Securian Asset Management Inc. Sells 475 Shares of CNX Resources Co. (NYSE:CNX)

Securian Asset Management Inc. lowered its stake in shares of CNX Resources Co. (NYSE:CNX) by 4.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,284 shares of the oil and gas producer’s stock after selling 475 shares during the quarter. Securian Asset Management Inc.’s holdings in CNX Resources were worth $414,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its stake in CNX Resources by 2.8% during the third quarter. Victory Capital Management Inc. now owns 97,972 shares of the oil and gas producer’s stock worth $3,191,000 after purchasing an additional 2,663 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of CNX Resources during the 3rd quarter valued at about $205,000. Natixis Advisors LLC lifted its position in 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 during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted 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 buying an additional 466,694 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in 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 valued at $60,607,000 after acquiring an additional 202,890 shares during the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

CNX Resources Price Performance

Shares of CNX Resources stock opened at $30.69 on Tuesday. The company has a market cap of $4.57 billion, a PE ratio of -45.13, a P/E/G ratio of 0.42 and a beta of 1.26. The business has a 50 day moving average of $29.61 and a 200 day moving average of $33.01. CNX Resources Co. has a 52 week low of $21.07 and a 52 week high of $41.93. The company has a quick ratio of 0.32, a current ratio of 0.33 and a debt-to-equity ratio of 0.45.

CNX Resources (NYSE:CNX) last issued its quarterly earnings data 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 forecast that CNX Resources Co. will post 2.18 earnings per share for the current year.

Insider Buying and Selling

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 13,925,000 shares in the company, valued at approximately $432,928,250. This represents a 7.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CNX shares. Roth Capital set a $30.00 price objective on shares of CNX Resources in a research note on Thursday, January 23rd. 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 report on Friday, December 6th. StockNews.com cut CNX Resources from a “hold” rating to a “sell” rating in a research note on Thursday, February 13th. Morgan Stanley started coverage on CNX Resources in a research note on Friday, January 10th. They issued an “underweight” rating and a $29.00 target price for the company. Finally, Raymond James upgraded CNX Resources from an “underperform” rating to a “market perform” rating in a research 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 stock. According to MarketBeat, CNX Resources has a consensus rating of “Reduce” and an average price target of $29.38.

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.