Systematic Financial Management LP Sells 21,390 Shares of CNX Resources Corp (NYSE:CNX)

Systematic Financial Management LP cut its stake in CNX Resources Corp (NYSE:CNX) by 17.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,460 shares of the oil and gas producer’s stock after selling 21,390 shares during the quarter. Systematic Financial Management LP’s holdings in CNX Resources were worth $749,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in CNX Resources by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 15,751,720 shares of the oil and gas producer’s stock valued at $179,888,000 after purchasing an additional 192,424 shares during the last quarter. Macquarie Group Ltd. raised its stake in shares of CNX Resources by 869.5% in the fourth quarter. Macquarie Group Ltd. now owns 7,756 shares of the oil and gas producer’s stock worth $89,000 after acquiring an additional 6,956 shares during the last quarter. FMR LLC raised its stake in shares of CNX Resources by 7.2% in the fourth quarter. FMR LLC now owns 2,573,040 shares of the oil and gas producer’s stock worth $29,384,000 after acquiring an additional 172,252 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of CNX Resources by 4.2% in the fourth quarter. Geode Capital Management LLC now owns 1,999,815 shares of the oil and gas producer’s stock worth $22,837,000 after acquiring an additional 79,739 shares during the last quarter. Finally, First Citizens Bank & Trust Co. raised its stake in shares of CNX Resources by 43.6% in the first quarter. First Citizens Bank & Trust Co. now owns 32,073 shares of the oil and gas producer’s stock worth $345,000 after acquiring an additional 9,745 shares during the last quarter. 98.10% of the stock is currently owned by institutional investors.

In other CNX Resources news, Director J. Palmer Clarkson purchased 10,000 shares of the stock in a transaction dated Monday, June 10th. The stock was bought at an average price of $7.50 per share, for a total transaction of $75,000.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Bernard Lanigan, Jr. purchased 198,000 shares of the stock in a transaction dated Friday, May 31st. The shares were acquired at an average price of $7.56 per share, with a total value of $1,496,880.00. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 497,550 shares of company stock valued at $3,489,382. 2.40% of the stock is owned by corporate insiders.

Shares of NYSE CNX traded up $0.16 during trading on Tuesday, reaching $7.13. The company had a trading volume of 106,713 shares, compared to its average volume of 5,645,485. CNX Resources Corp has a 52 week low of $6.14 and a 52 week high of $16.09. The business’s 50 day moving average is $7.13. The company has a current ratio of 0.74, a quick ratio of 0.72 and a debt-to-equity ratio of 0.54. The stock has a market cap of $1.33 billion, a PE ratio of 4.65 and a beta of 0.67.

CNX Resources (NYSE:CNX) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.06 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.06). CNX Resources had a return on equity of 4.09% and a net margin of 17.60%. The business had revenue of $605.03 million for the quarter, compared to analyst estimates of $357.30 million. During the same quarter in the prior year, the firm earned $0.33 EPS. The firm’s quarterly revenue was up 50.5% compared to the same quarter last year. As a group, equities analysts expect that CNX Resources Corp will post 0.57 EPS for the current year.

Separately, Zacks Investment Research raised shares of CNX Resources from a “sell” rating to a “hold” rating and set a $9.00 target price for the company in a research note on Thursday, August 1st. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $13.60.

CNX Resources Profile

CNX Resources Corporation, an independent oil and gas company, explores for, develops, and produces natural gas primarily in the Appalachian Basin. The company operates through two divisions, Exploration and Production (E&P), and Midstream. The E&P division produces pipeline quality natural gas primarily to gas wholesalers.

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Institutional Ownership by Quarter for CNX Resources (NYSE:CNX)

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