Petra Financial Advisors Inc. Has $2.20 Million Stock Holdings in CNX Resources Co. (NYSE:CNX)

Petra Financial Advisors Inc. cut its position in shares of CNX Resources Co. (NYSE:CNX) by 17.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,872 shares of the oil and gas producer’s stock after selling 12,459 shares during the period. CNX Resources accounts for 1.5% of Petra Financial Advisors Inc.’s portfolio, making the stock its 16th largest holding. Petra Financial Advisors Inc.’s holdings in CNX Resources were worth $2,196,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Principal Securities Inc. increased its stake in shares of 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 purchasing an additional 691 shares during the last quarter. Blue Trust Inc. grew its stake in CNX Resources by 65.1% in the 4th quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer’s stock valued at $119,000 after buying an additional 1,280 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in CNX Resources in the 4th quarter valued at about $121,000. Oppenheimer Asset Management Inc. acquired a new position in CNX Resources in the 3rd quarter valued at about $205,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in CNX Resources in the 3rd quarter valued at about $209,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $31.09, for a total value of $33,421,750.00. Following the completion of the sale, the insider now directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.10% of the company’s stock.

Analyst Upgrades and Downgrades

CNX has been the topic of a number of research reports. StockNews.com lowered shares of CNX Resources from a “hold” rating to a “sell” rating in a research note on Thursday, February 13th. Truist Financial increased their target price on shares of CNX Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Piper Sandler decreased their target price on shares of CNX Resources from $23.00 to $22.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 29th. Raymond James upgraded shares of CNX Resources from an “underperform” rating to a “market perform” rating in a research report on Tuesday, February 18th. Finally, Mizuho decreased their target price on shares of CNX Resources from $38.00 to $34.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 14th. Nine equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat.com, CNX Resources has a consensus rating of “Reduce” and an average target price of $29.38.

CNX Resources Stock Performance

Shares of CNX Resources stock opened at $30.69 on Tuesday. The company has a 50 day moving average of $29.61 and a 200-day moving average of $33.01. CNX Resources Co. has a 1-year low of $21.07 and a 1-year high of $41.93. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 0.45. The company has a market cap of $4.57 billion, a PE ratio of -45.13, a price-to-earnings-growth ratio of 0.42 and a beta of 1.26.

CNX Resources (NYSE:CNX) last issued its quarterly earnings data 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%. As a group, equities research analysts forecast that CNX Resources Co. will post 2.18 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.