Arkadios Wealth Advisors Increases Stake in CNX Resources Corporation. (NYSE:CNX)

Key Points

• Arkadios Wealth Advisors increased its stake in CNX Resources Corporation by 96.5% during the first quarter, owning 24,733 shares now valued at $779,000 after acquiring an additional 12,148 shares.
• The company has a market capitalization of $4.09 billion and has seen fluctuations in its stock price, with a twelve month low of $23.85 and a high of $41.93.
• Eight analysts have rated the stock with a sell rating, eight with a hold rating, and one with a buy rating, indicating a consensus price target of $31.92.

Arkadios Wealth Advisors increased its position in CNX Resources Corporation. (NYSE:CNX - Free Report) by 96.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,733 shares of the oil and gas producer's stock after purchasing an additional 12,148 shares during the period. Arkadios Wealth Advisors' holdings in CNX Resources were worth $779,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Bayforest Capital Ltd increased its holdings in CNX Resources by 516.9% during the first quarter. Bayforest Capital Ltd now owns 23,899 shares of the oil and gas producer's stock valued at $752,000 after buying an additional 20,025 shares during the last quarter. XTX Topco Ltd grew its holdings in CNX Resources by 118.1% during the 1st quarter. XTX Topco Ltd now owns 67,512 shares of the oil and gas producer's stock valued at $2,125,000 after buying an additional 36,555 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of CNX Resources by 462.8% in the first quarter. Federated Hermes Inc. now owns 393,462 shares of the oil and gas producer's stock valued at $12,386,000 after purchasing an additional 323,553 shares in the last quarter. Avalon Capital Management lifted its stake in CNX Resources by 151.5% in the first quarter. Avalon Capital Management now owns 17,410 shares of the oil and gas producer's stock worth $548,000 after purchasing an additional 10,487 shares during the last quarter. Finally, Mackenzie Financial Corp purchased a new stake in shares of CNX Resources during the first quarter valued at $326,000. Institutional investors own 95.16% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CNX shares. TD Cowen upgraded CNX Resources to a "hold" rating in a report on Monday, July 7th. Mizuho upped their target price on CNX Resources from $35.00 to $36.00 and gave the company an "underperform" rating in a research report on Tuesday, May 13th. Cowen restated a "hold" rating on shares of CNX Resources in a research report on Friday, April 25th. Scotiabank reiterated a "sector perform" rating and issued a $35.00 target price (up previously from $33.00) on shares of CNX Resources in a research report on Friday, July 11th. Finally, Barclays started coverage on CNX Resources in a report on Monday, July 7th. They issued an "equal weight" rating and a $33.00 price objective on the stock. Eight research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $31.92.

CNX Resources Trading Up 0.5%

Shares of NYSE:CNX traded up $0.15 during midday trading on Tuesday, reaching $29.22. 2,002,656 shares of the company's stock were exchanged, compared to its average volume of 2,568,973. The firm's 50 day simple moving average is $32.44 and its two-hundred day simple moving average is $31.01. 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 stock has a market cap of $4.13 billion, a price-to-earnings ratio of 49.53, a P/E/G ratio of 0.29 and a beta of 0.64. CNX Resources Corporation. has a fifty-two week low of $23.99 and a fifty-two week high of $41.93.

Insider Activity

In other news, Director J. Palmer Clarkson bought 10,000 shares of the company's stock in a transaction on Monday, May 12th. The stock was bought at an average cost of $31.20 per share, with a total value of $312,000.00. Following the transaction, the director directly owned 245,433 shares in the company, valued at $7,657,509.60. The trade was a 4.25% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.59% of the company's stock.

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.