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

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Sciencast Management LP increased its stake in shares of CNX Resources by 815.8% during the first quarter. Sciencast Management LP now owns 63,138 shares of the oil and gas producer's stock worth $1,988,000 after purchasing an additional 56,244 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its stake in shares of CNX Resources by 191.9% during the first quarter. Dynamic Technology Lab Private Ltd now owns 39,271 shares of the oil and gas producer's stock worth $1,236,000 after purchasing an additional 25,817 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of CNX Resources by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 86,878 shares of the oil and gas producer's stock worth $2,735,000 after purchasing an additional 3,785 shares in the last quarter. Corigliano Investment Advisers LLC purchased a new stake in shares of CNX Resources during the first quarter worth about $16,151,000. Finally, AQR Capital Management LLC increased its stake in shares of CNX Resources by 764.2% during the first quarter. AQR Capital Management LLC now owns 474,716 shares of the oil and gas producer's stock worth $14,944,000 after purchasing an additional 419,784 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company's stock.

CNX Resources Stock Performance

NYSE:CNX opened at $29.12 on Wednesday. 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 $4.12 billion, a price-to-earnings ratio of 49.36, a PEG ratio of 0.26 and a beta of 0.60. The company's 50-day moving average is $30.54 and its two-hundred day moving average is $30.97. CNX Resources Corporation. has a 1-year low of $26.50 and a 1-year high of $41.93.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CNX shares. TD Cowen raised shares of CNX Resources to a "hold" rating in a research note on Monday, July 7th. Mizuho upped their price objective on shares of CNX Resources from $35.00 to $36.00 and gave the company an "underperform" rating in a research note on Tuesday, May 13th. Scotiabank reaffirmed a "sector perform" rating and set a $35.00 price objective (up previously from $33.00) on shares of CNX Resources in a research note on Friday, July 11th. Piper Sandler dropped their price objective on shares of CNX Resources from $26.00 to $24.00 and set an "underweight" rating for the company in a research note on Thursday, August 14th. Finally, Barclays started coverage on shares of CNX Resources in a research note 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, eight have issued a Hold rating and seven have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average price target of $31.77.

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.

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