Victory Capital Management Inc. Sells 16,752 Shares of CNX Resources Co. (NYSE:CNX)

Victory Capital Management Inc. trimmed its position in shares of CNX Resources Co. (NYSE:CNX) by 17.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 81,220 shares of the oil and gas producer’s stock after selling 16,752 shares during the quarter. Victory Capital Management Inc. owned approximately 0.05% of CNX Resources worth $2,978,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Congress Asset Management Co. boosted its position in CNX Resources by 7.2% during the 4th quarter. Congress Asset Management Co. now owns 266,447 shares of the oil and gas producer’s stock valued at $9,771,000 after acquiring an additional 17,951 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in CNX Resources by 12.2% during 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 acquiring an additional 202,890 shares in the last quarter. World Investment Advisors LLC bought a new stake in CNX Resources during the 3rd quarter valued at approximately $534,000. Convergence Investment Partners LLC bought a new stake in CNX Resources during the 4th quarter valued at approximately $1,556,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position 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 acquiring an additional 466,694 shares in the last quarter. 95.16% of the stock is owned by institutional investors.

CNX Resources Price Performance

Shares of CNX opened at $30.51 on Monday. The firm has a market cap of $4.54 billion, a PE ratio of -44.87, a P/E/G ratio of 0.42 and a beta of 1.26. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 0.45. The firm has a fifty day simple moving average of $29.61 and a two-hundred day simple moving average of $32.99. CNX Resources Co. has a 1-year low of $21.07 and a 1-year high of $41.93.

CNX Resources (NYSE:CNX) last announced its earnings results 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, equities analysts anticipate that CNX Resources Co. will post 2.18 EPS for the current year.

Wall Street Analysts Forecast Growth

CNX has been the topic of several research reports. Morgan Stanley assumed coverage on CNX Resources in a research report on Friday, January 10th. They set an “underweight” rating and a $29.00 price objective on the stock. TD Cowen assumed coverage on CNX Resources in a research report on Wednesday, January 15th. They issued a “hold” rating and a $27.00 price target on the stock. Raymond James raised CNX Resources from an “underperform” rating to a “market perform” rating in a research report on Tuesday, February 18th. Mizuho dropped their price target on CNX Resources from $38.00 to $34.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. boosted their price target on CNX Resources from $32.00 to $33.00 and gave the stock an “underweight” rating in a research report on Thursday. Nine investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $29.38.

Insider Transactions at CNX Resources

In other 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 completion of the sale, the insider now directly owns 13,925,000 shares in the company, valued at $432,928,250. This represents a 7.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 4.65% of the stock is currently owned by company insiders.

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.