Tributary Capital Management LLC Sells 318,985 Shares of CNX Resources Co. (NYSE:CNX)

Tributary Capital Management LLC cut its stake in shares of CNX Resources Co. (NYSE:CNX - Free Report) by 35.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 582,955 shares of the oil and gas producer's stock after selling 318,985 shares during the quarter. Tributary Capital Management LLC owned approximately 0.38% of CNX Resources worth $18,987,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. QRG Capital Management Inc. lifted its holdings in CNX Resources by 13.8% in the 2nd 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 in the last quarter. Duality Advisers LP lifted its holdings in CNX Resources by 61.1% in the 1st quarter. Duality Advisers LP now owns 131,196 shares of the oil and gas producer's stock worth $3,112,000 after purchasing an additional 49,741 shares in the last quarter. Boston Partners purchased a new position in CNX Resources in the 1st quarter worth approximately $951,000. Moloney Securities Asset Management LLC purchased a new position in CNX Resources in the 1st quarter worth approximately $986,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in CNX Resources by 243.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 72,656 shares of the oil and gas producer's stock worth $1,723,000 after purchasing an additional 51,490 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors.

Insider Buying and Selling at CNX Resources

In other CNX Resources news, Director Bernard Lanigan, Jr. acquired 75,000 shares of the business's stock in a transaction on Monday, September 9th. The shares were bought at an average price of $26.81 per share, with a total value of $2,010,750.00. Following the transaction, the director now directly owns 401,820 shares of the company's stock, valued at $10,772,794.20. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 3.10% of the stock is currently owned by corporate insiders.

CNX Resources Trading Down 3.7 %

NYSE:CNX traded down $1.36 during midday trading on Monday, hitting $35.21. 1,904,159 shares of the company traded hands, compared to its average volume of 2,718,249. The firm's fifty day moving average is $30.89 and its 200-day moving average is $26.99. CNX Resources Co. has a 12-month low of $19.07 and a 12-month high of $37.57. The firm has a market capitalization of $5.40 billion, a P/E ratio of 6.63 and a beta of 1.38. The company has a current ratio of 0.41, a quick ratio of 0.40 and a debt-to-equity ratio of 0.46.

CNX Resources (NYSE:CNX - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.09. The company had revenue of $424.21 million for the quarter, compared to analyst estimates of $398.33 million. CNX Resources had a return on equity of 7.51% and a net margin of 26.64%. During the same quarter in the prior year, the firm posted $0.35 EPS. On average, sell-side analysts predict that CNX Resources Co. will post 1.43 EPS for the current year.

Wall Street Analysts Forecast Growth

CNX has been the topic of a number of research analyst reports. Piper Sandler cut CNX Resources from a "neutral" rating to an "underweight" rating and lowered their price target for the stock from $22.00 to $20.00 in a report on Thursday, August 15th. StockNews.com cut CNX Resources from a "hold" rating to a "sell" rating in a report on Saturday, August 3rd. Tudor Pickering raised CNX Resources to a "strong sell" rating in a report on Tuesday, October 1st. Scotiabank upped their price objective on CNX Resources from $25.00 to $27.00 and gave the stock a "sector underperform" rating in a report on Tuesday, August 20th. Finally, Stephens upped 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. Six equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat, CNX Resources currently has a consensus rating of "Hold" and an average target price of $28.60.

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.