Quantbot Technologies LP Sells 98,415 Shares of CNX Resources Co. (NYSE:CNX)

Quantbot Technologies LP cut its position in CNX Resources Co. (NYSE:CNX) by 34.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 188,065 shares of the oil and gas producer’s stock after selling 98,415 shares during the quarter. Quantbot Technologies LP owned about 0.12% of CNX Resources worth $4,570,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in CNX. Mizuho Markets Americas LLC purchased a new position in CNX Resources in the 2nd quarter worth approximately $97,200,000. American Century Companies Inc. raised its position in CNX Resources by 12.0% during the second quarter. American Century Companies Inc. now owns 3,699,186 shares of the oil and gas producer’s stock valued at $89,890,000 after purchasing an additional 397,729 shares in the last quarter. LSV Asset Management lifted its stake in CNX Resources by 1.4% during the second quarter. LSV Asset Management now owns 1,780,921 shares of the oil and gas producer’s stock worth $43,276,000 after purchasing an additional 23,800 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of CNX Resources by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,455,350 shares of the oil and gas producer’s stock worth $29,107,000 after purchasing an additional 9,356 shares in the last quarter. Finally, Tributary Capital Management LLC increased its position in shares of CNX Resources by 0.3% during the 2nd quarter. Tributary Capital Management LLC now owns 901,940 shares of the oil and gas producer’s stock valued at $21,917,000 after purchasing an additional 2,535 shares during the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on CNX shares. StockNews.com lowered CNX Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd. Scotiabank increased their target price on shares of CNX Resources from $25.00 to $27.00 and gave the company a “sector underperform” rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. upped their price target on shares of CNX Resources from $26.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Mizuho lifted their price objective on CNX Resources from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Truist Financial increased their target price on CNX Resources from $30.00 to $31.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, CNX Resources presently has an average rating of “Hold” and an average price target of $26.13.

CNX Resources Trading Up 2.5 %

NYSE CNX opened at $28.03 on Tuesday. The stock has a market cap of $4.30 billion, a P/E ratio of 5.08 and a beta of 1.37. CNX Resources Co. has a fifty-two week low of $19.07 and a fifty-two week high of $28.23. The stock has a 50 day simple moving average of $26.41 and a two-hundred day simple moving average of $24.77. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.40 and a current ratio of 0.41.

CNX Resources (NYSE:CNX) last issued its quarterly earnings data on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.09. The business had revenue of $321.44 million for the quarter, compared to the consensus estimate of $387.46 million. CNX Resources had a net margin of 26.64% and a return on equity of 7.51%. During the same period in the previous year, the firm earned $0.29 EPS. On average, analysts forecast that CNX Resources Co. will post 1.47 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Bernard Lanigan, Jr. bought 75,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was purchased at an average price of $26.81 per share, with a total value of $2,010,750.00. Following the transaction, the director now owns 401,820 shares of the company’s stock, valued at $10,772,794.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.10% of the stock is currently owned by company insiders.

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.