Pitcairn Co. Sells 5,630 Shares of CNX Resources Co. (NYSE:CNX)

Pitcairn Co. decreased its holdings in shares of CNX Resources Co. (NYSE:CNX) by 20.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,232 shares of the oil and gas producer’s stock after selling 5,630 shares during the period. Pitcairn Co.’s holdings in CNX Resources were worth $724,000 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. Sequoia Financial Advisors LLC raised its holdings in shares of CNX Resources by 3.5% during the third quarter. Sequoia Financial Advisors LLC now owns 13,135 shares of the oil and gas producer’s stock valued at $428,000 after acquiring an additional 442 shares in the last quarter. Pullen Investment Management LLC increased its position in CNX Resources by 2.3% during the 2nd quarter. Pullen Investment Management LLC now owns 27,399 shares of the oil and gas producer’s stock valued at $666,000 after purchasing an additional 623 shares during the period. GAMMA Investing LLC raised its holdings in CNX Resources by 54.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock worth $46,000 after purchasing an additional 666 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. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in shares of CNX Resources by 3.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 29,307 shares of the oil and gas producer’s stock valued at $712,000 after purchasing an additional 941 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. BMO Capital Markets increased their price target on shares of CNX Resources from $26.00 to $29.00 and gave the stock a “market perform” rating in a research note on Friday, October 4th. Scotiabank raised their target price on CNX Resources from $25.00 to $27.00 and gave the company a “sector underperform” rating in a research note on Tuesday, August 20th. StockNews.com lowered CNX Resources from a “hold” rating to a “sell” rating in a research report on Saturday, August 3rd. Tudor Pickering upgraded CNX Resources to a “strong sell” rating in a report on Tuesday, October 1st. Finally, Capital One Financial cut shares of CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 target price on the stock. in a report on Monday, October 14th. 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, the stock presently has an average rating of “Hold” and a consensus price target of $29.00.

CNX Resources Price Performance

CNX opened at $41.09 on Monday. The firm has a market cap of $6.13 billion, a PE ratio of 12.92, a P/E/G ratio of 1.97 and a beta of 1.37. The stock has a 50-day moving average price of $35.00 and a 200-day moving average price of $28.92. CNX Resources Co. has a 1 year low of $19.07 and a 1 year high of $41.17. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.37 and a quick ratio of 0.36.

CNX Resources (NYSE:CNX) last issued its earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, topping 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 business had revenue of $424.21 million during the quarter, compared to analysts’ expectations of $398.33 million. During the same period in the previous year, the company earned $0.35 earnings per share. Sell-side analysts predict that CNX Resources Co. will post 1.53 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Bernard Lanigan, Jr. acquired 75,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was bought at an average price 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 of the company’s stock, valued at approximately $10,772,794.20. The trade was a 22.95 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.10% of the company’s stock.

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.