Pitcairn Co. Has $392,000 Stake in CNX Resources Co. (NYSE:CNX)

Pitcairn Co. lessened its holdings in shares of CNX Resources Co. (NYSE:CNX) by 51.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,702 shares of the oil and gas producer’s stock after selling 11,530 shares during the period. Pitcairn Co.’s holdings in CNX Resources were worth $392,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Harvest Fund Management Co. Ltd acquired a new stake in CNX Resources during the fourth quarter worth approximately $39,000. VSM Wealth Advisory LLC acquired a new stake in shares of CNX Resources during the 4th quarter worth $55,000. Principal Securities Inc. increased its position in shares of CNX Resources by 38.5% in the fourth quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer’s stock worth $91,000 after purchasing an additional 691 shares during the period. Blue Trust Inc. raised its stake in CNX Resources by 65.1% in the fourth quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer’s stock valued at $119,000 after purchasing an additional 1,280 shares in the last quarter. Finally, Heck Capital Advisors LLC bought a new stake in CNX Resources during the fourth quarter worth about $121,000. 95.16% of the stock is owned by institutional investors.

CNX Resources Trading Down 6.2 %

Shares of NYSE CNX opened at $29.29 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.32 and a current ratio of 0.33. CNX Resources Co. has a 52-week low of $22.82 and a 52-week high of $41.93. The stock has a market cap of $4.31 billion, a P/E ratio of -43.08, a price-to-earnings-growth ratio of 0.42 and a beta of 1.26. The firm has a 50 day moving average price of $30.03 and a two-hundred day moving average price of $33.38.

CNX Resources (NYSE:CNX) last released its quarterly earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 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 EPS for the current year.

Insider Activity at CNX Resources

In other 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 transaction, the insider now owns 13,925,000 shares in the company, valued at approximately $432,928,250. The trade was a 7.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CNX has been the subject of several analyst reports. Roth Capital set a $30.00 target price on shares of CNX Resources in a research report on Thursday, January 23rd. Bank of America cut their target price on CNX Resources from $32.00 to $27.00 and set an “underperform” rating for the company in a research note on Tuesday, April 1st. Raymond James upgraded CNX Resources from an “underperform” rating to a “market perform” rating in a research note on Tuesday, February 18th. StockNews.com downgraded CNX Resources from a “hold” rating to a “sell” rating in a research report on Thursday, February 13th. Finally, Mizuho decreased their target price 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. Nine analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $30.83.

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.