State of Alaska Department of Revenue Sells 640 Shares of CNX Resources Co. (NYSE:CNX)

State of Alaska Department of Revenue cut its stake in CNX Resources Co. (NYSE:CNX) by 3.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,022 shares of the oil and gas producer’s stock after selling 640 shares during the period. State of Alaska Department of Revenue’s holdings in CNX Resources were worth $624,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of CNX. Blue Trust Inc. boosted its holdings in CNX Resources by 135.4% in the 3rd quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer’s stock valued at $64,000 after purchasing an additional 1,131 shares during the period. CWM LLC boosted its holdings in CNX Resources by 77.0% in the 3rd quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock valued at $70,000 after purchasing an additional 935 shares during the period. Heck Capital Advisors LLC bought a new stake in CNX Resources in the 4th quarter valued at $121,000. Oppenheimer Asset Management Inc. bought a new stake in CNX Resources in the 3rd quarter valued at $205,000. Finally, Jacobs Levy Equity Management Inc. bought a new stake in CNX Resources in the 3rd quarter valued at $209,000. 95.16% of the stock is owned by institutional investors.

Insider Activity at CNX Resources

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 stock was sold at an average price of $31.09, for a total transaction of $33,421,750.00. Following the transaction, the insider now directly owns 13,925,000 shares in the company, valued at approximately $432,928,250. This represents a 7.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.10% of the stock is currently owned by company insiders.

CNX Resources Trading Down 0.7 %

CNX opened at $30.28 on Friday. CNX Resources Co. has a twelve month low of $19.33 and a twelve month high of $41.93. The company has a 50-day simple moving average of $32.34 and a 200 day simple moving average of $32.42. The company has a quick ratio of 0.32, a current ratio of 0.33 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $4.52 billion, a price-to-earnings ratio of -44.53, a P/E/G ratio of 0.39 and a beta of 1.38.

CNX Resources (NYSE:CNX) last issued its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 EPS for the quarter, topping 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%. Analysts predict that CNX Resources Co. will post 2.36 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. StockNews.com cut shares of CNX Resources from a “hold” rating to a “sell” rating in a research note on Thursday. Stephens increased their price objective on shares of CNX Resources from $26.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Bank of America assumed coverage on shares of CNX Resources in a research note on Monday, October 28th. They issued an “underperform” rating and a $34.00 price objective for the company. Morgan Stanley began coverage on shares of CNX Resources in a research note on Friday, January 10th. They issued an “underweight” rating and a $29.00 price objective for the company. Finally, Mizuho dropped their target price on shares of CNX Resources from $38.00 to $34.00 and set an “underperform” rating for the company in a research report on Tuesday, January 14th. Nine research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $29.67.

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.