Spirit of America Management Corp NY Sells 1,000 Shares of CNX Resources Co. (NYSE:CNX)

Spirit of America Management Corp NY reduced its stake in shares of CNX Resources Co. (NYSE:CNX) by 4.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 20,500 shares of the oil and gas producer’s stock after selling 1,000 shares during the period. Spirit of America Management Corp NY’s holdings in CNX Resources were worth $752,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. grew its holdings in CNX Resources by 135.4% during the 3rd quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer’s stock valued at $64,000 after buying an additional 1,131 shares in the last quarter. CWM LLC grew its holdings in shares of CNX Resources by 77.0% in the third 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 in the last quarter. GAMMA Investing LLC increased its position in CNX Resources by 62.1% in the third quarter. GAMMA Investing LLC now owns 3,073 shares of the oil and gas producer’s stock worth $100,000 after purchasing an additional 1,177 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in CNX Resources in the fourth quarter worth $121,000. Finally, Longboard Asset Management LP purchased a new stake in CNX Resources during the fourth quarter valued at $212,000. Institutional investors own 95.16% of the company’s stock.

CNX Resources Trading Up 3.1 %

CNX opened at $28.46 on Wednesday. The business has a fifty day moving average of $33.85 and a 200 day moving average of $32.27. CNX Resources Co. has a 52-week low of $19.07 and a 52-week high of $41.93. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.32 and a current ratio of 0.33.

CNX Resources (NYSE:CNX) last posted its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. As a group, equities analysts predict that CNX Resources Co. will post 2.36 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on CNX. Truist Financial lifted their price objective on shares of CNX Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Morgan Stanley started coverage on CNX Resources in a research report on Friday, January 10th. They issued an “underweight” rating and a $29.00 price target for the company. Piper Sandler decreased their price objective on CNX Resources from $23.00 to $22.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 29th. Capital One Financial cut CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 target price for the company. in a report on Monday, October 14th. Finally, JPMorgan Chase & Co. cut CNX Resources from a “neutral” rating to an “underweight” rating and lifted their target price for the stock from $31.00 to $37.00 in a report on Thursday, December 5th. Eight research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $29.67.

Insider Activity at CNX Resources

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of CNX Resources 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 completion of the sale, the insider now directly owns 13,925,000 shares of the company’s stock, valued at $432,928,250. The trade was a 7.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.65% of the stock is owned by company insiders.

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.