CNX Resources Co. (NYSE:CNX) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC trimmed its position in shares of CNX Resources Co. (NYSE:CNX) by 28.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 64,702 shares of the oil and gas producer’s stock after selling 25,622 shares during the quarter. Intech Investment Management LLC’s holdings in CNX Resources were worth $2,107,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in CNX. GAMMA Investing LLC grew its holdings in shares of CNX Resources by 54.1% during the second 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 in the last quarter. Blue Trust Inc. raised its holdings in CNX Resources by 135.4% in the 3rd quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer’s stock valued at $64,000 after acquiring an additional 1,131 shares during the last quarter. CWM LLC boosted its holdings in shares of 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 purchasing an additional 935 shares during the last quarter. Natixis purchased a new stake in shares of CNX Resources in the first quarter valued at approximately $79,000. Finally, Innealta Capital LLC acquired a new stake in shares of CNX Resources in the second quarter valued at approximately $131,000. 95.16% of the stock is owned by institutional investors and hedge funds.

CNX Resources Price Performance

CNX stock opened at $41.09 on Monday. The business’s fifty day moving average price is $35.00 and its 200 day moving average price is $28.92. CNX Resources Co. has a 12-month low of $19.07 and a 12-month high of $41.17. The company has a market capitalization of $6.13 billion, a PE ratio of 12.92, a P/E/G ratio of 1.97 and a beta of 1.37. The company has a current ratio of 0.37, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46.

CNX Resources (NYSE:CNX) last issued its quarterly earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.09. The business had revenue of $424.21 million for the quarter, compared to analysts’ expectations of $398.33 million. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. During the same quarter in the prior year, the company earned $0.35 earnings per share. On average, sell-side analysts anticipate that CNX Resources Co. will post 1.53 EPS for the current year.

Insider Buying and Selling at CNX Resources

In related news, Director Bernard Lanigan, Jr. acquired 75,000 shares of the stock in a transaction dated Monday, September 9th. The stock was acquired at an average cost of $26.81 per share, with a total value of $2,010,750.00. Following the completion of the transaction, the director now owns 401,820 shares in the company, valued at $10,772,794.20. This represents a 22.95 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Tudor, Pickering, Holt & Co. cut CNX Resources from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. Tudor Pickering upgraded shares of CNX Resources to a “strong sell” rating in a research report on Tuesday, October 1st. Truist Financial lowered shares of CNX Resources from a “buy” rating to a “hold” rating and decreased their target price for the company from $38.00 to $34.00 in a report on Monday, October 28th. Capital One Financial downgraded shares of CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 price target for the company. in a report on Monday, October 14th. Finally, Bank of America assumed coverage on shares of CNX Resources in a research report on Monday, October 28th. They set an “underperform” rating and a $34.00 price target on the stock. Six research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $29.00.

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.