Chartwell Investment Partners LLC Trims Stake in CNX Resources Co. (NYSE:CNX)

Chartwell Investment Partners LLC trimmed its holdings in shares of CNX Resources Co. (NYSE:CNX - Free Report) by 10.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 280,389 shares of the oil and gas producer's stock after selling 31,516 shares during the period. Chartwell Investment Partners LLC owned about 0.19% of CNX Resources worth $9,132,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CNX. Mirae Asset Global Investments Co. Ltd. boosted its holdings in CNX Resources by 15.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 83,943 shares of the oil and gas producer's stock valued at $1,991,000 after acquiring an additional 10,993 shares during the period. QRG Capital Management Inc. grew its holdings in shares of CNX Resources by 8.3% in the first quarter. QRG Capital Management Inc. now owns 167,429 shares of the oil and gas producer's stock worth $3,971,000 after purchasing an additional 12,768 shares during the last quarter. US Bancorp DE increased its stake in shares of CNX Resources by 3.9% in the first quarter. US Bancorp DE now owns 26,860 shares of the oil and gas producer's stock worth $637,000 after buying an additional 999 shares during the period. Avantax Advisory Services Inc. bought a new stake in CNX Resources during the 1st quarter valued at $278,000. Finally, ProShare Advisors LLC boosted its position in CNX Resources by 3.7% during the 1st quarter. ProShare Advisors LLC now owns 35,570 shares of the oil and gas producer's stock valued at $844,000 after buying an additional 1,268 shares during the period. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at CNX Resources

In other CNX Resources news, Director Bernard Lanigan, Jr. acquired 75,000 shares of the company's stock in a transaction that occurred on Monday, September 9th. The shares were bought 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 directly owns 401,820 shares of the company's stock, valued at approximately $10,772,794.20. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.10% of the stock is currently owned by insiders.

CNX Resources Stock Up 3.8 %

CNX traded up $1.46 during midday trading on Monday, reaching $39.62. The company's stock had a trading volume of 1,040,365 shares, compared to its average volume of 2,709,889. The stock's 50-day moving average is $32.54 and its 200-day moving average is $27.81. CNX Resources Co. has a 1 year low of $19.07 and a 1 year high of $39.78. The firm has a market capitalization of $5.91 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 1.85 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 - Get Free Report) last posted its quarterly earnings data 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 return on equity of 7.54% and a net margin of 27.79%. The company had revenue of $424.21 million during the quarter, compared to analyst estimates of $398.33 million. During the same quarter last year, the company earned $0.35 EPS. As a group, research analysts expect that CNX Resources Co. will post 1.53 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CNX shares. Stephens boosted their price objective on shares of CNX Resources from $26.00 to $35.00 and gave the company an "equal weight" rating in a research report on Friday, October 25th. Tudor, Pickering, Holt & Co. downgraded CNX Resources from a "hold" rating to a "sell" rating in a report on Tuesday, October 1st. Truist Financial cut CNX Resources from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $38.00 to $34.00 in a report on Monday, October 28th. JPMorgan Chase & Co. reduced their target price on CNX Resources from $32.00 to $31.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 30th. Finally, Tudor Pickering raised CNX Resources to a "strong sell" rating in a research note on Tuesday, October 1st. Six analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $29.00.

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.