CNX Resources Co. (NYSE:CNX) Shares Sold by Private Trust Co. NA

Private Trust Co. NA lowered its stake in CNX Resources Co. (NYSE:CNX) by 66.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 793 shares of the oil and gas producer’s stock after selling 1,547 shares during the period. Private Trust Co. NA’s holdings in CNX Resources were worth $26,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CNX. GAMMA Investing LLC raised its position in CNX Resources by 54.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock worth $46,000 after buying an additional 666 shares during the last quarter. Blue Trust Inc. raised its holdings in CNX Resources by 135.4% during 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 lifted its position in CNX Resources by 77.0% in the third quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock valued at $70,000 after purchasing an additional 935 shares during the period. Innealta Capital LLC acquired a new position in CNX Resources during the 2nd quarter worth approximately $131,000. Finally, Atomi Financial Group Inc. acquired a new stake in shares of CNX Resources in the 3rd quarter valued at approximately $202,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

CNX Resources Price Performance

CNX stock opened at $40.52 on Friday. The stock has a market capitalization of $6.05 billion, a price-to-earnings ratio of 12.74, a price-to-earnings-growth ratio of 1.95 and a beta of 1.37. The stock’s fifty day simple moving average is $36.09 and its 200-day simple moving average is $29.43. CNX Resources Co. has a 52-week low of $19.07 and a 52-week high of $41.93. 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 (NYSE:CNX) last posted its quarterly earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 EPS for the quarter, beating the consensus estimate of $0.32 by $0.09. The company had revenue of $424.21 million during the quarter, compared to analysts’ expectations of $398.33 million. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. During the same quarter in the previous year, the business earned $0.35 EPS. Equities research analysts expect that CNX Resources Co. will post 1.53 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Stephens upped their price objective on CNX Resources from $26.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Piper Sandler lowered shares of CNX Resources from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $22.00 to $20.00 in a research report on Thursday, August 15th. 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 target price for the company. StockNews.com lowered shares of CNX Resources from a “hold” rating to a “sell” rating in a research report on Saturday, August 3rd. Finally, Mizuho lifted their price objective on CNX Resources from $32.00 to $33.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Six investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat, CNX Resources presently has an average rating of “Hold” and a consensus target price of $29.00.

Insider Buying and Selling

In related news, Director Bernard Lanigan, Jr. purchased 75,000 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were bought at an average price of $26.81 per share, for a total transaction of $2,010,750.00. Following the acquisition, the director now directly owns 401,820 shares in the company, valued at $10,772,794.20. This trade represents a 22.95 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. 3.10% of the stock is currently owned by company insiders.

About CNX Resources

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.