Congress Asset Management Co. Sells 2,411 Shares of CNX Resources Co. (NYSE:CNX)

Congress Asset Management Co. decreased its holdings in shares of CNX Resources Co. (NYSE:CNX) by 1.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 248,496 shares of the oil and gas producer’s stock after selling 2,411 shares during the period. Congress Asset Management Co. owned 0.16% of CNX Resources worth $8,094,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. GAMMA Investing LLC raised its holdings in shares of CNX Resources by 54.1% during the second quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock valued at $46,000 after acquiring an additional 666 shares in the last quarter. Blue Trust Inc. raised its holdings in CNX Resources by 135.4% in the 3rd quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer’s stock worth $64,000 after purchasing an additional 1,131 shares in the last quarter. CWM LLC lifted its position in shares of CNX Resources by 77.0% in the 3rd quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock worth $70,000 after purchasing an additional 935 shares during the period. Natixis bought a new stake in shares of CNX Resources during the 1st quarter valued at about $79,000. Finally, Innealta Capital LLC purchased a new position in shares of CNX Resources during the second quarter valued at about $131,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Insiders Place Their Bets

In other CNX Resources news, Director Bernard Lanigan, Jr. purchased 75,000 shares of the stock in a transaction dated Monday, September 9th. The shares were purchased at an average cost of $26.81 per share, with a total value of $2,010,750.00. Following the completion of the acquisition, the director now directly owns 401,820 shares in the company, valued at $10,772,794.20. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.10% of the company’s stock.

CNX Resources Stock Down 3.0 %

NYSE:CNX opened at $34.04 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.40 and a current ratio of 0.41. The firm has a market cap of $5.08 billion, a P/E ratio of 10.70 and a beta of 1.38. CNX Resources Co. has a fifty-two week low of $19.07 and a fifty-two week high of $37.57. The firm has a 50-day simple moving average of $31.52 and a two-hundred day simple moving average of $27.25.

CNX Resources (NYSE:CNX) last announced 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 during the quarter, compared to the consensus estimate of $398.33 million. CNX Resources had a net margin of 26.64% and a return on equity of 7.51%. During the same quarter last year, the firm earned $0.35 earnings per share. Analysts predict that CNX Resources Co. will post 1.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CNX has been the subject of several research analyst reports. Stephens raised their price objective on shares of CNX Resources from $26.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. JPMorgan Chase & Co. dropped their price target on CNX Resources from $32.00 to $31.00 and set a “neutral” rating on the stock in a research report on Wednesday. BMO Capital Markets increased their price objective on CNX Resources from $26.00 to $29.00 and gave the stock a “market perform” rating in a report on Friday, October 4th. Bank of America began coverage on shares of CNX Resources in a report on Monday. They set an “underperform” rating and a $34.00 target price on the stock. Finally, StockNews.com lowered shares of CNX Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd. Six analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target 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.