Levin Capital Strategies L.P. Sells 20,000 Shares of CNX Resources Co. (NYSE:CNX)

Levin Capital Strategies L.P. lowered its holdings in shares of CNX Resources Co. (NYSE:CNX) by 11.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 155,987 shares of the oil and gas producer’s stock after selling 20,000 shares during the period. Levin Capital Strategies L.P.’s holdings in CNX Resources were worth $5,720,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of 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 worth $20,087,000 after buying an additional 466,694 shares during the period. Empirical Asset Management LLC acquired a new stake in shares of CNX Resources during the fourth quarter worth $9,281,000. Charles Schwab Investment Management Inc. increased its position 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. Empowered Funds LLC increased its position in shares of CNX Resources by 328.0% during the fourth quarter. Empowered Funds LLC now owns 211,719 shares of the oil and gas producer’s stock worth $7,764,000 after buying an additional 162,247 shares during the period. Finally, Entropy Technologies LP increased its position in shares of CNX Resources by 493.9% during the fourth quarter. Entropy Technologies LP now owns 94,657 shares of the oil and gas producer’s stock worth $3,471,000 after buying an additional 78,719 shares during the period. Institutional investors own 95.16% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the business’s stock in a transaction dated 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 approximately $432,928,250. The trade was a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. TD Cowen assumed coverage on shares of CNX Resources in a report on Wednesday, January 15th. They issued a “hold” rating and a $27.00 price target for the company. StockNews.com cut shares of CNX Resources from a “hold” rating to a “sell” rating in a report on Thursday, February 13th. Mizuho reduced their price target on shares of CNX Resources from $38.00 to $34.00 and set an “underperform” rating for the company in a report on Tuesday, January 14th. Morgan Stanley assumed coverage on shares of CNX Resources in a report on Friday, January 10th. They issued an “underweight” rating and a $29.00 price target for the company. Finally, Raymond James upgraded shares of CNX Resources from an “underperform” rating to a “market perform” rating in a report on Tuesday, February 18th. Nine research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $29.69.

CNX Resources Trading Up 0.9 %

NYSE:CNX opened at $28.91 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32. The firm has a 50-day moving average of $30.94 and a 200-day moving average of $32.76. The company has a market cap of $4.30 billion, a PE ratio of -42.51, a PEG ratio of 0.42 and a beta of 1.38. CNX Resources Co. has a one year low of $20.76 and a one year high of $41.93.

CNX Resources (NYSE:CNX) last posted its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 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%. As a group, equities research analysts expect that CNX Resources Co. will post 2.18 EPS for the current fiscal year.

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.