CNX Resources Co. (NYSE:CNX) Shares Sold by Sciencast Management LP

Sciencast Management LP lowered its position in shares of CNX Resources Co. (NYSE:CNX) by 56.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,894 shares of the oil and gas producer’s stock after selling 8,995 shares during the period. Sciencast Management LP’s holdings in CNX Resources were worth $253,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Harvest Fund Management Co. Ltd acquired a new position in CNX Resources in the 4th quarter valued at about $39,000. VSM Wealth Advisory LLC acquired a new position in CNX Resources in the 4th quarter valued at about $55,000. Principal Securities Inc. increased its position in CNX Resources by 38.5% in 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 period. Blue Trust Inc. increased its position in 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 valued at $119,000 after acquiring an additional 1,280 shares during the period. Finally, Heck Capital Advisors LLC acquired a new position in CNX Resources in the 4th quarter valued at about $121,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insider Activity at CNX Resources

In related 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 value of $33,421,750.00. Following the sale, the insider now owns 13,925,000 shares of the company’s stock, valued at approximately $432,928,250. This represents a 7.17 % decrease in their position. The transaction 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 corporate insiders.

CNX Resources Price Performance

Shares of NYSE:CNX opened at $31.79 on Monday. The business’s 50 day simple moving average is $29.71 and its 200-day simple moving average is $33.14. The firm has a market capitalization of $4.73 billion, a price-to-earnings ratio of -46.75, a price-to-earnings-growth ratio of 0.42 and a beta of 1.26. 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 Co. has a 12 month low of $22.80 and a 12 month 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 earnings per share (EPS) 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%. As a group, equities analysts forecast that CNX Resources Co. will post 2.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Raymond James upgraded CNX Resources from an “underperform” rating to a “market perform” rating in a research report on Tuesday, February 18th. Piper Sandler dropped 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. JPMorgan Chase & Co. boosted their target price on CNX Resources from $32.00 to $33.00 and gave the stock an “underweight” rating in a research report on Thursday, March 13th. TD Cowen assumed coverage on CNX Resources in a research report on Wednesday, January 15th. They set a “hold” rating and a $27.00 target price on the stock. Finally, StockNews.com cut CNX Resources from a “hold” rating to a “sell” rating in a research report on Thursday, February 13th. Nine investment analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $30.38.

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.