Seven Eight Capital LP Sells 27,889 Shares of CNX Resources Co. (NYSE:CNX)

Seven Eight Capital LP trimmed its position in shares of CNX Resources Co. (NYSE:CNX) by 26.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 75,789 shares of the oil and gas producer’s stock after selling 27,889 shares during the period. Seven Eight Capital LP’s holdings in CNX Resources were worth $1,798,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Hexagon Capital Partners LLC raised its stake in shares of CNX Resources by 113.4% during the first quarter. Hexagon Capital Partners LLC now owns 2,138 shares of the oil and gas producer’s stock worth $51,000 after acquiring an additional 1,136 shares in the last quarter. First Eagle Investment Management LLC bought a new position in shares of CNX Resources during the fourth quarter valued at about $55,000. TFO Wealth Partners LLC increased its holdings in shares of CNX Resources by 64,084.6% in the fourth quarter. TFO Wealth Partners LLC now owns 8,344 shares of the oil and gas producer’s stock worth $167,000 after buying an additional 8,331 shares during the period. Heritage Wealth Management LLC bought a new stake in shares of CNX Resources in the 4th quarter valued at about $214,000. Finally, M&T Bank Corp boosted its holdings in CNX Resources by 10.5% during the 4th quarter. M&T Bank Corp now owns 10,657 shares of the oil and gas producer’s stock valued at $214,000 after acquiring an additional 1,014 shares during the period. Institutional investors own 95.16% of the company’s stock.

CNX Resources Stock Down 1.5 %

CNX traded down $0.38 on Tuesday, hitting $25.45. The company had a trading volume of 3,906,823 shares, compared to its average volume of 2,783,525. The stock has a fifty day simple moving average of $25.08 and a 200-day simple moving average of $23.01. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.53 and a quick ratio of 0.51. The firm has a market capitalization of $3.90 billion, a P/E ratio of 4.61 and a beta of 1.38. CNX Resources Co. has a 52-week low of $18.17 and a 52-week high of $26.60.

CNX Resources (NYSE:CNX) last released its earnings results on Thursday, April 25th. The oil and gas producer reported $0.45 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 during the quarter, compared to analysts’ expectations of $420.13 million. As a group, equities analysts expect that CNX Resources Co. will post 1.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CNX has been the topic of a number of analyst reports. Stephens reaffirmed an “equal weight” rating and issued a $27.00 price target on shares of CNX Resources in a research note on Monday, July 15th. Roth Mkm lifted their target price on shares of CNX Resources from $18.00 to $22.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Scotiabank upped their price target on shares of CNX Resources from $20.00 to $25.00 and gave the company a “sector underperform” rating in a report on Thursday, April 11th. Piper Sandler raised their price target on shares of CNX Resources from $18.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, April 19th. Finally, Mizuho boosted their price objective on shares of CNX Resources from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $25.57.

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.