Glenmede Trust Co. NA Sells 13,607 Shares of CNX Resources Co. (NYSE:CNX)

Glenmede Trust Co. NA lowered its stake in CNX Resources Co. (NYSE:CNX - Free Report) by 1.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 989,666 shares of the oil and gas producer's stock after selling 13,607 shares during the quarter. Glenmede Trust Co. NA owned approximately 0.66% of CNX Resources worth $32,233,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in CNX. Price T Rowe Associates Inc. MD boosted its position in shares of CNX Resources by 5.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 112,259 shares of the oil and gas producer's stock valued at $2,663,000 after acquiring an additional 5,975 shares during the period. Boston Partners purchased a new position in shares of CNX Resources during the 1st quarter valued at $951,000. GAMMA Investing LLC grew its position in shares of CNX Resources by 54.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer's stock valued at $46,000 after purchasing an additional 666 shares in the last quarter. QRG Capital Management Inc. increased its holdings in shares of CNX Resources by 13.8% in the second quarter. QRG Capital Management Inc. now owns 190,498 shares of the oil and gas producer's stock worth $4,629,000 after purchasing an additional 23,069 shares during the period. Finally, Friedenthal Financial purchased a new stake in shares of CNX Resources in the second quarter worth $749,000. Hedge funds and other institutional investors own 95.16% of the company's stock.

Insider Buying and Selling at CNX Resources

In other news, Director Bernard Lanigan, Jr. acquired 75,000 shares of the stock in a transaction dated Monday, September 9th. The stock was purchased at an average cost of $26.81 per share, with a total value of $2,010,750.00. Following the completion of the purchase, the director now owns 401,820 shares in the company, valued at approximately $10,772,794.20. The trade was a 22.95 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.65% of the company's stock.

Analyst Upgrades and Downgrades

CNX has been the subject of several recent analyst reports. Tudor, Pickering, Holt & Co. cut CNX Resources from a "hold" rating to a "sell" rating in a research report on Tuesday, October 1st. Stephens boosted their price objective on CNX Resources from $26.00 to $35.00 and gave the stock an "equal weight" rating in a report on Friday, October 25th. Truist Financial downgraded shares of CNX Resources from a "buy" rating to a "hold" rating and lowered their target price for the company from $38.00 to $34.00 in a research note on Monday, October 28th. Capital One Financial cut shares of CNX Resources from an "overweight" rating to an "equal weight" rating and set a $25.00 price target for the company. in a research note on Monday, October 14th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of CNX Resources from $32.00 to $31.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 30th. Six equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $29.00.

CNX Resources Trading Down 1.1 %

CNX Resources stock traded down $0.44 during mid-day trading on Thursday, hitting $40.34. The company's stock had a trading volume of 1,048,483 shares, compared to its average volume of 2,686,576. The business has a 50 day moving average price of $35.71 and a 200-day moving average price of $29.24. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.37 and a quick ratio of 0.36. CNX Resources Co. has a 12 month low of $19.07 and a 12 month high of $41.93. The stock has a market cap of $6.02 billion, a price-to-earnings ratio of 12.69, a price-to-earnings-growth ratio of 1.95 and a beta of 1.37.

CNX Resources (NYSE:CNX - Get Free Report) last released its 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 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 in the previous year, the company posted $0.35 EPS. As a group, analysts forecast that CNX Resources Co. will post 1.53 EPS 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.