CoreCommodity Management LLC Sells 10,089 Shares of CNX Resources Co. (NYSE:CNX)

CoreCommodity Management LLC trimmed its holdings in CNX Resources Co. (NYSE:CNX - Free Report) by 49.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,375 shares of the oil and gas producer's stock after selling 10,089 shares during the quarter. CoreCommodity Management LLC's holdings in CNX Resources were worth $380,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership bought a new stake in CNX Resources in the 4th quarter valued at approximately $37,923,000. Northern Trust Corp increased its stake in shares of CNX Resources by 20.5% in the fourth quarter. Northern Trust Corp now owns 2,421,387 shares of the oil and gas producer's stock valued at $88,792,000 after buying an additional 411,485 shares during the period. Raymond James Financial Inc. bought a new position in CNX Resources in the fourth quarter worth approximately $14,268,000. Bridgewater Associates LP purchased a new position in shares of CNX Resources during the fourth quarter valued at approximately $13,430,000. Finally, Capital Research Global Investors boosted its position in CNX Resources by 31.8% in the fourth quarter. Capital Research Global Investors now owns 1,450,000 shares of the oil and gas producer's stock worth $53,172,000 after purchasing an additional 350,000 shares during the last quarter. 95.16% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Piper Sandler dropped their target price on CNX Resources from $22.00 to $21.00 and set an "underweight" rating for the company in a report on Tuesday, April 22nd. Scotiabank upgraded CNX Resources from a "sector underperform" rating to a "sector perform" rating and set a $33.00 target price on the stock in a research report on Friday, April 11th. Raymond James raised CNX Resources from an "underperform" rating to a "market perform" rating in a research note on Tuesday, February 18th. Roth Capital set a $30.00 target price on CNX Resources in a report on Thursday, January 23rd. Finally, Cowen reiterated a "hold" rating on shares of CNX Resources in a report on Friday, April 25th. Eight research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $31.17.

CNX Resources Price Performance

Shares of NYSE CNX traded down $0.71 during midday trading on Monday, reaching $30.62. The company's stock had a trading volume of 710,010 shares, compared to its average volume of 2,671,336. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.32 and a current ratio of 0.33. CNX Resources Co. has a fifty-two week low of $23.18 and a fifty-two week high of $41.93. The business's 50 day moving average price is $30.44 and its two-hundred day moving average price is $32.71. The company has a market cap of $4.43 billion, a P/E ratio of -45.00, a P/E/G ratio of 0.42 and a beta of 0.62.

About CNX Resources

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.