DAVENPORT & Co LLC Sells 229,937 Shares of CNX Resources Corporation. (NYSE:CNX)

DAVENPORT & Co LLC reduced its position in shares of CNX Resources Corporation. (NYSE:CNX - Free Report) by 55.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 182,586 shares of the oil and gas producer's stock after selling 229,937 shares during the quarter. DAVENPORT & Co LLC owned about 0.12% of CNX Resources worth $5,774,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. State of Alaska Department of Revenue lifted its holdings in CNX Resources by 2.4% in the 1st quarter. State of Alaska Department of Revenue now owns 17,437 shares of the oil and gas producer's stock valued at $548,000 after acquiring an additional 415 shares during the last quarter. Pullen Investment Management LLC raised its holdings in shares of CNX Resources by 1.5% in the 1st quarter. Pullen Investment Management LLC now owns 32,633 shares of the oil and gas producer's stock worth $1,027,000 after purchasing an additional 482 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in CNX Resources by 21.0% during the first quarter. Farther Finance Advisors LLC now owns 2,931 shares of the oil and gas producer's stock valued at $93,000 after purchasing an additional 508 shares during the last quarter. SummerHaven Investment Management LLC boosted its holdings in CNX Resources by 1.8% during the first quarter. SummerHaven Investment Management LLC now owns 30,284 shares of the oil and gas producer's stock worth $953,000 after buying an additional 525 shares in the last quarter. Finally, Bessemer Group Inc. grew its position in CNX Resources by 131.5% in the fourth quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer's stock worth $34,000 after buying an additional 526 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

CNX Resources Stock Down 1.2%

Shares of NYSE:CNX traded down $0.39 during trading on Friday, reaching $32.02. 2,606,206 shares of the company traded hands, compared to its average volume of 2,608,682. The firm has a fifty day simple moving average of $32.11 and a 200 day simple moving average of $31.28. The company has a quick ratio of 0.25, a current ratio of 0.27 and a debt-to-equity ratio of 0.63. CNX Resources Corporation. has a 1-year low of $23.85 and a 1-year high of $41.93. The firm has a market cap of $4.63 billion, a P/E ratio of -15.54, a price-to-earnings-growth ratio of 0.30 and a beta of 0.66.

Analysts Set New Price Targets

A number of brokerages have recently commented on CNX. Mizuho increased their price objective on CNX Resources from $35.00 to $36.00 and gave the company an "underperform" rating in a research report on Tuesday, May 13th. Piper Sandler increased their price target on CNX Resources from $21.00 to $25.00 and gave the company an "underweight" rating in a research report on Tuesday, May 13th. Scotiabank raised shares of CNX Resources from a "sector underperform" rating to a "sector perform" rating and set a $33.00 price objective for the company in a research note on Friday, April 11th. Stephens upgraded shares of CNX Resources from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $35.00 to $48.00 in a report on Tuesday, March 18th. Finally, JPMorgan Chase & Co. boosted their price target on shares of CNX Resources from $32.00 to $33.00 and gave the company an "underweight" rating in a report on Thursday, March 13th. Eight analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $31.58.

Insider Buying and Selling

In other CNX Resources news, Director J. Palmer Clarkson purchased 10,000 shares of the company's stock in a transaction dated Monday, May 12th. The shares were bought at an average price of $31.20 per share, for a total transaction of $312,000.00. Following the purchase, the director directly owned 245,433 shares in the company, valued at $7,657,509.60. This trade represents a 4.25% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.10% of the stock is owned by corporate insiders.

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.