Atria Investments Inc Has $330,000 Stake in CNX Resources Co. (NYSE:CNX)

Atria Investments Inc reduced its stake in shares of CNX Resources Co. (NYSE:CNX) by 20.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,005 shares of the oil and gas producer’s stock after selling 2,371 shares during the quarter. Atria Investments Inc’s holdings in CNX Resources were worth $330,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CNX. Principal Securities Inc. grew its holdings in shares of CNX Resources by 38.5% in the 4th quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer’s stock worth $91,000 after purchasing an additional 691 shares during the last quarter. Blue Trust Inc. grew its stake in CNX Resources by 65.1% during the fourth quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer’s stock worth $119,000 after buying an additional 1,280 shares during the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of CNX Resources during the fourth quarter worth approximately $121,000. Longboard Asset Management LP bought a new position in shares of CNX Resources in the fourth quarter valued at approximately $212,000. Finally, Autumn Glory Partners LLC acquired a new position in shares of CNX Resources in the 4th quarter worth approximately $220,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CNX shares. Morgan Stanley began coverage on CNX Resources in a report on Friday, January 10th. They set an “underweight” rating and a $29.00 price target for the company. Mizuho lowered their target price on CNX Resources from $38.00 to $34.00 and set an “underperform” rating for the company in a research note on Tuesday, January 14th. TD Cowen started coverage on shares of CNX Resources in a research report on Wednesday, January 15th. They set a “hold” rating and a $27.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on shares of CNX Resources from $32.00 to $33.00 and gave the stock an “underweight” rating in a report on Thursday, March 13th. Finally, Piper Sandler dropped their target price on shares of CNX Resources from $23.00 to $22.00 and set an “underweight” rating for the company in a research note on Wednesday, January 29th. Nine investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $29.38.

CNX Resources Trading Up 0.6 %

CNX opened at $30.69 on Tuesday. The firm has a 50 day simple moving average of $29.61 and a 200 day simple moving average of $33.01. CNX Resources Co. has a fifty-two week low of $21.07 and a fifty-two week high of $41.93. The company has a market cap of $4.57 billion, a price-to-earnings ratio of -45.13, a price-to-earnings-growth ratio of 0.42 and a beta of 1.26. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32.

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, beating 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%. On average, sell-side analysts anticipate that CNX Resources Co. will post 2.18 earnings per share for the current year.

Insider Activity at CNX Resources

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the firm’s stock in a transaction dated 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 owns 13,925,000 shares in the company, valued at approximately $432,928,250. This trade represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.10% of the stock is currently owned by corporate 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.