Trust Point Inc. Sells 14,375 Shares of CNX Resources Corporation. (NYSE:CNX)

Trust Point Inc. cut its holdings in shares of CNX Resources Corporation. (NYSE:CNX - Free Report) by 60.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,300 shares of the oil and gas producer's stock after selling 14,375 shares during the period. Trust Point Inc.'s holdings in CNX Resources were worth $293,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. increased its holdings in CNX Resources by 131.5% during the 4th quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer's stock worth $34,000 after purchasing an additional 526 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in CNX Resources during the fourth quarter worth $39,000. VSM Wealth Advisory LLC purchased a new stake in CNX Resources in the 4th quarter valued at $55,000. Harbor Capital Advisors Inc. bought a new position in CNX Resources during the 1st quarter valued at $61,000. Finally, Sound Income Strategies LLC purchased a new position in CNX Resources during the 1st quarter worth $63,000. Institutional investors and hedge funds own 95.16% of the company's stock.

CNX Resources Stock Performance

Shares of CNX stock opened at $33.55 on Wednesday. The firm's 50 day moving average is $31.24 and its 200 day moving average is $31.63. The stock has a market capitalization of $4.86 billion, a P/E ratio of -16.29, a PEG ratio of 0.31 and a beta of 0.66. CNX Resources Corporation. has a 12 month low of $23.63 and a 12 month high of $41.93. The company has a current ratio of 0.27, a quick ratio of 0.25 and a debt-to-equity ratio of 0.63.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CNX. Cowen restated a "hold" rating on shares of CNX Resources in a report on Friday, April 25th. Morgan Stanley reaffirmed an "underweight" rating and issued a $31.00 target price on shares of CNX Resources in a report on Tuesday, April 15th. Bank of America dropped their price target on CNX Resources from $32.00 to $27.00 and set an "underperform" rating on the stock in a report on Tuesday, April 1st. Scotiabank upgraded 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. Finally, Piper Sandler raised their target price on CNX Resources from $21.00 to $25.00 and gave the company an "underweight" rating in a research report on Tuesday, May 13th. Eight research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, CNX Resources has an average rating of "Hold" and an average price target of $31.58.

Insider Buying and Selling at CNX Resources

In other news, Director J. Palmer Clarkson acquired 10,000 shares of the business's stock in a transaction dated Monday, May 12th. The stock was bought at an average cost of $31.20 per share, for a total transaction of $312,000.00. Following the completion of the transaction, the director now owns 245,433 shares of the company's stock, valued at $7,657,509.60. The trade was a 4.25% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 4.59% of the company's stock.

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.

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