CNX Resources Co. (NYSE:CNX) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC trimmed its holdings in shares of CNX Resources Co. (NYSE:CNX) by 11.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 141,453 shares of the oil and gas producer’s stock after selling 19,052 shares during the period. Wedge Capital Management L L P NC owned about 0.09% of CNX Resources worth $5,187,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CNX. Blue Trust Inc. lifted its holdings in shares of CNX Resources by 135.4% during 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 in the last quarter. CWM LLC lifted its stake in shares of CNX Resources by 77.0% during the third 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 in the last quarter. GAMMA Investing LLC boosted its position in shares of CNX Resources by 62.1% in the third quarter. GAMMA Investing LLC now owns 3,073 shares of the oil and gas producer’s stock worth $100,000 after buying an additional 1,177 shares during the period. Atomi Financial Group Inc. acquired a new stake in shares of CNX Resources in the third quarter valued at about $202,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of CNX Resources during the 3rd quarter valued at about $205,000. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

CNX Resources Stock Performance

CNX stock opened at $30.14 on Friday. The firm has a market cap of $4.50 billion, a P/E ratio of 9.48, a P/E/G ratio of 1.09 and a beta of 1.42. The stock’s 50 day simple moving average is $36.53 and its 200 day simple moving average is $31.99. 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 Co. has a 12-month low of $19.07 and a 12-month high of $41.93.

CNX Resources (NYSE:CNX) last posted its quarterly earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share (EPS) 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 company had revenue of $424.21 million for the quarter, compared to the consensus estimate of $398.33 million. During the same period last year, the firm posted $0.35 EPS. As a group, equities research analysts predict that CNX Resources Co. will post 1.57 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CNX. TD Cowen began coverage on CNX Resources in a report on Wednesday. They issued a “hold” rating and a $27.00 price target for the company. Tudor Pickering raised shares of CNX Resources to a “strong sell” rating in a report on Tuesday, October 1st. Mizuho cut their price objective on shares of CNX Resources from $38.00 to $34.00 and set an “underperform” rating on the stock in a report on Tuesday, January 14th. Morgan Stanley started coverage on CNX Resources in a research note on Friday, January 10th. They set an “underweight” rating and a $29.00 target price for the company. Finally, Bank of America started coverage on CNX Resources in a research note on Monday, October 28th. They set an “underperform” rating and a $34.00 price objective for the company. Nine investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $29.75.

Insider Buying and Selling at CNX Resources

In related news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $31.09, for a total value of $33,421,750.00. Following the sale, the insider now owns 13,925,000 shares of the company’s stock, valued at approximately $432,928,250. This trade represents a 7.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.65% of the stock is currently owned by insiders.

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.