Allianz Asset Management GmbH Cuts Stock Holdings in CNX Resources Co. (NYSE:CNX)

Allianz Asset Management GmbH reduced its position in shares of CNX Resources Co. (NYSE:CNX) by 9.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 769,197 shares of the oil and gas producer’s stock after selling 84,940 shares during the period. Allianz Asset Management GmbH owned 0.52% of CNX Resources worth $28,206,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CNX. Blue Trust Inc. increased its stake 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 worth $64,000 after buying 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 worth $70,000 after buying an additional 935 shares in the last quarter. Principal Securities Inc. increased its stake in CNX Resources by 38.5% during the 4th 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 in the last quarter. Heck Capital Advisors LLC purchased a new stake in CNX Resources during the 4th quarter worth approximately $121,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in CNX Resources during the 3rd quarter worth approximately $205,000. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at CNX Resources

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

CNX Resources Stock Down 0.4 %

Shares of NYSE CNX opened at $29.51 on Monday. The firm has a market cap of $4.39 billion, a price-to-earnings ratio of -43.39, a PEG ratio of 0.42 and a beta of 1.38. 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 52-week low of $20.30 and a 52-week high of $41.93. The business’s 50 day moving average is $31.58 and its two-hundred day moving average is $32.69.

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, 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%. Research analysts predict that CNX Resources Co. will post 2.18 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CNX shares. Morgan Stanley started coverage on CNX Resources in a report on Friday, January 10th. They set an “underweight” rating and a $29.00 target price on the stock. StockNews.com cut CNX Resources from a “hold” rating to a “sell” rating in a report on Thursday, February 13th. Truist Financial boosted their target price on CNX Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Raymond James upgraded CNX Resources from an “underperform” rating to a “market perform” rating in a report on Tuesday, February 18th. Finally, Roth Capital set a $30.00 target price on CNX Resources in a report on Thursday, January 23rd. Nine equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $29.69.

CNX Resources 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.