Riverwater Partners LLC Has $4.62 Million Stock Position in CNX Resources Co. (NYSE:CNX)

Riverwater Partners LLC lowered its position in shares of CNX Resources Co. (NYSE:CNX) by 14.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 125,897 shares of the oil and gas producer’s stock after selling 20,466 shares during the quarter. CNX Resources comprises 2.2% of Riverwater Partners LLC’s investment portfolio, making the stock its 7th biggest holding. Riverwater Partners LLC’s holdings in CNX Resources were worth $4,617,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CNX. Arrowstreet Capital Limited Partnership acquired a new stake in shares of CNX Resources in the 4th quarter valued at about $37,923,000. Raymond James Financial Inc. acquired a new stake in CNX Resources in the fourth quarter valued at approximately $14,268,000. Empirical Asset Management LLC bought a new stake in shares of CNX Resources during the fourth quarter valued at approximately $9,281,000. ExodusPoint Capital Management LP acquired a new position in shares of CNX Resources during the fourth quarter worth approximately $8,072,000. Finally, Empowered Funds LLC lifted its holdings in shares of CNX Resources by 328.0% in the 4th quarter. Empowered Funds LLC now owns 211,719 shares of the oil and gas producer’s stock worth $7,764,000 after purchasing an additional 162,247 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at CNX Resources

In related news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $31.09, for a total value of $33,421,750.00. Following the sale, the insider now directly owns 13,925,000 shares in the company, valued at approximately $432,928,250. The trade was a 7.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.10% of the stock is owned by company insiders.

CNX Resources Trading Down 6.2 %

NYSE CNX opened at $29.29 on Friday. The business’s fifty day moving average is $30.03 and its 200-day moving average is $33.35. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32. The stock has a market capitalization of $4.31 billion, a price-to-earnings ratio of -43.08, a PEG ratio of 0.42 and a beta of 1.26. CNX Resources Co. has a one year low of $22.82 and a one year high of $41.93.

CNX Resources (NYSE:CNX) last announced its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.57 EPS for the quarter, topping the consensus estimate of $0.43 by $0.14. CNX Resources had a negative net margin of 7.14% and a positive return on equity of 6.72%. Equities research analysts predict that CNX Resources Co. will post 2.18 EPS for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on CNX. Morgan Stanley set a $33.00 price objective on shares of CNX Resources and gave the stock an “underweight” rating in a report on Wednesday, March 26th. StockNews.com lowered shares of CNX Resources from a “hold” rating to a “sell” rating in a report on Thursday, February 13th. Mizuho cut their price target on CNX Resources from $38.00 to $34.00 and set an “underperform” rating for the company in a research note on Tuesday, January 14th. JPMorgan Chase & Co. raised their target price on CNX Resources from $32.00 to $33.00 and gave the company an “underweight” rating in a report on Thursday, March 13th. Finally, Truist Financial upped their price target on CNX Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Nine 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 company. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $30.83.

CNX Resources 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.