Quantbot Technologies LP Sells 97,172 Shares of CNX Resources Corporation. $CNX

Quantbot Technologies LP decreased its position in shares of CNX Resources Corporation. (NYSE:CNX) by 23.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 315,302 shares of the oil and gas producer’s stock after selling 97,172 shares during the period. Quantbot Technologies LP owned 0.23% of CNX Resources worth $10,128,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. State of Wyoming acquired a new position in shares of CNX Resources during the second quarter worth approximately $29,000. Caitlin John LLC acquired a new position in CNX Resources during the 3rd quarter valued at $31,000. Elevation Point Wealth Partners LLC acquired a new position in CNX Resources during the 2nd quarter valued at $46,000. EverSource Wealth Advisors LLC grew its position in 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 worth $65,000 after purchasing an additional 1,535 shares during the last quarter. Finally, MTM Investment Management LLC acquired a new position in shares of CNX Resources during the second quarter valued at about $67,000. Institutional investors own 95.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CNX shares. Mizuho upped their price target on CNX Resources from $35.00 to $43.00 and gave the company a “neutral” rating in a report on Friday, December 12th. Barclays raised their target price on CNX Resources from $34.00 to $35.00 and gave the stock an “underweight” rating in a research report on Friday, January 30th. Scotiabank reissued a “sector perform” rating and issued a $44.00 price target on shares of CNX Resources in a report on Wednesday, January 21st. Roth Mkm set a $35.00 price objective on shares of CNX Resources and gave the stock a “neutral” rating in a report on Thursday, January 29th. Finally, Zacks Research cut shares of CNX Resources from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $36.00.

Insider Transactions at CNX Resources

In other CNX Resources news, Director Bernard Lanigan, Jr. sold 46,119 shares of the 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 transaction, the director directly owned 177,180 shares in the company, valued at approximately $7,193,508. This trade represents a 20.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.10% of the company’s stock.

CNX Resources Trading Up 5.3%

Shares of CNX opened at $41.78 on Friday. CNX Resources Corporation. has a 52-week low of $27.68 and a 52-week high of $42.13. The company has a market cap of $5.95 billion, a price-to-earnings ratio of 11.35, a PEG ratio of 0.41 and a beta of 0.66. 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 stock has a fifty day moving average price of $37.78 and a two-hundred day moving average price of $34.93.

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

About CNX Resources

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.