SG Americas Securities LLC Takes $667,000 Position in CNX Resources Corporation. (NYSE:CNX)

SG Americas Securities LLC bought a new stake in CNX Resources Corporation. (NYSE:CNX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 21,176 shares of the oil and gas producer's stock, valued at approximately $667,000.

Several other hedge funds also recently made changes to their positions in the company. Woodline Partners LP purchased a new position in shares of CNX Resources during the fourth quarter valued at approximately $71,971,000. Arrowstreet Capital Limited Partnership purchased a new position in CNX Resources during the fourth quarter valued at $37,923,000. Millennium Management LLC raised its stake in CNX Resources by 69.1% during the fourth quarter. Millennium Management LLC now owns 1,154,588 shares of the oil and gas producer's stock valued at $42,339,000 after buying an additional 471,763 shares during the last quarter. Northern Trust Corp boosted its holdings in 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 worth $88,792,000 after acquiring an additional 411,485 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of CNX Resources in the fourth quarter worth $14,268,000. 95.16% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other CNX Resources news, Director J. Palmer Clarkson bought 10,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was purchased at an average cost of $31.20 per share, with a total value of $312,000.00. Following the completion of the acquisition, the director now owns 245,433 shares in the company, valued at $7,657,509.60. This trade represents a 4.25% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.59% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on CNX. JPMorgan Chase & Co. upped their price target on shares of CNX Resources from $32.00 to $33.00 and gave the stock an "underweight" rating in a research note on Thursday, March 13th. Mizuho raised their price target 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. Piper Sandler lifted their price objective on CNX Resources from $21.00 to $25.00 and gave the stock an "underweight" rating in a report on Tuesday, May 13th. Cowen restated a "hold" rating on shares of CNX Resources in a research note on Friday, April 25th. Finally, Bank of America reduced their price target on shares of CNX Resources from $32.00 to $27.00 and set an "underperform" rating for the company in a research note on Tuesday, April 1st. Eight equities 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. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $31.58.

CNX Resources Price Performance

Shares of NYSE CNX traded up $0.64 during midday trading on Tuesday, reaching $34.83. The stock had a trading volume of 1,786,423 shares, compared to its average volume of 2,606,263. The company has a market capitalization of $5.04 billion, a price-to-earnings ratio of -16.91, a price-to-earnings-growth ratio of 0.32 and a beta of 0.66. CNX Resources Corporation. has a 12-month low of $23.71 and a 12-month high of $41.93. The stock has a 50-day moving average of $31.60 and a 200-day moving average of $31.46. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.25 and a current ratio of 0.27.

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.