Intech Investment Management LLC Sells 133,672 Shares of CNX Resources Corporation. $CNX

Intech Investment Management LLC lessened its stake in shares of CNX Resources Corporation. (NYSE:CNX) by 42.3% during the third quarter, Holdings Channel reports. The fund owned 182,595 shares of the oil and gas producer’s stock after selling 133,672 shares during the quarter. Intech Investment Management LLC’s holdings in CNX Resources were worth $5,865,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of CNX. State of Wyoming acquired a new stake in CNX Resources in the second quarter worth $29,000. Elevation Point Wealth Partners LLC bought a new position in shares of CNX Resources during the 2nd quarter worth about $46,000. EverSource Wealth Advisors LLC grew its stake in shares of CNX Resources by 393.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,925 shares of the oil and gas producer’s stock valued at $65,000 after buying an additional 1,535 shares during the period. MTM Investment Management LLC bought a new stake in CNX Resources in the 2nd quarter valued at about $67,000. Finally, Hantz Financial Services Inc. raised its stake in CNX Resources by 462.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 2,954 shares of the oil and gas producer’s stock worth $95,000 after buying an additional 2,429 shares during the period. 95.16% of the stock is owned by institutional investors.

CNX Resources Trading Up 5.3%

Shares of CNX opened at $41.78 on Friday. The firm has a market cap of $5.95 billion, a P/E ratio of 11.35, a price-to-earnings-growth ratio of 0.43 and a beta of 0.66. CNX Resources Corporation. has a fifty-two week low of $27.68 and a fifty-two week high of $42.13. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.41 and a current ratio of 0.44. The business has a 50-day moving average of $37.78 and a 200 day moving average of $34.98.

CNX Resources (NYSE:CNX) last posted its earnings results on Thursday, January 29th. The oil and gas producer reported $1.28 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.94. The firm had revenue of $610.48 million during the quarter, compared to the consensus estimate of $422.65 million. CNX Resources had a net margin of 28.28% and a return on equity of 9.29%. The company’s revenue was up 347.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.97) earnings per share. As a group, research analysts forecast that CNX Resources Corporation. will post 2.18 EPS for the current year.

Analyst Upgrades and Downgrades

CNX has been the subject of a number of research reports. Weiss Ratings raised CNX Resources from a “hold (c)” rating to a “buy (b)” rating in a research note on Wednesday, February 11th. Zacks Research lowered shares of CNX Resources from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. Barclays boosted their target price on shares of CNX Resources from $34.00 to $35.00 and gave the stock an “underweight” rating in a research report on Friday, January 30th. Roth Mkm set a $35.00 price target on shares of CNX Resources and gave the company a “neutral” rating in a research report on Thursday, January 29th. Finally, Piper Sandler set a $26.00 price target on CNX Resources in a research note on Monday, February 2nd. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $36.00.

Insider Activity

In other news, Director Bernard Lanigan, Jr. sold 46,119 shares of CNX Resources stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $40.60, for a total value of $1,872,431.40. Following the completion of the transaction, the director directly owned 177,180 shares in the company, valued at approximately $7,193,508. The trade was a 20.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.10% of the stock is currently owned by corporate insiders.

CNX Resources Company Profile

CNX Resources Corporation is a natural gas and natural gas liquids producer with operations concentrated in the Appalachian Basin. Established as an independent, publicly traded entity in 2018 following its spinoff from Consol Energy, the company focuses on the exploration, development and production of hydrocarbon resources in the Marcellus and Utica shales across Pennsylvania, West Virginia and Ohio.

In addition to its upstream activities, CNX Resources has invested in midstream infrastructure through its subsidiary that gathers, processes and transports natural gas.