Caxton Associates LLP Invests $1.62 Million in CNX Resources Corporation. $CNX

Key Points

• Caxton Associates LLP has invested $1.62 million in CNX Resources Corporation, acquiring 51,486 shares of the company during the first quarter.
• Several institutional investors, including Sciencast Management LP and AQR Capital Management LLC, have significantly increased their stakes in CNX Resources, indicating strong institutional interest.
• CNX Resources currently has a market capitalization of $4.12 billion and a consensus rating of "Reduce" from analysts, with an average price target of $31.77.

Caxton Associates LLP acquired a new position in shares of CNX Resources Corporation. (NYSE:CNX - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 51,486 shares of the oil and gas producer's stock, valued at approximately $1,621,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CNX. Harbor Capital Advisors Inc. acquired a new position in CNX Resources in the 1st quarter valued at about $61,000. Sound Income Strategies LLC acquired a new position in CNX Resources in the 1st quarter valued at about $63,000. UMB Bank n.a. grew its position in CNX Resources by 59.7% in the 1st quarter. UMB Bank n.a. now owns 2,062 shares of the oil and gas producer's stock valued at $65,000 after acquiring an additional 771 shares in the last quarter. Ameriflex Group Inc. acquired a new position in CNX Resources in the 4th quarter valued at about $88,000. Finally, Farther Finance Advisors LLC grew its position 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 acquiring an additional 508 shares in the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

CNX Resources Stock Performance

Shares of CNX Resources stock traded up $0.16 during trading hours on Monday, hitting $30.19. 380,770 shares of the company were exchanged, compared to its average volume of 2,520,952. CNX Resources Corporation. has a 1 year low of $27.00 and a 1 year high of $41.93. The company has a current ratio of 0.33, a quick ratio of 0.30 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average of $30.40 and a 200-day moving average of $30.98. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of 51.11, a P/E/G ratio of 0.27 and a beta of 0.60.

Analyst Ratings Changes

CNX has been the subject of several research reports. Piper Sandler dropped their target price on CNX Resources from $26.00 to $24.00 and set an "underweight" rating for the company in a research report on Thursday, August 14th. Mizuho raised CNX Resources from an "underperform" rating to a "neutral" rating and dropped their target price for the company from $36.00 to $34.00 in a research report on Monday. TD Cowen raised CNX Resources to a "hold" rating in a research report on Monday, July 7th. Siebert Williams Shank assumed coverage on CNX Resources in a research report on Monday. They set a "hold" rating and a $32.00 price objective for the company. Finally, Barclays assumed coverage on CNX Resources in a research report on Monday, July 7th. They set an "equal weight" rating and a $33.00 price objective for the company. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and six have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average price target of $31.64.

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.