Riverwater Partners LLC Sells 27,679 Shares of CNX Resources Corporation. $CNX

Riverwater Partners LLC decreased its stake in CNX Resources Corporation. (NYSE:CNX) by 34.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 52,470 shares of the oil and gas producer’s stock after selling 27,679 shares during the period. Riverwater Partners LLC’s holdings in CNX Resources were worth $1,929,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. State of Wyoming bought a new stake in CNX Resources in the second quarter worth about $29,000. Caitlin John LLC bought a new stake in CNX Resources in the third quarter worth about $31,000. Los Angeles Capital Management LLC bought a new stake in CNX Resources in the fourth quarter worth about $34,000. Highlander Partners L.P. bought a new stake in CNX Resources in the fourth quarter worth about $56,000. Finally, EverSource Wealth Advisors LLC raised its position in CNX Resources by 393.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,925 shares of the oil and gas producer’s stock worth $65,000 after acquiring an additional 1,535 shares during the period. Institutional investors own 95.16% of the company’s stock.

CNX Resources Stock Performance

NYSE CNX opened at $32.15 on Friday. The company’s 50 day moving average is $36.66 and its 200-day moving average is $38.05. CNX Resources Corporation. has a 12-month low of $27.72 and a 12-month high of $43.62. The company has a quick ratio of 0.46, a current ratio of 0.49 and a debt-to-equity ratio of 0.47. The firm has a market cap of $4.55 billion, a P/E ratio of 4.47 and a beta of 0.58.

Wall Street Analyst Weigh In

Several brokerages have commented on CNX. Tudor Pickering raised shares of CNX Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, May 8th. Barclays lowered their price target on shares of CNX Resources from $36.00 to $35.00 and set an “underweight” rating on the stock in a research report on Tuesday, May 26th. Zacks Research lowered shares of CNX Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Truist Financial initiated coverage on shares of CNX Resources in a research report on Tuesday, March 24th. They issued a “sell” rating and a $35.00 price target on the stock. Finally, Weiss Ratings lowered shares of CNX Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, May 28th. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $35.44.

Insider Activity at CNX Resources

In related news, Director Maureen Lally-Green sold 23,631 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $39.52, for a total transaction of $933,897.12. Following the sale, the director owned 169,577 shares of the company’s stock, valued at approximately $6,701,683.04. This represents a 12.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William N. Thorndike, Jr. sold 28,800 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $38.25, for a total transaction of $1,101,600.00. Following the sale, the director directly owned 426,585 shares in the company, valued at $16,316,876.25. This trade represents a 6.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 5.03% of the company’s stock.

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.