CoreCommodity Management LLC Lowers Holdings in CNX Resources Co. (NYSE:CNX)

CoreCommodity Management LLC lowered its position in CNX Resources Co. (NYSE:CNX - Free Report) by 49.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,375 shares of the oil and gas producer's stock after selling 10,089 shares during the period. CoreCommodity Management LLC's holdings in CNX Resources were worth $380,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. raised its holdings in CNX Resources by 131.5% in 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 in the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of CNX Resources in the 4th quarter worth about $39,000. VSM Wealth Advisory LLC purchased a new position in CNX Resources during the 4th quarter valued at about $55,000. Principal Securities Inc. boosted its stake in CNX Resources by 38.5% during the fourth quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer's stock worth $91,000 after acquiring an additional 691 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in CNX Resources by 65.1% in the fourth quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer's stock worth $119,000 after purchasing an additional 1,280 shares during the period. Hedge funds and other institutional investors own 95.16% of the company's stock.

CNX Resources Stock Performance

CNX stock traded up $0.37 during trading on Friday, reaching $31.32. The stock had a trading volume of 1,359,826 shares, compared to its average volume of 2,676,503. The firm has a market cap of $4.53 billion, a PE ratio of -46.06, a PEG ratio of 0.42 and a beta of 0.62. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 0.45. The stock's 50 day moving average is $30.44 and its two-hundred day moving average is $32.76. CNX Resources Co. has a 52 week low of $23.10 and a 52 week high of $41.93.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Scotiabank raised CNX Resources from a "sector underperform" rating to a "sector perform" rating and set a $33.00 price target on the stock in a research report on Friday, April 11th. Piper Sandler dropped their target price on CNX Resources from $22.00 to $21.00 and set an "underweight" rating on the stock in a report on Tuesday, April 22nd. Roth Capital set a $30.00 price target on CNX Resources in a report on Thursday, January 23rd. Morgan Stanley reiterated an "underweight" rating and issued a $31.00 price target on shares of CNX Resources in a research note on Tuesday, April 15th. Finally, Bank of America dropped their target price on shares of CNX Resources from $32.00 to $27.00 and set an "underperform" rating on the stock in a research note on Tuesday, April 1st. Eight analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, CNX Resources has a consensus rating of "Hold" and an average price target of $31.17.

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.