Riverwater Partners LLC Has $2.52 Million Stake in CNX Resources Corporation. (NYSE:CNX)

Riverwater Partners LLC lowered its stake in shares of CNX Resources Corporation. (NYSE:CNX - Free Report) by 36.3% during the 1st quarter, according to its most recent disclosure 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 quarter. CNX Resources comprises 1.3% of Riverwater Partners LLC's portfolio, making the stock its 12th largest position. Riverwater Partners LLC owned approximately 0.05% of CNX Resources worth $2,524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rhumbline Advisers raised its position in CNX Resources by 1.3% in the fourth quarter. Rhumbline Advisers now owns 494,625 shares of the oil and gas producer's stock worth $18,138,000 after acquiring an additional 6,404 shares during the period. Principal Securities Inc. increased its holdings in CNX Resources by 38.5% in the 4th quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer's stock valued at $91,000 after acquiring an additional 691 shares during the last quarter. Principal Financial Group Inc. increased its holdings in CNX Resources by 1.6% in the 4th quarter. Principal Financial Group Inc. now owns 464,860 shares of the oil and gas producer's stock valued at $17,046,000 after acquiring an additional 7,223 shares during the last quarter. Avalon Capital Management bought a new stake in CNX Resources in the 4th quarter valued at $254,000. Finally, QRG Capital Management Inc. increased its holdings in CNX Resources by 3.7% in the 4th quarter. QRG Capital Management Inc. now owns 200,732 shares of the oil and gas producer's stock valued at $7,361,000 after acquiring an additional 7,086 shares during the last quarter. Hedge funds and other institutional investors own 95.16% of the company's stock.

CNX Resources Stock Down 0.6%

NYSE:CNX traded down $0.22 during trading hours on Monday, hitting $34.17. The stock had a trading volume of 1,772,791 shares, compared to its average volume of 2,609,543. The company has a current ratio of 0.27, a quick ratio of 0.25 and a debt-to-equity ratio of 0.63. CNX Resources Corporation. has a 1-year low of $23.71 and a 1-year high of $41.93. The business has a 50 day simple moving average of $31.60 and a two-hundred day simple moving average of $31.46. The company has a market cap of $4.94 billion, a PE ratio of -16.59, a price-to-earnings-growth ratio of 0.32 and a beta of 0.66.

Insider Activity

In related news, Director J. Palmer Clarkson bought 10,000 shares of the business's stock in a transaction on Monday, May 12th. The shares were bought 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 $7,657,509.60. This represents a 4.25% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.59% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CNX. Scotiabank upgraded 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 report on Friday, April 11th. Bank of America dropped their target price on shares of CNX Resources from $32.00 to $27.00 and set an "underperform" rating on the stock in a research report on Tuesday, April 1st. Stephens raised shares of CNX Resources from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $35.00 to $48.00 in a report on Tuesday, March 18th. Piper Sandler increased their price target on shares of CNX Resources from $21.00 to $25.00 and gave the stock an "underweight" rating in a report on Tuesday, May 13th. Finally, Morgan Stanley reissued an "underweight" rating and set a $31.00 price target on shares of CNX Resources in a report on Tuesday, April 15th. Eight equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, CNX Resources currently has an average rating of "Hold" and an average target price of $31.58.

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.