Petra Financial Advisors Inc. Sells 12,459 Shares of CNX Resources Co. (NYSE:CNX)

Petra Financial Advisors Inc. reduced its position in shares of CNX Resources Co. (NYSE:CNX) by 17.2% during the fourth quarter, Holdings Channel reports. The firm owned 59,872 shares of the oil and gas producer’s stock after selling 12,459 shares during the period. CNX Resources makes up 1.5% of Petra Financial Advisors Inc.’s holdings, making the stock its 16th largest holding. Petra Financial Advisors Inc.’s holdings in CNX Resources were worth $2,196,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently made changes to their positions in the company. Counterpoint Mutual Funds LLC raised its position in CNX Resources by 149.6% in the fourth quarter. Counterpoint Mutual Funds LLC now owns 19,637 shares of the oil and gas producer’s stock worth $720,000 after acquiring an additional 11,770 shares during the period. Corient Private Wealth LLC raised its position in CNX Resources by 16.8% in the fourth quarter. Corient Private Wealth LLC now owns 51,946 shares of the oil and gas producer’s stock worth $1,903,000 after acquiring an additional 7,464 shares during the period. Midwest Professional Planners LTD. raised its position in CNX Resources by 8.0% in the fourth quarter. Midwest Professional Planners LTD. now owns 26,361 shares of the oil and gas producer’s stock worth $967,000 after acquiring an additional 1,962 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in CNX Resources by 0.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 622,503 shares of the oil and gas producer’s stock worth $22,827,000 after acquiring an additional 5,769 shares during the period. Finally, HighTower Advisors LLC raised its position in CNX Resources by 6.9% in the fourth quarter. HighTower Advisors LLC now owns 29,168 shares of the oil and gas producer’s stock worth $1,070,000 after acquiring an additional 1,879 shares during the period. 95.16% of the stock is owned by institutional investors.

CNX Resources Price Performance

Shares of NYSE:CNX opened at $30.69 on Tuesday. The company has a 50 day moving average of $29.61 and a 200 day moving average of $33.01. The stock has a market cap of $4.57 billion, a P/E ratio of -45.13, a P/E/G ratio of 0.42 and a beta of 1.26. CNX Resources Co. has a 12 month low of $21.07 and a 12 month high of $41.93. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 0.45.

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%. As a group, sell-side analysts forecast that CNX Resources Co. will post 2.18 EPS for the current fiscal year.

Insider Activity at CNX Resources

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the business’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 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. The trade was a 7.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on the stock. StockNews.com lowered shares of CNX Resources from a “hold” rating to a “sell” rating in a research report on Thursday, February 13th. Truist Financial lifted their price objective 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. Piper Sandler reduced their target price 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. Mizuho reduced 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. Finally, Raymond James upgraded shares of CNX Resources from an “underperform” rating to a “market perform” rating in a research note on Tuesday, February 18th. Nine equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat.com, CNX Resources has a consensus rating of “Reduce” and a consensus target price of $29.38.

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.