Wakefield Asset Management LLLP Buys Shares of 28,545 CNX Resources Co. (NYSE:CNX)

Wakefield Asset Management LLLP acquired a new position in shares of CNX Resources Co. (NYSE:CNX) in the 4th quarter, Holdings Channel.com reports. The fund acquired 28,545 shares of the oil and gas producer’s stock, valued at approximately $1,047,000.

A number of other institutional investors also recently made changes to their positions in the stock. Congress Asset Management Co. raised its position in shares of CNX Resources by 7.2% in the 4th quarter. Congress Asset Management Co. now owns 266,447 shares of the oil and gas producer’s stock worth $9,771,000 after buying an additional 17,951 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of CNX Resources by 12.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,860,817 shares of the oil and gas producer’s stock valued at $60,607,000 after buying an additional 202,890 shares during the period. World Investment Advisors LLC bought a new stake in CNX Resources in the third quarter valued at $534,000. Convergence Investment Partners LLC bought a new position in CNX Resources in the 4th quarter worth approximately $1,556,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in CNX Resources by 311.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 616,734 shares of the oil and gas producer’s stock valued at $20,087,000 after buying an additional 466,694 shares during the period. 95.16% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CNX. Piper Sandler lowered their price objective on shares of CNX Resources from $23.00 to $22.00 and set an “underweight” rating on the stock 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 report on Thursday, February 13th. JPMorgan Chase & Co. downgraded CNX Resources from a “neutral” rating to an “underweight” rating and raised their price target for the company from $31.00 to $37.00 in a research report on Thursday, December 5th. Raymond James upgraded shares of CNX Resources from an “underperform” rating to a “market perform” rating in a report on Tuesday, February 18th. Finally, Mizuho dropped their price objective 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. Nine equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $29.69.

Insider Transactions at CNX Resources

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $31.09, for a total value of $33,421,750.00. Following the completion of the sale, the insider now directly owns 13,925,000 shares of the company’s stock, valued at $432,928,250. This trade represents a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 3.10% of the company’s stock.

CNX Resources Trading Down 4.1 %

CNX opened at $28.78 on Friday. The firm has a market capitalization of $4.28 billion, a price-to-earnings ratio of -42.32, a PEG ratio of 0.42 and a beta of 1.38. CNX Resources Co. has a fifty-two week low of $20.45 and a fifty-two week high of $41.93. The company’s 50 day moving average price is $31.08 and its two-hundred day moving average price is $32.70. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32.

CNX Resources (NYSE:CNX) last issued its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share for the quarter, topping 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, research analysts predict that CNX Resources Co. will post 2.18 earnings per share for the current year.

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.