Callan Family Office LLC Buys Shares of 6,093 CNX Resources Co. (NYSE:CNX)

Callan Family Office LLC bought a new stake in shares of CNX Resources Co. (NYSE:CNX) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,093 shares of the oil and gas producer’s stock, valued at approximately $223,000.

Several other large investors have also modified their holdings of CNX. Principal Securities Inc. boosted its position in shares of CNX Resources by 38.5% during the fourth quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer’s stock valued at $91,000 after buying an additional 691 shares during the period. Blue Trust Inc. boosted its position in shares of CNX Resources by 65.1% during the fourth quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer’s stock valued at $119,000 after buying an additional 1,280 shares during the period. Heck Capital Advisors LLC purchased a new position in shares of CNX Resources during the fourth quarter valued at approximately $121,000. Oppenheimer Asset Management Inc. purchased a new position in shares of CNX Resources during the third quarter valued at approximately $205,000. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of CNX Resources in the third quarter valued at approximately $209,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Insider Activity at CNX Resources

In related news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the company’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 transaction, the insider now directly owns 13,925,000 shares of the company’s stock, valued at $432,928,250. This represents a 7.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.10% of the stock is owned by insiders.

CNX Resources Price Performance

NYSE CNX opened at $29.84 on Wednesday. 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 stock’s fifty day moving average price is $29.96 and its 200 day moving average price is $32.94. CNX Resources Co. has a 1 year low of $21.00 and a 1 year high of $41.93. The company has a market cap of $4.44 billion, a price-to-earnings ratio of -43.87, a PEG ratio of 0.42 and a beta of 1.26.

CNX Resources (NYSE:CNX) last released its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share (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%. As a group, equities research analysts forecast that CNX Resources Co. will post 2.18 earnings per share for the current year.

Analyst Ratings Changes

CNX has been the subject of a number of research reports. StockNews.com lowered CNX Resources from a “hold” rating to a “sell” rating in a report on Thursday, February 13th. Roth Capital set a $30.00 target price on CNX Resources in a report on Thursday, January 23rd. Mizuho lowered their target price on CNX Resources from $38.00 to $34.00 and set an “underperform” rating for the company in a report on Tuesday, January 14th. Piper Sandler lowered their target price on CNX Resources from $23.00 to $22.00 and set an “underweight” rating for the company in a report on Wednesday, January 29th. Finally, Truist Financial upped their target price on CNX Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Nine research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $29.69.

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.