Natixis Advisors LLC Has $1.22 Million Position in CNX Resources Co. (NYSE:CNX)

Natixis Advisors LLC decreased its position in shares of CNX Resources Co. (NYSE:CNX) by 20.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,192 shares of the oil and gas producer’s stock after selling 8,452 shares during the period. Natixis Advisors LLC’s holdings in CNX Resources were worth $1,217,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in CNX Resources in the 4th quarter worth about $14,268,000. Empirical Asset Management LLC bought a new stake in shares of CNX Resources in the fourth quarter valued at approximately $9,281,000. Charles Schwab Investment Management Inc. grew its position in CNX Resources by 12.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,860,817 shares of the oil and gas producer’s stock worth $60,607,000 after buying an additional 202,890 shares in the last quarter. Empowered Funds LLC increased its stake in CNX Resources by 328.0% during the 4th quarter. Empowered Funds LLC now owns 211,719 shares of the oil and gas producer’s stock worth $7,764,000 after acquiring an additional 162,247 shares during the period. Finally, Entropy Technologies LP raised its holdings in CNX Resources by 493.9% in the 4th quarter. Entropy Technologies LP now owns 94,657 shares of the oil and gas producer’s stock valued at $3,471,000 after acquiring an additional 78,719 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insiders Place Their Bets

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the stock in a transaction that occurred on 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 sale, the insider now owns 13,925,000 shares of the company’s stock, valued at approximately $432,928,250. This represents a 7.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 3.10% of the company’s stock.

CNX Resources Stock Performance

CNX Resources stock opened at $31.53 on Wednesday. The business has a 50 day moving average of $29.77 and a 200-day moving average of $33.20. 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 Co. has a 1 year low of $22.81 and a 1 year high of $41.93. The company has a market capitalization of $4.69 billion, a P/E ratio of -46.37, a P/E/G ratio of 0.42 and a beta of 1.26.

CNX Resources (NYSE:CNX) last released its quarterly 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 negative net margin of 7.14% and a positive return on equity of 6.72%. On average, equities research analysts predict that CNX Resources Co. will post 2.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CNX shares. Roth Capital set a $30.00 price target on CNX Resources in a research report on Thursday, January 23rd. Morgan Stanley began coverage on shares of CNX Resources in a research report on Friday, January 10th. They issued an “underweight” rating and a $29.00 target price for the company. Truist Financial increased their price target on shares of CNX Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. StockNews.com downgraded shares of CNX Resources from a “hold” rating to a “sell” rating in a research report on Thursday, February 13th. Finally, Stephens raised CNX Resources from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $35.00 to $48.00 in a report on Tuesday, March 18th. Nine analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $30.38.

About CNX Resources

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.