Allianz Asset Management GmbH reduced its position in CNX Resources Corporation. (NYSE:CNX - Free Report) by 19.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 616,327 shares of the oil and gas producer's stock after selling 152,870 shares during the period. Allianz Asset Management GmbH owned about 0.43% of CNX Resources worth $19,402,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the company. State of Alaska Department of Revenue increased its stake in CNX Resources by 2.4% in the 1st quarter. State of Alaska Department of Revenue now owns 17,437 shares of the oil and gas producer's stock valued at $548,000 after purchasing an additional 415 shares in the last quarter. Pullen Investment Management LLC increased its stake in CNX Resources by 1.5% in the 1st quarter. Pullen Investment Management LLC now owns 32,633 shares of the oil and gas producer's stock valued at $1,027,000 after purchasing an additional 482 shares in the last quarter. Farther Finance Advisors LLC increased its stake in CNX Resources by 21.0% in the 1st quarter. Farther Finance Advisors LLC now owns 2,931 shares of the oil and gas producer's stock valued at $93,000 after purchasing an additional 508 shares in the last quarter. SummerHaven Investment Management LLC increased its stake in CNX Resources by 1.8% in the 1st quarter. SummerHaven Investment Management LLC now owns 30,284 shares of the oil and gas producer's stock valued at $953,000 after purchasing an additional 525 shares in the last quarter. Finally, Bessemer Group Inc. increased its position in CNX Resources by 131.5% during the fourth quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer's stock worth $34,000 after buying an additional 526 shares in the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities analysts have weighed in on CNX shares. Cowen reissued a "hold" rating on shares of CNX Resources in a research report on Friday, April 25th. Bank of America dropped their price target on CNX Resources from $32.00 to $27.00 and set an "underperform" rating for the company in a research report on Tuesday, April 1st. TD Cowen raised CNX Resources to a "hold" rating in a research report on Monday, July 7th. Scotiabank reissued a "sector perform" rating and set a $35.00 price target (up previously from $33.00) on shares of CNX Resources in a research report on Friday, July 11th. Finally, Morgan Stanley reissued an "underweight" rating and set a $31.00 price target on shares of CNX Resources in a research report on Tuesday, April 15th. Eight research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, CNX Resources currently has a consensus rating of "Hold" and a consensus target price of $31.85.
View Our Latest Stock Report on CNX Resources
Insider Transactions at CNX Resources
In other news, Director J. Palmer Clarkson purchased 10,000 shares of the stock in a transaction on Monday, May 12th. The stock was purchased at an average price of $31.20 per share, with a total value of $312,000.00. Following the completion of the transaction, the director owned 245,433 shares in the company, valued at approximately $7,657,509.60. The trade was a 4.25% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.59% of the company's stock.
CNX Resources Trading Down 2.3%
CNX stock traded down $0.73 during trading on Monday, reaching $30.36. 741,680 shares of the stock traded hands, compared to its average volume of 2,710,561. The business's 50 day moving average price is $32.74 and its 200-day moving average price is $31.04. CNX Resources Corporation. has a 52-week low of $23.85 and a 52-week high of $41.93. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.33 and a quick ratio of 0.30. The firm has a market capitalization of $4.39 billion, a PE ratio of 51.48, a P/E/G ratio of 0.31 and a beta of 0.66.
About CNX Resources
(
Free Report)
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.
Read More
Before you consider CNX Resources, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CNX Resources wasn't on the list.
While CNX Resources currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
