Peregrine Capital Management LLC Sells 83,962 Shares of CNX Resources Co. (NYSE:CNX)

Peregrine Capital Management LLC lowered its stake in shares of CNX Resources Co. (NYSE:CNX) by 33.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 166,412 shares of the oil and gas producer’s stock after selling 83,962 shares during the period. Peregrine Capital Management LLC owned approximately 0.11% of CNX Resources worth $6,102,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in CNX. Sequoia Financial Advisors LLC raised its stake in CNX Resources by 3.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 13,135 shares of the oil and gas producer’s stock worth $428,000 after buying an additional 442 shares during the period. Principal Securities Inc. raised its position in shares of CNX Resources by 38.5% during the fourth quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer’s stock worth $91,000 after purchasing an additional 691 shares during the period. SeaBridge Investment Advisors LLC lifted its holdings in shares of CNX Resources by 0.8% in the 4th quarter. SeaBridge Investment Advisors LLC now owns 90,301 shares of the oil and gas producer’s stock worth $3,311,000 after purchasing an additional 759 shares in the last quarter. CWM LLC grew its position in CNX Resources by 77.0% in the 3rd quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock valued at $70,000 after purchasing an additional 935 shares during the period. Finally, Blue Trust Inc. increased its stake in CNX Resources by 135.4% during the 3rd quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer’s stock valued at $64,000 after purchasing an additional 1,131 shares in the last quarter. Institutional investors own 95.16% of the company’s stock.

Insider Buying and Selling at CNX Resources

In other news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of CNX Resources stock in a transaction dated 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CNX. Raymond James upgraded shares of CNX Resources from an “underperform” rating to a “market perform” rating in a report on Tuesday. StockNews.com lowered CNX Resources from a “hold” rating to a “sell” rating in a report on Thursday, February 13th. Truist Financial raised their target price on CNX Resources from $34.00 to $35.00 and gave the company a “hold” rating in a report on Friday, December 6th. Bank of America assumed coverage on CNX Resources in a research report on Monday, October 28th. They set an “underperform” rating and a $34.00 target price on the stock. Finally, Piper Sandler dropped their price objective on CNX Resources from $23.00 to $22.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 29th. Nine analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $29.67.

CNX Resources Stock Performance

NYSE CNX opened at $30.50 on Wednesday. The company has a market capitalization of $4.54 billion, a PE ratio of -44.84, a price-to-earnings-growth ratio of 0.39 and a beta of 1.38. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.32 and a current ratio of 0.33. CNX Resources Co. has a 52-week low of $19.58 and a 52-week high of $41.93. The company has a 50-day simple moving average of $32.09 and a 200 day simple moving average of $32.57.

CNX Resources (NYSE:CNX) last issued its quarterly earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share (EPS) for the quarter, topping 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%. On average, research analysts predict that CNX Resources Co. will post 2.36 EPS for the current year.

CNX Resources Company 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.