Intech Investment Management LLC Sells 25,622 Shares of CNX Resources Co. (NYSE:CNX)

Intech Investment Management LLC cut its position in shares of CNX Resources Co. (NYSE:CNX - Free Report) by 28.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,702 shares of the oil and gas producer's stock after selling 25,622 shares during the period. Intech Investment Management LLC's holdings in CNX Resources were worth $2,107,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of CNX Resources by 311.0% during the 3rd 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 purchasing an additional 466,694 shares in the last quarter. Natixis Advisors LLC raised its stake in shares of CNX Resources by 3.1% in the 3rd quarter. Natixis Advisors LLC now owns 41,644 shares of the oil and gas producer's stock valued at $1,356,000 after acquiring an additional 1,241 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of CNX Resources in the 3rd quarter valued at approximately $205,000. Victory Capital Management Inc. raised its stake in shares of CNX Resources by 2.8% in the 3rd quarter. Victory Capital Management Inc. now owns 97,972 shares of the oil and gas producer's stock valued at $3,191,000 after acquiring an additional 2,663 shares in the last quarter. Finally, Entropy Technologies LP bought a new position in shares of CNX Resources in the 3rd quarter valued at approximately $519,000. 95.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Tudor Pickering raised CNX Resources to a "strong sell" rating in a research report on Tuesday, October 1st. Piper Sandler downgraded CNX Resources from a "neutral" rating to an "underweight" rating and dropped their price target for the stock from $22.00 to $20.00 in a research report on Thursday, August 15th. StockNews.com lowered CNX Resources from a "hold" rating to a "sell" rating in a report on Saturday, August 3rd. Truist Financial lowered CNX Resources from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $38.00 to $34.00 in a report on Monday, October 28th. Finally, BMO Capital Markets boosted their price target on CNX Resources from $26.00 to $29.00 and gave the company a "market perform" rating in a research note on Friday, October 4th. Six analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat.com, CNX Resources has a consensus rating of "Hold" and a consensus price target of $29.00.

Insider Buying and Selling at CNX Resources

In other news, Director Bernard Lanigan, Jr. bought 75,000 shares of the company's stock in a transaction dated Monday, September 9th. The stock was bought at an average price of $26.81 per share, for a total transaction of $2,010,750.00. Following the completion of the transaction, the director now directly owns 401,820 shares in the company, valued at $10,772,794.20. The trade was a 22.95 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 3.10% of the company's stock.

CNX Resources Price Performance

CNX traded down $0.67 during trading on Monday, hitting $40.42. The company's stock had a trading volume of 2,812,404 shares, compared to its average volume of 2,696,887. The firm's 50 day moving average price is $35.25 and its two-hundred day moving average price is $29.04. 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 12 month low of $19.07 and a 12 month high of $41.93. The stock has a market capitalization of $6.03 billion, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 1.99 and a beta of 1.37.

CNX Resources (NYSE:CNX - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.09. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. The firm had revenue of $424.21 million during the quarter, compared to the consensus estimate of $398.33 million. During the same quarter in the previous year, the company posted $0.35 EPS. Sell-side analysts forecast that CNX Resources Co. will post 1.53 earnings per share for the current fiscal year.

CNX Resources 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.