Petra Financial Advisors Inc. Sells 330 Shares of CNX Resources Co. (NYSE:CNX)

Petra Financial Advisors Inc. trimmed its position in shares of CNX Resources Co. (NYSE:CNX) by 0.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 72,331 shares of the oil and gas producer’s stock after selling 330 shares during the period. CNX Resources makes up approximately 1.6% of Petra Financial Advisors Inc.’s holdings, making the stock its 15th largest holding. Petra Financial Advisors Inc.’s holdings in CNX Resources were worth $2,356,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in CNX Resources by 54.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock valued at $46,000 after purchasing an additional 666 shares in the last quarter. Blue Trust Inc. increased its stake in shares of CNX Resources by 135.4% in the third quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer’s stock valued at $64,000 after buying an additional 1,131 shares in the last quarter. CWM LLC raised its holdings in shares of CNX Resources by 77.0% in the third quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock valued at $70,000 after buying an additional 935 shares during the last quarter. Natixis acquired a new position in CNX Resources during the 1st quarter worth about $79,000. Finally, Innealta Capital LLC bought a new stake in CNX Resources during the 2nd quarter worth about $131,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

CNX Resources Stock Down 0.3 %

CNX traded down $0.12 during trading on Thursday, hitting $34.99. The company had a trading volume of 15,113 shares, compared to its average volume of 2,705,240. The firm’s 50-day moving average price is $31.38 and its 200 day moving average price is $27.20. The company has a market capitalization of $5.36 billion, a PE ratio of 6.36 and a beta of 1.38. The company has a quick ratio of 0.40, a current ratio of 0.41 and a debt-to-equity ratio of 0.46. CNX Resources Co. has a one year low of $19.07 and a one year high of $37.57.

CNX Resources (NYSE:CNX) last issued its quarterly earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.09. CNX Resources had a net margin of 26.64% and a return on equity of 7.51%. The company had revenue of $424.21 million during the quarter, compared to analysts’ expectations of $398.33 million. During the same period last year, the business earned $0.35 EPS. As a group, equities analysts expect that CNX Resources Co. will post 1.43 earnings per share for the current year.

Analyst Ratings Changes

CNX has been the subject of a number of research analyst reports. Piper Sandler downgraded shares of CNX Resources from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $22.00 to $20.00 in a research note on Thursday, August 15th. Tudor, Pickering, Holt & Co. lowered shares of CNX Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. Capital One Financial cut shares of CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 target price for the company. in a research report on Monday, October 14th. BMO Capital Markets lifted their price objective on CNX Resources from $26.00 to $29.00 and gave the stock a “market perform” rating in a research note on Friday, October 4th. Finally, Mizuho upped their price objective on CNX Resources from $32.00 to $33.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Six equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $29.00.

Insider Buying and Selling at CNX Resources

In other CNX Resources news, Director Bernard Lanigan, Jr. purchased 75,000 shares of the business’s stock in a transaction on Monday, September 9th. The stock was acquired at an average price of $26.81 per share, with a total value of $2,010,750.00. Following the acquisition, the director now directly owns 401,820 shares of the company’s stock, valued at $10,772,794.20. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 3.10% of the company’s stock.

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.