US Bancorp DE Sells 13,988 Shares of CNX Resources Co. (NYSE:CNX)

US Bancorp DE decreased its position in shares of CNX Resources Co. (NYSE:CNX) by 35.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,847 shares of the oil and gas producer’s stock after selling 13,988 shares during the quarter. US Bancorp DE’s holdings in CNX Resources were worth $948,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. lifted its stake in CNX Resources by 311.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 616,734 shares of the oil and gas producer’s stock worth $20,087,000 after purchasing an additional 466,694 shares during the last quarter. Empirical Asset Management LLC bought a new stake in shares of CNX Resources during the fourth quarter worth about $9,281,000. Charles Schwab Investment Management Inc. increased its position in CNX Resources by 12.2% in 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 during the period. Empowered Funds LLC grew its position in shares of CNX Resources by 328.0% in the 4th quarter. Empowered Funds LLC now owns 211,719 shares of the oil and gas producer’s stock valued at $7,764,000 after buying an additional 162,247 shares during the last quarter. Finally, Entropy Technologies LP raised its holdings in CNX Resources by 493.9% during the 4th quarter. Entropy Technologies LP now owns 94,657 shares of the oil and gas producer’s stock worth $3,471,000 after purchasing an additional 78,719 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on CNX shares. Raymond James raised shares of 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 note on Tuesday, January 14th. TD Cowen initiated coverage on shares of CNX Resources in a research report on Wednesday, January 15th. They issued a “hold” rating and a $27.00 price target for the company. Morgan Stanley started coverage on shares of CNX Resources in a report on Friday, January 10th. They set an “underweight” rating and a $29.00 price objective on the stock. Finally, JPMorgan Chase & Co. downgraded CNX Resources from a “neutral” rating to an “underweight” rating and lifted their price target for the company from $31.00 to $37.00 in a research note on Thursday, December 5th. Nine equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat, CNX Resources currently has an average rating of “Reduce” and a consensus target price of $29.69.

Insider Buying and Selling at CNX Resources

In related news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 13,925,000 shares in the company, valued at approximately $432,928,250. The trade was 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. Corporate insiders own 3.10% of the company’s stock.

CNX Resources Stock Performance

Shares of CNX stock opened at $30.09 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.32 and a current ratio of 0.33. The firm has a market cap of $4.48 billion, a price-to-earnings ratio of -44.24, a P/E/G ratio of 0.42 and a beta of 1.26. CNX Resources Co. has a 52 week low of $21.00 and a 52 week high of $41.93. The firm’s 50-day simple moving average is $30.22 and its two-hundred day simple moving average is $32.90.

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

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.