Tributary Capital Management LLC Sells 318,985 Shares of CNX Resources Co. (NYSE:CNX)

Tributary Capital Management LLC reduced its position in CNX Resources Co. (NYSE:CNX) by 35.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 582,955 shares of the oil and gas producer’s stock after selling 318,985 shares during the quarter. Tributary Capital Management LLC owned approximately 0.38% of CNX Resources worth $18,987,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in shares of CNX Resources by 54.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock worth $46,000 after buying an additional 666 shares in the last quarter. Hexagon Capital Partners LLC grew its position in CNX Resources by 113.4% in the 1st quarter. Hexagon Capital Partners LLC now owns 2,138 shares of the oil and gas producer’s stock valued at $51,000 after purchasing an additional 1,136 shares during the period. Blue Trust Inc. boosted its position in shares of CNX Resources by 135.4% during the third quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer’s stock valued at $64,000 after buying an additional 1,131 shares during the last quarter. CWM LLC raised its position in CNX Resources by 77.0% in the 3rd quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock valued at $70,000 after buying an additional 935 shares during the last quarter. Finally, Natixis purchased a new position in CNX Resources during the 1st quarter worth $79,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insiders Place Their Bets

In other CNX Resources news, Director Bernard Lanigan, Jr. bought 75,000 shares of CNX Resources stock in a transaction dated Monday, September 9th. The shares were purchased at an average cost of $26.81 per share, with a total value of $2,010,750.00. Following the completion of the purchase, the director now owns 401,820 shares of the company’s stock, valued at approximately $10,772,794.20. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CNX. Tudor Pickering raised shares of CNX Resources to a “strong sell” rating in a research report on Tuesday, October 1st. Scotiabank upped their price target on shares of CNX Resources from $25.00 to $27.00 and gave the company a “sector underperform” rating in a research note on Tuesday, August 20th. Tudor, Pickering, Holt & Co. downgraded CNX Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Stephens boosted their price objective on CNX Resources from $26.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, StockNews.com cut CNX Resources from a “hold” rating to a “sell” rating in a report on Saturday, August 3rd. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $27.90.

CNX Resources Trading Down 1.7 %

Shares of CNX opened at $36.57 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.40 and a current ratio of 0.41. CNX Resources Co. has a fifty-two week low of $19.07 and a fifty-two week high of $37.57. The firm has a 50 day moving average price of $30.89 and a 200-day moving average price of $26.99. The firm has a market cap of $5.60 billion, a price-to-earnings ratio of 6.63 and a beta of 1.38.

CNX Resources (NYSE:CNX) last posted its quarterly earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.09. The business had revenue of $424.21 million during the quarter, compared to the consensus estimate of $398.33 million. CNX Resources had a net margin of 26.64% and a return on equity of 7.51%. During the same period in the previous year, the firm posted $0.35 earnings per share. As a group, equities research analysts forecast that CNX Resources Co. will post 1.43 earnings per share for the current year.

CNX Resources 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.