Carnegie Lake Advisors LLC Sells 100,700 Shares of CNX Resources Co. (NYSE:CNX)

Carnegie Lake Advisors LLC cut its holdings in CNX Resources Co. (NYSE:CNX) by 42.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 136,250 shares of the oil and gas producer’s stock after selling 100,700 shares during the period. CNX Resources comprises approximately 2.0% of Carnegie Lake Advisors LLC’s portfolio, making the stock its 12th largest holding. Carnegie Lake Advisors LLC’s holdings in CNX Resources were worth $4,996,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Sequoia Financial Advisors LLC grew its holdings in shares of CNX Resources by 3.5% in the third quarter. Sequoia Financial Advisors LLC now owns 13,135 shares of the oil and gas producer’s stock worth $428,000 after purchasing an additional 442 shares during the last quarter. SeaBridge Investment Advisors LLC grew its holdings in 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 acquiring an additional 759 shares during the last quarter. CWM LLC increased its position in shares of CNX Resources by 77.0% in the third quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock valued at $70,000 after acquiring an additional 935 shares during the period. Blue Trust Inc. raised its stake in shares of CNX Resources by 135.4% during the third quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer’s stock valued at $64,000 after acquiring an additional 1,131 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of CNX Resources by 62.1% during the third quarter. GAMMA Investing LLC now owns 3,073 shares of the oil and gas producer’s stock worth $100,000 after purchasing an additional 1,177 shares during the period. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at CNX Resources

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 13,925,000 shares of the company’s stock, valued at approximately $432,928,250. The trade was 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 owned by insiders.

CNX Resources Price Performance

Shares of NYSE CNX opened at $30.71 on Tuesday. The company has a 50 day simple moving average of $33.00 and a two-hundred day simple moving average of $32.39. CNX Resources Co. has a fifty-two week low of $19.07 and a fifty-two week high of $41.93. The company has a market capitalization of $4.58 billion, a price-to-earnings ratio of -45.16, a P/E/G 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 (NYSE:CNX) last posted its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.14. CNX Resources had a positive return on equity of 6.72% and a negative net margin of 7.14%. Analysts expect that CNX Resources Co. will post 2.36 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CNX shares. TD Cowen initiated coverage on CNX Resources in a report on Wednesday, January 15th. They set a “hold” rating and a $27.00 price target on the stock. Morgan Stanley assumed coverage on CNX Resources in a research note on Friday, January 10th. They set an “underweight” rating and a $29.00 target price on the stock. Bank of America began coverage on shares of CNX Resources in a report on Monday, October 28th. They issued an “underperform” rating and a $34.00 price target on the stock. Capital One Financial lowered shares of CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 price objective for the company. in a report on Monday, October 14th. Finally, Truist Financial lifted their target price on shares of CNX Resources from $34.00 to $35.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Eight analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $29.67.

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.