CNX Resources Co. (NYSE:CNX) Shares Sold by Wallace Capital Management Inc.

Wallace Capital Management Inc. trimmed its holdings in shares of CNX Resources Co. (NYSE:CNX - Free Report) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 430,978 shares of the oil and gas producer's stock after selling 7,884 shares during the period. CNX Resources makes up approximately 2.2% of Wallace Capital Management Inc.'s investment portfolio, making the stock its 10th largest holding. Wallace Capital Management Inc. owned 0.29% of CNX Resources worth $15,804,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Northern Trust Corp grew its holdings in CNX Resources by 20.5% during the fourth quarter. Northern Trust Corp now owns 2,421,387 shares of the oil and gas producer's stock worth $88,792,000 after acquiring an additional 411,485 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in CNX Resources by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,000,464 shares of the oil and gas producer's stock worth $73,357,000 after acquiring an additional 139,647 shares during the period. Woodline Partners LP acquired a new position in CNX Resources during the fourth quarter worth about $71,971,000. Capital Research Global Investors grew its holdings in CNX Resources by 31.8% during the fourth quarter. Capital Research Global Investors now owns 1,450,000 shares of the oil and gas producer's stock worth $53,172,000 after acquiring an additional 350,000 shares during the period. Finally, Nuveen Asset Management LLC grew its holdings in CNX Resources by 30.9% during the fourth quarter. Nuveen Asset Management LLC now owns 1,365,407 shares of the oil and gas producer's stock worth $50,069,000 after acquiring an additional 322,203 shares during the period. 95.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Morgan Stanley reaffirmed an "underweight" rating and set a $31.00 target price on shares of CNX Resources in a report on Tuesday, April 15th. Bank of America lowered their target price on CNX Resources from $32.00 to $27.00 and set an "underperform" rating on the stock in a report on Tuesday, April 1st. JPMorgan Chase & Co. lifted their price target on CNX Resources from $32.00 to $33.00 and gave the stock an "underweight" rating in a research note on Thursday, March 13th. Piper Sandler lifted their price target on CNX Resources from $21.00 to $25.00 and gave the stock an "underweight" rating in a research note on Tuesday, May 13th. Finally, Stephens raised 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. Eight 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's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $31.58.

CNX Resources Stock Up 1.4%

NYSE CNX traded up $0.44 during trading on Friday, reaching $31.65. 1,297,529 shares of the company's stock were exchanged, compared to its average volume of 2,662,468. CNX Resources Co. has a fifty-two week low of $23.63 and a fifty-two week high of $41.93. The firm has a market capitalization of $4.58 billion, a PE ratio of -46.54, a P/E/G ratio of 0.42 and a beta of 0.62. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 0.45. The company's fifty day simple moving average is $30.85 and its 200-day simple moving average is $32.52.

Insiders Place Their Bets

In other news, Director J. Palmer Clarkson purchased 10,000 shares of CNX Resources stock in a transaction dated Monday, May 12th. The stock was acquired at an average cost of $31.20 per share, for a total transaction of $312,000.00. Following the acquisition, the director now directly owns 245,433 shares in the company, valued at $7,657,509.60. This represents a 4.25% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.10% of the company's stock.

CNX Resources Company 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.