Massachusetts Financial Services Co. MA Has $43.43 Million Position in CNX Resources Co. (NYSE:CNX)

Massachusetts Financial Services Co. MA lessened its stake in CNX Resources Co. (NYSE:CNX - Free Report) by 14.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,171,722 shares of the oil and gas producer's stock after selling 366,850 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.37% of CNX Resources worth $43,434,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in CNX. Invesco Ltd. grew its position in CNX Resources by 11.7% during the third quarter. Invesco Ltd. now owns 3,587,664 shares of the oil and gas producer's stock valued at $81,009,000 after acquiring an additional 376,245 shares during the period. American Century Companies Inc. grew its holdings in shares of CNX Resources by 11.2% during the 3rd quarter. American Century Companies Inc. now owns 2,154,145 shares of the oil and gas producer's stock worth $48,641,000 after purchasing an additional 217,753 shares during the period. LSV Asset Management increased its position in CNX Resources by 223.4% during the 4th quarter. LSV Asset Management now owns 1,489,353 shares of the oil and gas producer's stock worth $29,787,000 after purchasing an additional 1,028,805 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in CNX Resources by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,455,350 shares of the oil and gas producer's stock valued at $29,107,000 after buying an additional 9,356 shares during the period. Finally, Brandywine Global Investment Management LLC lifted its position in CNX Resources by 5.1% during the third quarter. Brandywine Global Investment Management LLC now owns 927,237 shares of the oil and gas producer's stock valued at $20,937,000 after buying an additional 44,690 shares in the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Scotiabank raised their target price on shares of CNX Resources from $20.00 to $25.00 and gave the company a "sector underperform" rating in a research note on Thursday, April 11th. Truist Financial raised their price objective on CNX Resources from $28.00 to $30.00 and gave the company a "buy" rating in a research report on Friday, April 5th. Roth Mkm upped their target price on CNX Resources from $18.00 to $22.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 2nd. Mizuho raised their target price on CNX Resources from $25.00 to $29.00 and gave the company a "neutral" rating in a report on Monday, May 13th. Finally, Piper Sandler boosted their price target on CNX Resources from $18.00 to $22.00 and gave the stock a "neutral" rating in a research report on Friday, April 19th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $25.00.

CNX Resources Stock Up 0.1 %

Shares of NYSE:CNX traded up $0.02 during trading on Friday, hitting $24.30. The company's stock had a trading volume of 1,759,936 shares, compared to its average volume of 2,512,112. The company has a market capitalization of $3.72 billion, a PE ratio of 4.40 and a beta of 1.36. CNX Resources Co. has a fifty-two week low of $15.08 and a fifty-two week high of $24.82. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.51 and a current ratio of 0.53. The stock's 50-day moving average price is $23.45 and its two-hundred day moving average price is $21.54.

CNX Resources (NYSE:CNX - Get Free Report) last announced its earnings results on Thursday, April 25th. The oil and gas producer reported $0.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.36 by $0.09. CNX Resources had a return on equity of 7.68% and a net margin of 40.44%. The company had revenue of $381.00 million for the quarter, compared to analyst estimates of $420.13 million. As a group, sell-side analysts expect that CNX Resources Co. will post 1.39 EPS for the current year.

Insider Buying and Selling at CNX Resources

In related news, EVP Timothy Scott Bedard sold 1,226 shares of CNX Resources stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $20.83, for a total value of $25,537.58. Following the completion of the transaction, the executive vice president now directly owns 67,982 shares in the company, valued at $1,416,065.06. 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 currently owned by insiders.

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.