SeaBridge Investment Advisors LLC Sells 23,352 Shares of CNX Resources Corporation. $CNX

SeaBridge Investment Advisors LLC lowered its stake in shares of CNX Resources Corporation. (NYSE:CNX) by 24.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 73,671 shares of the oil and gas producer’s stock after selling 23,352 shares during the quarter. SeaBridge Investment Advisors LLC owned 0.05% of CNX Resources worth $2,366,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. State of Wyoming bought a new position in CNX Resources in the second quarter valued at $29,000. Ameritas Advisory Services LLC purchased a new position in shares of CNX Resources in the 2nd quarter worth about $32,000. Elevation Point Wealth Partners LLC bought a new position in shares of CNX Resources during the 2nd quarter valued at about $46,000. EverSource Wealth Advisors LLC increased its position in shares of CNX Resources by 393.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,925 shares of the oil and gas producer’s stock valued at $65,000 after purchasing an additional 1,535 shares during the last quarter. Finally, MTM Investment Management LLC purchased a new position in shares of CNX Resources during the 2nd quarter valued at about $67,000. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CNX has been the subject of several research reports. JPMorgan Chase & Co. raised CNX Resources from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $36.00 to $38.00 in a research note on Monday, December 8th. Morgan Stanley lowered their price objective on shares of CNX Resources from $32.00 to $31.00 and set an “underweight” rating for the company in a report on Tuesday, October 14th. Barclays upped their price objective on shares of CNX Resources from $32.00 to $34.00 and gave the company an “equal weight” rating in a research note on Friday, October 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of CNX Resources in a research report on Monday, December 29th. Finally, Mizuho boosted their price target on shares of CNX Resources from $35.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $34.00.

CNX Resources Stock Up 0.3%

Shares of NYSE CNX opened at $36.25 on Wednesday. The firm’s fifty day moving average is $37.22 and its 200 day moving average is $33.36. CNX Resources Corporation. has a 52 week low of $27.00 and a 52 week high of $42.13. The company has a quick ratio of 0.31, a current ratio of 0.34 and a debt-to-equity ratio of 0.55. The company has a market cap of $4.89 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 0.31 and a beta of 0.63.

CNX Resources (NYSE:CNX) last announced its quarterly earnings results on Thursday, October 30th. The oil and gas producer reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.09. CNX Resources had a net margin of 16.56% and a return on equity of 9.10%. The business had revenue of $423.00 million during the quarter, compared to analysts’ expectations of $408.80 million. The company’s revenue was up 37.6% compared to the same quarter last year. On average, equities research analysts expect that CNX Resources Corporation. will post 2.18 earnings per share for the current year.

CNX Resources Profile

CNX Resources Corporation is a natural gas and natural gas liquids producer with operations concentrated in the Appalachian Basin. Established as an independent, publicly traded entity in 2018 following its spinoff from Consol Energy, the company focuses on the exploration, development and production of hydrocarbon resources in the Marcellus and Utica shales across Pennsylvania, West Virginia and Ohio.

In addition to its upstream activities, CNX Resources has invested in midstream infrastructure through its subsidiary that gathers, processes and transports natural gas.