CNX Resources Co. (NYSE:CNX) Shares Sold by Aequim Alternative Investments LP

Aequim Alternative Investments LP lowered its position in CNX Resources Co. (NYSE:CNX - Free Report) by 13.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,437,927 shares of the oil and gas producer's stock after selling 369,900 shares during the quarter. CNX Resources accounts for approximately 2.8% of Aequim Alternative Investments LP's holdings, making the stock its 9th biggest holding. Aequim Alternative Investments LP owned 1.63% of CNX Resources worth $79,403,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its holdings in shares of CNX Resources by 12.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,860,817 shares of the oil and gas producer's stock worth $60,607,000 after acquiring an additional 202,890 shares during the last quarter. Bridges Investment Management Inc. purchased a new position in CNX Resources in the 2nd quarter valued at about $916,000. Paralel Advisors LLC acquired a new stake in shares of CNX Resources during the 2nd quarter worth about $2,338,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of CNX Resources by 311.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 616,734 shares of the oil and gas producer's stock worth $20,087,000 after buying an additional 466,694 shares in the last quarter. Finally, Choreo LLC purchased a new stake in shares of CNX Resources during the second quarter worth about $701,000. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Piper Sandler raised their target price on shares of CNX Resources from $20.00 to $23.00 and gave the stock an "underweight" rating in a research report on Friday. Truist Financial raised their price objective on CNX Resources from $34.00 to $35.00 and gave the stock a "hold" rating in a report on Friday. Mizuho lifted their price objective on CNX Resources from $32.00 to $33.00 and gave the company a "neutral" rating in a research report on Monday, October 14th. Tudor, Pickering, Holt & Co. downgraded CNX Resources from a "hold" rating to a "sell" rating in a research report on Tuesday, October 1st. Finally, BMO Capital Markets lifted their price target on CNX Resources from $26.00 to $29.00 and gave the company a "market perform" rating in a report on Friday, October 4th. Seven analysts have rated the stock with a sell rating and six have issued a hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Reduce" and an average price target of $30.00.

CNX Resources Trading Up 0.5 %

Shares of NYSE CNX traded up $0.17 during midday trading on Tuesday, hitting $36.89. The stock had a trading volume of 1,473,817 shares, compared to its average volume of 2,653,274. 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 Co. has a 1-year low of $19.07 and a 1-year high of $41.93. The company has a market capitalization of $5.51 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 1.78 and a beta of 1.43. The company has a fifty day moving average price of $36.92 and a 200 day moving average price of $30.09.

CNX Resources (NYSE:CNX - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share for the quarter, beating 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 analysts' expectations of $398.33 million. During the same period in the previous year, the company posted $0.35 earnings per share. On average, analysts predict that CNX Resources Co. will post 1.53 earnings per share for the current year.

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.