CNX Resources Co. (NYSE:CNX) Position Decreased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC trimmed its stake in shares of CNX Resources Co. (NYSE:CNX - Free Report) by 13.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 122,611 shares of the oil and gas producer's stock after selling 18,842 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.08% of CNX Resources worth $3,860,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in CNX. Bessemer Group Inc. raised its holdings in shares of CNX Resources by 131.5% during the fourth 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 during the period. Harvest Fund Management Co. Ltd acquired a new stake in shares of CNX Resources during the fourth quarter worth $39,000. VSM Wealth Advisory LLC acquired a new stake in shares of CNX Resources during the fourth quarter worth $55,000. UMB Bank n.a. raised its holdings in shares of CNX Resources by 59.7% during the first quarter. UMB Bank n.a. now owns 2,062 shares of the oil and gas producer's stock worth $65,000 after purchasing an additional 771 shares during the period. Finally, Ameriflex Group Inc. acquired a new stake in shares of CNX Resources during the fourth quarter worth $88,000. 95.16% of the stock is currently owned by institutional investors.

Insider Activity at CNX Resources

In other CNX Resources news, Director J. Palmer Clarkson acquired 10,000 shares of CNX Resources stock in a transaction dated Monday, May 12th. The stock was bought at an average price of $31.20 per share, for a total transaction of $312,000.00. Following the transaction, the director now owns 245,433 shares in the company, valued at approximately $7,657,509.60. This trade represents a 4.25% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.59% of the stock is currently owned by insiders.

CNX Resources Price Performance

CNX traded up $0.55 on Friday, reaching $32.63. The company had a trading volume of 1,911,951 shares, compared to its average volume of 2,642,221. The company has a fifty day moving average of $31.06 and a 200-day moving average of $31.79. The company has a market capitalization of $4.72 billion, a P/E ratio of -47.98, a PEG ratio of 0.42 and a beta of 0.66. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 0.45. CNX Resources Co. has a one year low of $23.63 and a one year high of $41.93.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CNX shares. Raymond James raised shares of CNX Resources from an "underperform" rating to a "market perform" rating in a report on Tuesday, February 18th. Stephens raised shares of CNX Resources from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $35.00 to $48.00 in a report on Tuesday, March 18th. Bank of America dropped their price objective on shares of CNX Resources from $32.00 to $27.00 and set an "underperform" rating on the stock in a report on Tuesday, April 1st. Morgan Stanley reaffirmed an "underweight" rating and issued a $31.00 price objective on shares of CNX Resources in a report on Tuesday, April 15th. Finally, Scotiabank raised shares of CNX Resources from a "sector underperform" rating to a "sector perform" rating and set a $33.00 price objective on the stock in a report on Friday, April 11th. 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 stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $31.58.

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.