Riverwater Partners LLC Reduces Stock Holdings in CNX Resources Corporation. (NYSE:CNX)

Riverwater Partners LLC lessened its holdings in shares of CNX Resources Corporation. (NYSE:CNX - Free Report) by 36.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,173 shares of the oil and gas producer's stock after selling 45,724 shares during the period. CNX Resources comprises approximately 1.3% of Riverwater Partners LLC's investment portfolio, making the stock its 12th biggest position. Riverwater Partners LLC owned 0.05% of CNX Resources worth $2,524,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Bessemer Group Inc. increased its stake in CNX Resources by 131.5% in the 4th 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 period. Harvest Fund Management Co. Ltd acquired a new position in CNX Resources in the fourth quarter valued at approximately $39,000. VSM Wealth Advisory LLC purchased a new position in CNX Resources in the fourth quarter valued at $55,000. Harbor Capital Advisors Inc. acquired a new position in CNX Resources in the 1st quarter worth about $61,000. Finally, Sound Income Strategies LLC acquired a new stake in CNX Resources in the 1st quarter valued at $63,000. Institutional investors own 95.16% of the company's stock.

Insider Buying and Selling at CNX Resources

In other CNX Resources news, Director J. Palmer Clarkson purchased 10,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were acquired at an average cost of $31.20 per share, for a total transaction of $312,000.00. Following the completion of the purchase, the director now owns 245,433 shares of the company's stock, valued at approximately $7,657,509.60. The trade was a 4.25% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.10% of the company's stock.

CNX Resources Trading Up 2.3%

CNX opened at $34.35 on Friday. The company has a market cap of $4.97 billion, a price-to-earnings ratio of -16.67, a price-to-earnings-growth ratio of 0.32 and a beta of 0.66. The firm has a 50 day simple moving average of $31.45 and a 200 day simple moving average of $31.61. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.27 and a quick ratio of 0.25. CNX Resources Corporation. has a fifty-two week low of $23.63 and a fifty-two week high of $41.93.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Bank of America cut their price objective on CNX Resources from $32.00 to $27.00 and set an "underperform" rating for the company in a research note on Tuesday, April 1st. Scotiabank upgraded CNX Resources from a "sector underperform" rating to a "sector perform" rating and set a $33.00 target price on the stock in a research report on Friday, April 11th. Morgan Stanley reissued an "underweight" rating and set a $31.00 price target on shares of CNX Resources in a research report on Tuesday, April 15th. Stephens upgraded shares of CNX Resources from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $35.00 to $48.00 in a research note on Tuesday, March 18th. Finally, Mizuho raised their target price on shares of CNX Resources from $35.00 to $36.00 and gave the stock an "underperform" rating in a research report on Tuesday, May 13th. Eight equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $31.58.

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.

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