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

Levin Capital Strategies L.P. trimmed its position in CNX Resources Co. (NYSE:CNX) by 11.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 155,987 shares of the oil and gas producer’s stock after selling 20,000 shares during the quarter. Levin Capital Strategies L.P. owned approximately 0.10% of CNX Resources worth $5,720,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Geode Capital Management LLC grew its stake in CNX Resources by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,602,837 shares of the oil and gas producer’s stock valued at $117,366,000 after buying an additional 12,333 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in CNX Resources by 12.2% in the 3rd 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 buying an additional 202,890 shares during the last quarter. Aureus Asset Management LLC grew its stake in CNX Resources by 0.6% in the 3rd quarter. Aureus Asset Management LLC now owns 642,289 shares of the oil and gas producer’s stock valued at $20,919,000 after buying an additional 3,659 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in CNX Resources by 311.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 616,734 shares of the oil and gas producer’s stock valued at $20,087,000 after buying an additional 466,694 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in CNX Resources by 1.3% in the 4th quarter. Rhumbline Advisers now owns 494,625 shares of the oil and gas producer’s stock valued at $18,138,000 after buying an additional 6,404 shares during the last quarter. 95.16% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on CNX shares. TD Cowen started coverage on shares of CNX Resources in a research note on Wednesday, January 15th. They issued a “hold” rating and a $27.00 price target on the stock. JPMorgan Chase & Co. lowered shares of CNX Resources from a “neutral” rating to an “underweight” rating and increased their target price for the stock from $31.00 to $37.00 in a research report on Thursday, December 5th. Truist Financial increased their target price on shares of CNX Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. StockNews.com lowered shares of CNX Resources from a “hold” rating to a “sell” rating in a research report on Thursday, February 13th. Finally, Piper Sandler reduced their price target on shares of CNX Resources from $23.00 to $22.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 29th. Nine equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $29.69.

Insider Activity at CNX Resources

In related news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $432,928,250. This represents a 7.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.10% of the stock is owned by insiders.

CNX Resources Price Performance

Shares of NYSE:CNX opened at $28.91 on Friday. The company has a market cap of $4.30 billion, a price-to-earnings ratio of -42.51, a PEG 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. The firm has a 50 day simple moving average of $30.94 and a 200 day simple moving average of $32.76. CNX Resources Co. has a one year low of $20.76 and a one year high of $41.93.

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, beating 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%. Research analysts predict that CNX Resources Co. will post 2.18 earnings per share 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.