CNX Resources Co. (NYSE:CNX) Shares Sold by Duality Advisers LP

Duality Advisers LP trimmed its position in CNX Resources Co. (NYSE:CNX) by 26.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 81,455 shares of the oil and gas producer’s stock after selling 29,062 shares during the quarter. Duality Advisers LP’s holdings in CNX Resources were worth $1,629,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. IFP Advisors Inc raised its holdings in CNX Resources by 3,621.9% in the third quarter. IFP Advisors Inc now owns 21,066 shares of the oil and gas producer’s stock valued at $476,000 after buying an additional 20,500 shares during the period. SG Americas Securities LLC purchased a new position in shares of CNX Resources in the 3rd quarter valued at $3,968,000. Mach 1 Financial Group LLC acquired a new position in shares of CNX Resources during the 3rd quarter valued at $520,000. Friedenthal Financial purchased a new stake in CNX Resources during the 3rd quarter worth $746,000. Finally, Hanlon Investment Management Inc. acquired a new stake in CNX Resources in the 3rd quarter valued at $974,000. 95.16% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at CNX Resources

In other news, EVP Timothy Scott Bedard acquired 1,226 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was purchased at an average cost of $20.50 per share, with a total value of $25,133.00. Following the completion of the acquisition, the executive vice president now directly owns 1,226 shares in the company, valued at $25,133. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.65% of the company’s stock.

CNX Resources Stock Performance

Shares of CNX opened at $24.10 on Tuesday. CNX Resources Co. has a 52-week low of $14.36 and a 52-week high of $24.82. The company has a quick ratio of 0.49, a current ratio of 0.51 and a debt-to-equity ratio of 0.43. The firm has a market cap of $3.69 billion, a price-to-earnings ratio of 2.65 and a beta of 1.33. The business’s 50 day moving average is $22.24 and its two-hundred day moving average is $21.36.

CNX Resources (NYSE:CNX) last posted its quarterly earnings results on Thursday, January 25th. The oil and gas producer reported $2.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $2.59. The firm had revenue of $999.50 million for the quarter, compared to analysts’ expectations of $401.62 million. CNX Resources had a net margin of 50.34% and a return on equity of 9.00%. The firm’s quarterly revenue was down 38.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.64 earnings per share. Analysts forecast that CNX Resources Co. will post 1.31 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on CNX shares. Roth Mkm boosted their price objective on CNX Resources from $18.00 to $22.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Mizuho boosted their price target on CNX Resources from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Piper Sandler increased their price objective on shares of CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday. Bank of America raised shares of CNX Resources from an “underperform” rating to a “neutral” rating and set a $23.00 target price on the stock in a research report on Friday, January 5th. Finally, Truist Financial raised their price target on shares of CNX Resources from $28.00 to $30.00 and gave the company a “buy” rating in a report on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, CNX Resources has an average rating of “Hold” and an average price target of $24.43.

CNX Resources Company 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.