Capital Management Corp VA Has $13.19 Million Stock Holdings in CNX Resources Co. (NYSE:CNX)

Capital Management Corp VA decreased its stake in CNX Resources Co. (NYSE:CNX) by 6.1% in the fourth quarter, HoldingsChannel reports. The firm owned 359,566 shares of the oil and gas producer’s stock after selling 23,400 shares during the period. CNX Resources accounts for 2.4% of Capital Management Corp VA’s holdings, making the stock its 17th biggest position. Capital Management Corp VA’s holdings in CNX Resources were worth $13,185,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CNX. Principal Securities Inc. boosted its holdings in shares of CNX Resources by 38.5% in the fourth quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer’s stock worth $91,000 after buying an additional 691 shares during the period. Blue Trust Inc. boosted its stake in CNX Resources by 65.1% in the 4th quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer’s stock worth $119,000 after purchasing an additional 1,280 shares during the period. Heck Capital Advisors LLC acquired a new position in CNX Resources in the 4th quarter worth approximately $121,000. Oppenheimer Asset Management Inc. purchased a new position in CNX Resources during the 3rd quarter worth approximately $205,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in CNX Resources during the 3rd quarter valued at $209,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

CNX Resources Stock Performance

Shares of CNX opened at $30.09 on Friday. The firm has a market cap of $4.48 billion, a price-to-earnings ratio of -44.24, a price-to-earnings-growth ratio of 0.42 and a beta of 1.26. The company’s fifty day moving average is $30.35 and its 200-day moving average is $32.79. The company has a quick ratio of 0.32, a current ratio of 0.33 and a debt-to-equity ratio of 0.45. CNX Resources Co. has a 12 month low of $21.00 and a 12 month high of $41.93.

CNX Resources (NYSE:CNX) last posted 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 negative net margin of 7.14% and a positive return on equity of 6.72%. Equities analysts expect that CNX Resources Co. will post 2.18 EPS for the current fiscal year.

Insider Activity at CNX Resources

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the company’s 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 completion of the sale, the insider now owns 13,925,000 shares of the company’s stock, valued at $432,928,250. This represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently commented on the company. Truist Financial raised their target price on CNX Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. TD Cowen initiated coverage on CNX Resources in a research report on Wednesday, January 15th. They set a “hold” rating and a $27.00 price objective for the company. Morgan Stanley assumed coverage on CNX Resources in a report on Friday, January 10th. They issued an “underweight” rating and a $29.00 target price on the stock. JPMorgan Chase & Co. cut shares of CNX Resources from a “neutral” rating to an “underweight” rating and raised their price target for the stock from $31.00 to $37.00 in a report on Thursday, December 5th. Finally, Mizuho lowered their price objective on shares of CNX Resources from $38.00 to $34.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 14th. Nine research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $29.69.

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.