the company in a report on Tuesday, January 14th. Stephens increased their price objective on CNX Resources from $26.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. BMO Capital Markets boosted their target price on CNX Resources from $26.00 to $29.00 and gave the stock a “market perform” rating in a research note on Friday, October 4th. Finally, TD Cowen started coverage on CNX Resources in a report on Wednesday, January 15th. They issued a “hold” rating and a $27.00 price target for the company. Nine analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat.com, CNX Resources has a consensus rating of “Reduce” and an average price target of $29.75.

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.