Capital Management Corp VA Sells 97,365 Shares of CNX Resources Co. (NYSE:CNX)

Capital Management Corp VA reduced its holdings in shares of CNX Resources Co. (NYSE:CNX) by 20.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 382,966 shares of the oil and gas producer’s stock after selling 97,365 shares during the period. CNX Resources accounts for about 2.2% of Capital Management Corp VA’s investment portfolio, making the stock its 15th largest holding. Capital Management Corp VA’s holdings in CNX Resources were worth $12,473,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CNX. GAMMA Investing LLC lifted 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 valued at $46,000 after acquiring an additional 666 shares during the period. Blue Trust Inc. raised its position 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 worth $64,000 after buying an additional 1,131 shares during the last quarter. CWM LLC grew its stake in shares of CNX Resources by 77.0% in the third quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock worth $70,000 after acquiring an additional 935 shares during the period. Natixis bought a new position in shares of CNX Resources during the 1st quarter valued at $79,000. Finally, Innealta Capital LLC bought a new position in CNX Resources in the second quarter valued at about $131,000. 95.16% of the stock is owned by hedge funds and other institutional investors.

CNX Resources Trading Up 2.2 %

Shares of CNX opened at $34.70 on Tuesday. CNX Resources Co. has a fifty-two week low of $19.07 and a fifty-two week high of $37.57. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.37. The company’s fifty day moving average is $31.65 and its 200 day moving average is $27.37. The stock has a market capitalization of $5.18 billion, a PE ratio of 10.91, a P/E/G ratio of 1.67 and a beta of 1.37.

CNX Resources (NYSE:CNX) last posted its earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.09. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. The firm had revenue of $424.21 million for the quarter, compared to the consensus estimate of $398.33 million. During the same period in the previous year, the firm posted $0.35 EPS. Sell-side analysts expect that CNX Resources Co. will post 1.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on CNX shares. Truist Financial downgraded CNX Resources from a “buy” rating to a “hold” rating and lowered their target price for the company from $38.00 to $34.00 in a report on Monday, October 28th. Tudor Pickering raised CNX Resources to a “strong sell” rating in a research note on Tuesday, October 1st. StockNews.com downgraded CNX Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd. Bank of America initiated coverage on shares of CNX Resources in a research note on Monday, October 28th. They set an “underperform” rating and a $34.00 target price on the stock. Finally, Stephens increased their price target on CNX Resources from $26.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Six analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat, CNX Resources currently has an average rating of “Hold” and an average target price of $29.00.

Insider Buying and Selling at CNX Resources

In related news, Director Bernard Lanigan, Jr. bought 75,000 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was purchased at an average price of $26.81 per share, for a total transaction of $2,010,750.00. Following the acquisition, the director now owns 401,820 shares in the company, valued at $10,772,794.20. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 4.65% of the company’s stock.

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.