Spirit of America Management Corp NY Sells 6,000 Shares of CNX Resources Corporation. (NYSE:CNX)

Spirit of America Management Corp NY reduced its position in shares of CNX Resources Corporation. (NYSE:CNX) by 29.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,500 shares of the oil and gas producer’s stock after selling 6,000 shares during the quarter. Spirit of America Management Corp NY’s holdings in CNX Resources were worth $456,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Northern Trust Corp increased its stake in CNX Resources by 20.5% during the 4th quarter. Northern Trust Corp now owns 2,421,387 shares of the oil and gas producer’s stock valued at $88,792,000 after purchasing an additional 411,485 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in CNX Resources by 7.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,000,464 shares of the oil and gas producer’s stock valued at $73,357,000 after purchasing an additional 139,647 shares in the last quarter. Woodline Partners LP bought a new stake in CNX Resources during the 4th quarter valued at about $71,971,000. Capital Research Global Investors increased its stake in CNX Resources by 31.8% during the 4th quarter. Capital Research Global Investors now owns 1,450,000 shares of the oil and gas producer’s stock valued at $53,172,000 after purchasing an additional 350,000 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its stake in shares of CNX Resources by 30.9% in the fourth quarter. Nuveen Asset Management LLC now owns 1,365,407 shares of the oil and gas producer’s stock worth $50,069,000 after acquiring an additional 322,203 shares during the period. 95.16% of the stock is currently owned by institutional investors.

CNX Resources Stock Performance

CNX opened at $34.35 on Friday. The company has a current ratio of 0.27, a quick ratio of 0.25 and a debt-to-equity ratio of 0.63. The company has a market cap of $4.97 billion, a price-to-earnings ratio of -16.67, a PEG ratio of 0.32 and a beta of 0.66. The company’s 50 day moving average is $31.45 and its 200 day moving average is $31.61. CNX Resources Corporation. has a 12-month low of $23.63 and a 12-month high of $41.93.

Insider Buying and Selling at CNX Resources

In other news, Director J. Palmer Clarkson purchased 10,000 shares of the stock in a transaction on Monday, May 12th. The shares were acquired at an average price of $31.20 per share, with a total value of $312,000.00. Following the completion of the acquisition, the director now directly owns 245,433 shares of the company’s stock, valued at $7,657,509.60. This trade represents a 4.25% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 3.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Morgan Stanley reiterated an “underweight” rating and issued a $31.00 price target on shares of CNX Resources in a research note on Tuesday, April 15th. Bank of America reduced their price target on shares of CNX Resources from $32.00 to $27.00 and set an “underperform” rating for the company in a research note on Tuesday, April 1st. Stephens upgraded shares of CNX Resources from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $35.00 to $48.00 in a research note on Tuesday, March 18th. Cowen reiterated a “hold” rating on shares of CNX Resources in a research note on Friday, April 25th. Finally, Mizuho lifted their price target on shares of CNX Resources from $35.00 to $36.00 and gave the stock an “underperform” rating in a research note on Tuesday, May 13th. Eight investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $31.58.

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.