Murphy Pohlad Asset Management LLC Cuts Stock Position in CNX Resources Co. (NYSE:CNX)

Murphy Pohlad Asset Management LLC trimmed its position in shares of CNX Resources Co. (NYSE:CNX) by 10.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,175 shares of the oil and gas producer’s stock after selling 6,125 shares during the quarter. Murphy Pohlad Asset Management LLC’s holdings in CNX Resources were worth $1,987,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC lifted its holdings in shares of CNX Resources by 3.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 13,135 shares of the oil and gas producer’s stock valued at $428,000 after buying an additional 442 shares during the period. CWM LLC grew its holdings in shares of CNX Resources by 77.0% in the 3rd quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock worth $70,000 after acquiring an additional 935 shares during the period. Blue Trust Inc. increased its stake 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 in the last quarter. GAMMA Investing LLC raised its stake in shares of CNX Resources by 62.1% during the 3rd quarter. GAMMA Investing LLC now owns 3,073 shares of the oil and gas producer’s stock worth $100,000 after buying an additional 1,177 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its stake in CNX Resources by 7.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 17,662 shares of the oil and gas producer’s stock valued at $575,000 after acquiring an additional 1,190 shares during the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on CNX. TD Cowen started 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 on the stock. 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 target price for the company. Piper Sandler dropped their target price on CNX Resources from $23.00 to $22.00 and set an “underweight” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. downgraded shares of CNX Resources from a “neutral” rating to an “underweight” rating and boosted their target price for the company from $31.00 to $37.00 in a report on Thursday, December 5th. Finally, Stephens lifted their price target on shares of CNX Resources from $26.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Nine investment analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $29.67.

Insider Buying and Selling at CNX Resources

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the stock in a transaction 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 transaction, 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 legal filing with the SEC, which is available through this link. 3.10% of the stock is owned by insiders.

CNX Resources Stock Performance

Shares of NYSE:CNX opened at $27.74 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.37. CNX Resources Co. has a one year low of $19.07 and a one year high of $41.93. The business’s 50-day simple moving average is $34.89 and its 200 day simple moving average is $32.18. The company has a market cap of $4.14 billion, a P/E ratio of 8.72, a PEG ratio of 0.47 and a beta of 1.42.

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 the consensus estimate of $0.43 by $0.14. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. On average, sell-side analysts forecast that CNX Resources Co. will post 1.59 earnings per share for the current fiscal year.

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.