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

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

Other hedge funds and other institutional investors have also bought and sold shares of the company. Congress Asset Management Co. boosted its position in shares of CNX Resources by 7.2% in the 4th quarter. Congress Asset Management Co. now owns 266,447 shares of the oil and gas producer’s stock worth $9,771,000 after purchasing an additional 17,951 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake 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 buying an additional 202,890 shares during the last quarter. World Investment Advisors LLC bought a new stake in CNX Resources in the third quarter worth $534,000. Convergence Investment Partners LLC purchased a new stake in shares of CNX Resources in the fourth quarter worth $1,556,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of CNX Resources by 311.0% during the third 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 acquiring an additional 466,694 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 13,925,000 shares in the company, valued at $432,928,250. This represents a 7.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 3.10% of the company’s stock.

CNX Resources Stock Up 0.6 %

CNX Resources stock opened at $30.69 on Tuesday. CNX Resources Co. has a one year low of $21.07 and a one year high of $41.93. The stock has a fifty day moving average of $29.61 and a 200 day moving average of $33.01. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.32 and a current ratio of 0.33. The stock has a market cap of $4.57 billion, a PE ratio of -45.13, a price-to-earnings-growth ratio of 0.42 and a beta of 1.26.

CNX Resources (NYSE:CNX) last issued its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share 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, sell-side analysts predict that CNX Resources Co. will post 2.18 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Truist Financial upped their price target on shares of CNX Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. increased their price target on shares of CNX Resources from $32.00 to $33.00 and gave the company an “underweight” rating in a report on Thursday, March 13th. TD Cowen initiated coverage on shares of CNX Resources in a report on Wednesday, January 15th. They issued a “hold” rating and a $27.00 price objective for the company. Mizuho lowered their price objective on CNX Resources from $38.00 to $34.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 14th. Finally, Raymond James raised CNX Resources from an “underperform” rating to a “market perform” rating in a report on Tuesday, February 18th. Nine analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $29.38.

CNX Resources 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.