CNX Resources Co. (NYSE:CNX) Shares Sold by American Century Companies Inc.

American Century Companies Inc. decreased its holdings in shares of CNX Resources Co. (NYSE:CNX) by 13.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,338,262 shares of the oil and gas producer’s stock after selling 521,193 shares during the quarter. American Century Companies Inc.’s holdings in CNX Resources were worth $122,414,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new stake in shares of CNX Resources in the fourth quarter valued at about $14,268,000. Empirical Asset Management LLC purchased a new position in CNX Resources in the 4th quarter worth approximately $9,281,000. Charles Schwab Investment Management Inc. grew its position in CNX Resources by 12.2% in the third 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 acquiring an additional 202,890 shares in the last quarter. Empowered Funds LLC raised its stake in shares of CNX Resources by 328.0% during the fourth quarter. Empowered Funds LLC now owns 211,719 shares of the oil and gas producer’s stock valued at $7,764,000 after purchasing an additional 162,247 shares during the period. Finally, Intech Investment Management LLC lifted its position in shares of CNX Resources by 200.3% during the fourth quarter. Intech Investment Management LLC now owns 194,307 shares of the oil and gas producer’s stock worth $7,125,000 after purchasing an additional 129,605 shares in the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CNX. Mizuho lowered their price target on shares of CNX Resources from $38.00 to $34.00 and set an “underperform” rating for the company in a report on Tuesday, January 14th. Stephens raised CNX Resources from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $35.00 to $48.00 in a research report on Tuesday, March 18th. Morgan Stanley initiated coverage on CNX Resources in a research note on Friday, January 10th. They issued an “underweight” rating and a $29.00 price target on the stock. Roth Capital set a $30.00 price objective on CNX Resources in a report on Thursday, January 23rd. Finally, Truist Financial increased their target price on CNX Resources from $34.00 to $35.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Nine equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, CNX Resources has a consensus rating of “Hold” and a consensus price target of $30.38.

Insiders Place Their Bets

In other news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the company’s 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 completion of the transaction, the insider now owns 13,925,000 shares in the company, valued at approximately $432,928,250. This represents a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.10% of the stock is owned by corporate insiders.

CNX Resources Price Performance

Shares of NYSE:CNX opened at $31.79 on Monday. The company has a market cap of $4.73 billion, a PE ratio of -46.75, a P/E/G ratio of 0.42 and a beta of 1.26. CNX Resources Co. has a fifty-two week low of $22.80 and a fifty-two week high of $41.93. The firm has a 50-day simple moving average of $29.71 and a 200 day simple moving average of $33.14. The company has a quick ratio of 0.32, a current ratio of 0.33 and a debt-to-equity ratio of 0.45.

CNX Resources (NYSE:CNX) last posted its earnings results 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 positive return on equity of 6.72% and a negative net margin of 7.14%. On average, sell-side analysts anticipate that CNX Resources Co. will post 2.18 EPS for the current year.

CNX Resources Company 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.