CNX Resources Co. (NYSE:CNX) Shares Sold by Murphy Pohlad Asset Management LLC

Murphy Pohlad Asset Management LLC decreased its position in CNX Resources Co. (NYSE:CNX) by 10.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 54,175 shares of the oil and gas producer’s stock after selling 6,125 shares during the period. Murphy Pohlad Asset Management LLC’s holdings in CNX Resources were worth $1,987,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Blue Trust Inc. grew its stake in shares of CNX Resources by 135.4% in the third quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer’s stock worth $64,000 after purchasing an additional 1,131 shares in the last quarter. CWM LLC increased its stake in CNX Resources by 77.0% during the 3rd quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock valued at $70,000 after buying an additional 935 shares during the period. GAMMA Investing LLC raised its position 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 in the last quarter. Atomi Financial Group Inc. acquired a new stake in shares of CNX Resources in the 3rd quarter worth approximately $202,000. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of CNX Resources in the third quarter valued at approximately $205,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insider Transactions at CNX Resources

In related news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the company’s 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 completion of 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 document filed with the Securities & Exchange Commission, which is available through this link. 3.10% of the stock is currently owned by corporate insiders.

CNX Resources Stock Performance

Shares of CNX opened at $27.74 on Thursday. The company has a quick ratio of 0.36, a current ratio of 0.37 and a debt-to-equity ratio of 0.46. CNX Resources Co. has a 12 month low of $19.07 and a 12 month high of $41.93. The company’s fifty day moving average is $34.89 and its 200-day moving average is $32.18. The firm has a market cap of $4.14 billion, a price-to-earnings ratio of 8.72, a price-to-earnings-growth 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.14. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. Equities analysts expect that CNX Resources Co. will post 1.59 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CNX shares. BMO Capital Markets raised their target price on CNX Resources from $26.00 to $29.00 and gave the company a “market perform” rating in a research note on Friday, October 4th. Bank of America began coverage on shares of CNX Resources in a research report on Monday, October 28th. They set an “underperform” rating and a $34.00 price objective for the company. Truist Financial upped their price target on CNX Resources from $34.00 to $35.00 and gave the company a “hold” rating in a report on Friday, December 6th. Morgan Stanley assumed coverage on CNX Resources in a research note on Friday, January 10th. They set an “underweight” rating and a $29.00 price objective for the company. Finally, Stephens boosted their target price on CNX Resources from $26.00 to $35.00 and gave the stock an “equal weight” rating in a research 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, CNX Resources currently has an average rating of “Reduce” and an average target price of $29.67.

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.