Autumn Glory Partners LLC Acquires New Shares in CNX Resources Co. (NYSE:CNX)

Autumn Glory Partners LLC acquired a new stake in CNX Resources Co. (NYSE:CNX) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 6,010 shares of the oil and gas producer’s stock, valued at approximately $220,000.

Other large investors have also made changes to their positions in the company. Sequoia Financial Advisors LLC boosted its stake in shares of CNX Resources by 3.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 13,135 shares of the oil and gas producer’s stock worth $428,000 after buying an additional 442 shares during the last quarter. SeaBridge Investment Advisors LLC boosted its stake in shares of CNX Resources by 0.8% during 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 buying an additional 759 shares during the last quarter. CWM LLC boosted its stake in shares of CNX Resources by 77.0% during the 3rd quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock worth $70,000 after buying an additional 935 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of CNX Resources by 135.4% during the 3rd quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer’s stock worth $64,000 after buying an additional 1,131 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in shares of CNX Resources by 7.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 17,662 shares of the oil and gas producer’s stock worth $575,000 after buying an additional 1,190 shares during the last quarter. Institutional investors own 95.16% of the company’s stock.

Insider Transactions at CNX Resources

In other news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $31.09, for a total transaction of $33,421,750.00. Following the transaction, the insider now directly owns 13,925,000 shares of the company’s stock, valued at approximately $432,928,250. This trade represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Piper Sandler reduced their price objective on shares of CNX Resources from $23.00 to $22.00 and set an “underweight” rating for the company in a research note on Wednesday, January 29th. StockNews.com downgraded shares of CNX Resources from a “hold” rating to a “sell” rating in a research note on Thursday. Mizuho cut their target price on shares of CNX Resources from $38.00 to $34.00 and set an “underperform” rating for the company in a research note on Tuesday, January 14th. Morgan Stanley assumed coverage on shares of CNX Resources in a research note on Friday, January 10th. They issued an “underweight” rating and a $29.00 target price for the company. Finally, Stephens raised their target price on shares of CNX Resources from $26.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Nine investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat.com, CNX Resources currently has an average rating of “Reduce” and a consensus price target of $29.67.

CNX Resources Stock Down 0.7 %

CNX Resources stock opened at $30.28 on Friday. The stock has a market cap of $4.52 billion, a P/E ratio of -44.53, a P/E/G ratio of 0.39 and a beta of 1.38. The company has a quick ratio of 0.32, a current ratio of 0.33 and a debt-to-equity ratio of 0.45. CNX Resources Co. has a twelve month low of $19.33 and a twelve month high of $41.93. The company’s 50-day moving average price is $32.34 and its two-hundred day moving average price is $32.42.

CNX Resources (NYSE:CNX) last released its quarterly earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share 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%. As a group, analysts expect that CNX Resources Co. will post 2.36 EPS for the current 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.