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

Riverwater Partners LLC trimmed its position in shares of CNX Resources Co. (NYSE:CNX) by 14.0% during the fourth quarter, according to the company in 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 period. CNX Resources accounts for approximately 2.2% of Riverwater Partners LLC’s investment portfolio, making the stock its 7th biggest position. Riverwater Partners LLC owned approximately 0.08% of CNX Resources worth $4,617,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Harvest Fund Management Co. Ltd acquired a new position in shares of CNX Resources in the fourth quarter valued at $39,000. VSM Wealth Advisory LLC acquired a new position in shares of CNX Resources in the fourth quarter valued at approximately $55,000. Principal Securities Inc. grew its position in shares of CNX Resources by 38.5% in the fourth quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer’s stock valued at $91,000 after purchasing an additional 691 shares during the last quarter. Blue Trust Inc. increased its stake in shares of CNX Resources by 65.1% during the fourth quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer’s stock worth $119,000 after purchasing an additional 1,280 shares during the period. Finally, Heck Capital Advisors LLC acquired a new stake in CNX Resources during the 4th quarter worth approximately $121,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other 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 transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.10% of the stock is currently owned by corporate insiders.

CNX Resources Stock Down 6.2 %

CNX stock opened at $29.29 on Friday. The firm has a 50-day moving average price of $30.03 and a 200-day moving average price of $33.35. CNX Resources Co. has a 12 month low of $22.82 and a 12 month high of $41.93. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $4.31 billion, a P/E ratio of -43.08, a price-to-earnings-growth ratio of 0.42 and a beta of 1.26.

CNX Resources (NYSE:CNX) last issued its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates 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%. As a group, equities research analysts anticipate that CNX Resources Co. will post 2.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Mizuho lowered their price objective on CNX Resources from $38.00 to $34.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 14th. Stephens raised shares of CNX Resources from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $35.00 to $48.00 in a research report on Tuesday, March 18th. JPMorgan Chase & Co. lifted their price objective on shares of CNX Resources from $32.00 to $33.00 and gave the stock an “underweight” rating in a research note on Thursday, March 13th. Roth Capital set a $30.00 target price on shares of CNX Resources in a research report on Thursday, January 23rd. Finally, Piper Sandler dropped their price target on shares of CNX Resources from $23.00 to $22.00 and set an “underweight” rating for the company in a research report on Wednesday, January 29th. Nine equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, CNX Resources presently has a consensus rating of “Reduce” and a consensus target price of $30.83.

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.