Amalgamated Bank Decreases Stake in CNX Resources Co. (NYSE:CNX)

Amalgamated Bank lessened its position in shares of CNX Resources Co. (NYSE:CNX) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,189 shares of the oil and gas producer’s stock after selling 1,132 shares during the quarter. Amalgamated Bank’s holdings in CNX Resources were worth $2,500,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Principal Securities Inc. boosted its position in shares of CNX Resources by 38.5% during the 4th quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer’s stock valued at $91,000 after acquiring an additional 691 shares during the last quarter. SeaBridge Investment Advisors LLC raised its stake in CNX Resources by 0.8% during the fourth quarter. SeaBridge Investment Advisors LLC now owns 90,301 shares of the oil and gas producer’s stock valued at $3,311,000 after purchasing an additional 759 shares in the last quarter. State of Alaska Department of Revenue lifted its position in CNX Resources by 7.2% during the third quarter. State of Alaska Department of Revenue now owns 17,662 shares of the oil and gas producer’s stock valued at $575,000 after purchasing an additional 1,190 shares during the last quarter. Natixis Advisors LLC grew its stake in shares of CNX Resources by 3.1% in the 3rd quarter. Natixis Advisors LLC now owns 41,644 shares of the oil and gas producer’s stock worth $1,356,000 after buying an additional 1,241 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of CNX Resources by 65.1% in the 4th quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer’s stock worth $119,000 after buying an additional 1,280 shares during the last quarter. Institutional investors own 95.16% of the company’s stock.

Insiders Place Their Bets

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $31.09, for a total value of $33,421,750.00. Following the completion of the sale, the insider now directly owns 13,925,000 shares in the company, valued at approximately $432,928,250. This represents a 7.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on CNX. Raymond James raised shares of CNX Resources from an “underperform” rating to a “market perform” rating in a report on Tuesday, February 18th. Roth Capital set a $30.00 price objective on CNX Resources in a research note on Thursday, January 23rd. Piper Sandler cut their target price on CNX Resources from $23.00 to $22.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 29th. StockNews.com lowered CNX Resources from a “hold” rating to a “sell” rating in a report on Thursday, February 13th. Finally, Mizuho dropped their price objective on shares of CNX Resources from $38.00 to $34.00 and set an “underperform” rating for the company in a research note on Tuesday, January 14th. Nine research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $29.69.

CNX Resources Trading Up 0.9 %

CNX stock opened at $28.91 on Friday. CNX Resources Co. has a 12 month low of $20.76 and a 12 month high of $41.93. The firm’s 50-day moving average is $30.94 and its 200 day moving average is $32.76. The company has a market capitalization of $4.30 billion, a PE ratio of -42.51, a P/E/G ratio of 0.42 and a beta of 1.38. 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) last issued its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 EPS for the quarter, topping 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%. On average, research analysts anticipate that CNX Resources Co. will post 2.18 EPS for the current 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.