Occudo Quantitative Strategies LP Invests $443,000 in CNX Resources Co. (NYSE:CNX)

Occudo Quantitative Strategies LP bought a new position in CNX Resources Co. (NYSE:CNX - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 12,093 shares of the oil and gas producer's stock, valued at approximately $443,000.

Several other hedge funds have also added to or reduced their stakes in CNX. Bessemer Group Inc. lifted its stake in shares of CNX Resources by 131.5% in the 4th quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer's stock valued at $34,000 after acquiring an additional 526 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in CNX Resources in the 4th quarter worth approximately $39,000. VSM Wealth Advisory LLC purchased a new position in CNX Resources in the 4th quarter worth approximately $55,000. Principal Securities Inc. lifted its position in CNX Resources by 38.5% in the fourth quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer's stock valued at $91,000 after purchasing an additional 691 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of CNX Resources by 65.1% during the fourth quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer's stock valued at $119,000 after purchasing an additional 1,280 shares during the period. 95.16% of the stock is owned by institutional investors.

Analyst Ratings Changes

CNX has been the subject of a number of recent analyst reports. Roth Capital set a $30.00 price target on shares of CNX Resources in a report on Thursday, January 23rd. Mizuho boosted their price objective on shares of CNX Resources from $35.00 to $36.00 and gave the company an "underperform" rating in a research report on Tuesday, May 13th. Cowen reaffirmed a "hold" rating on shares of CNX Resources in a research note on Friday, April 25th. JPMorgan Chase & Co. raised their target price on CNX Resources from $32.00 to $33.00 and gave the stock an "underweight" rating in a research note on Thursday, March 13th. Finally, Stephens upgraded CNX Resources from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $35.00 to $48.00 in a report on Tuesday, March 18th. Eight investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, CNX Resources presently has a consensus rating of "Hold" and an average price target of $31.58.

Insider Buying and Selling at CNX Resources

In related news, Director J. Palmer Clarkson purchased 10,000 shares of the company's stock in a transaction dated Monday, May 12th. The shares were purchased at an average cost of $31.20 per share, with a total value of $312,000.00. Following the transaction, the director now directly owns 245,433 shares in the company, valued at $7,657,509.60. This trade represents a 4.25% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.10% of the company's stock.

CNX Resources Stock Down 1.2%

Shares of CNX Resources stock traded down $0.38 during trading on Wednesday, hitting $31.90. The company's stock had a trading volume of 412,026 shares, compared to its average volume of 2,968,010. CNX Resources Co. has a 52 week low of $23.63 and a 52 week high of $41.93. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.32 and a current ratio of 0.33. The company has a fifty day simple moving average of $30.81 and a two-hundred day simple moving average of $32.60. The company has a market capitalization of $4.62 billion, a PE ratio of -46.93, a P/E/G ratio of 0.42 and a beta of 0.62.

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.