CNX Resources Co. (NYSE:CNX) Shares Sold by Farther Finance Advisors LLC

Farther Finance Advisors LLC lessened its stake in CNX Resources Co. (NYSE:CNX) by 39.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,490 shares of the oil and gas producer’s stock after selling 1,645 shares during the period. Farther Finance Advisors LLC’s holdings in CNX Resources were worth $81,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Investment Partners Asset Management Inc. acquired a new stake in shares of CNX Resources in the 3rd quarter valued at about $224,000. Semanteon Capital Management LP acquired a new stake in CNX Resources during the third quarter valued at approximately $282,000. State of Alaska Department of Revenue raised its stake in CNX Resources by 7.2% during the third quarter. State of Alaska Department of Revenue now owns 17,662 shares of the oil and gas producer’s stock valued at $575,000 after buying an additional 1,190 shares in the last quarter. Pullen Investment Management LLC lifted its holdings in CNX Resources by 14.3% during the 3rd quarter. Pullen Investment Management LLC now owns 31,310 shares of the oil and gas producer’s stock worth $1,020,000 after buying an additional 3,911 shares during the last quarter. Finally, Riverwater Partners LLC grew its position in shares of CNX Resources by 124.2% in the 3rd quarter. Riverwater Partners LLC now owns 146,363 shares of the oil and gas producer’s stock worth $4,839,000 after acquiring an additional 81,092 shares in the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at CNX Resources

In other news, Director Bernard Lanigan, Jr. bought 75,000 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was acquired at an average price of $26.81 per share, for a total transaction 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. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.10% of the stock is owned by insiders.

CNX Resources Trading Down 3.5 %

Shares of CNX stock opened at $38.47 on Wednesday. CNX Resources Co. has a 12 month low of $19.07 and a 12 month high of $40.08. The business’s 50 day moving average is $33.02 and its two-hundred day moving average is $28.02. The company has a quick ratio of 0.36, a current ratio of 0.37 and a debt-to-equity ratio of 0.46. The company has a market cap of $5.74 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 1.85 and a beta of 1.37.

CNX Resources (NYSE:CNX) last released its earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $398.33 million. During the same period in the prior year, the company earned $0.35 EPS. Equities analysts predict that CNX Resources Co. will post 1.53 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CNX. Truist Financial downgraded shares of CNX Resources from a “buy” rating to a “hold” rating and lowered their price objective for the company from $38.00 to $34.00 in a research report on Monday, October 28th. Stephens boosted their price target on shares of CNX Resources from $26.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Capital One Financial downgraded 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 report on Monday, October 14th. Tudor, Pickering, Holt & Co. downgraded CNX Resources from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. Finally, Piper Sandler lowered CNX Resources from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $22.00 to $20.00 in a research report on Thursday, August 15th. Six investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat, CNX Resources currently has a consensus rating of “Hold” and a consensus target price of $29.00.

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.