CNX Resources Co. (NYSE:CNX) Major Shareholder Mfn Partners, Lp Sells 1,075,000 Shares

CNX Resources Co. (NYSE:CNX) major shareholder Mfn Partners, Lp sold 1,075,000 shares of the company’s stock in a transaction 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. This trade represents a 7.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

CNX Resources Stock Up 2.3 %

CNX stock opened at $31.20 on Friday. The stock has a 50-day simple moving average of $37.23 and a two-hundred day simple moving average of $31.68. CNX Resources Co. has a twelve month low of $19.07 and a twelve month high of $41.93. The firm has a market capitalization of $4.66 billion, a PE ratio of 9.81, a PEG ratio of 1.85 and a beta of 1.42. The company has a quick ratio of 0.36, a current ratio of 0.37 and a debt-to-equity ratio of 0.46.

CNX Resources (NYSE:CNX) last issued its quarterly earnings data on Thursday, October 24th. The oil and gas producer reported $0.41 EPS for the quarter, beating the consensus estimate of $0.32 by $0.09. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. The company had revenue of $424.21 million during the quarter, compared to analysts’ expectations of $398.33 million. During the same quarter in the previous year, the company earned $0.35 earnings per share. On average, equities analysts predict that CNX Resources Co. will post 1.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Mizuho lowered shares of CNX Resources from a “neutral” rating to an “underperform” rating and increased their price target for the company from $33.00 to $38.00 in a research report on Monday, December 16th. Stephens raised their price target on shares of CNX Resources from $26.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Truist Financial upped their price objective on CNX Resources from $34.00 to $35.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Piper Sandler raised their target price on CNX Resources from $20.00 to $23.00 and gave the stock an “underweight” rating in a research report on Friday, December 6th. Finally, Tudor, Pickering, Holt & Co. lowered CNX Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. Eight research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $30.50.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Sequoia Financial Advisors LLC grew its position in CNX Resources by 3.5% during the third 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 in the last quarter. CWM LLC boosted its position 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 valued at $70,000 after acquiring an additional 935 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in shares of CNX Resources by 3.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 29,307 shares of the oil and gas producer’s stock valued at $712,000 after acquiring an additional 941 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of CNX Resources by 135.4% during the third quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer’s stock worth $64,000 after purchasing an additional 1,131 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of CNX Resources by 62.1% in the third quarter. GAMMA Investing LLC now owns 3,073 shares of the oil and gas producer’s stock worth $100,000 after purchasing an additional 1,177 shares during the last quarter. Institutional investors own 95.16% of the company’s stock.

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.