Sciencast Management LP Trims Position in CNX Resources Co. (NYSE:CNX)

Sciencast Management LP lessened its holdings in shares of CNX Resources Co. (NYSE:CNX) by 56.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,894 shares of the oil and gas producer’s stock after selling 8,995 shares during the quarter. Sciencast Management LP’s holdings in CNX Resources were worth $253,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd purchased a new position in shares of CNX Resources during the 4th quarter worth $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 holdings in shares of CNX Resources by 38.5% during the 4th quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer’s stock worth $91,000 after buying an additional 691 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of CNX Resources by 65.1% during the 4th quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer’s stock worth $119,000 after buying an additional 1,280 shares during the last quarter. Finally, Heck Capital Advisors LLC acquired a new stake in shares of CNX Resources during the 4th quarter worth $121,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

CNX Resources Stock Performance

NYSE:CNX opened at $31.79 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32. The firm has a 50-day moving average of $29.71 and a two-hundred day moving average of $33.14. The stock has a market cap of $4.73 billion, a P/E ratio of -46.75, a PEG ratio of 0.42 and a beta of 1.26. CNX Resources Co. has a 1-year low of $22.80 and a 1-year high of $41.93.

CNX Resources (NYSE:CNX) last posted its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates 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%. On average, research analysts expect that CNX Resources Co. will post 2.18 earnings per share for the current fiscal year.

Insider Transactions at CNX Resources

In other news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the stock in a transaction dated 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 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 SEC, which is accessible through this hyperlink. Corporate insiders own 3.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CNX. JPMorgan Chase & Co. upped their price objective on CNX Resources from $32.00 to $33.00 and gave the stock an “underweight” rating in a report on Thursday, March 13th. Roth Capital set a $30.00 price objective on CNX Resources in a report on Thursday, January 23rd. TD Cowen began coverage on CNX Resources in a report on Wednesday, January 15th. They set a “hold” rating and a $27.00 price objective for the company. StockNews.com downgraded CNX Resources from a “hold” rating to a “sell” rating in a report on Thursday, February 13th. Finally, Morgan Stanley began coverage on CNX Resources in a report on Friday, January 10th. They issued an “underweight” rating and a $29.00 price target for the company. Nine analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $30.38.

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.