Bayforest Capital Ltd Has $752,000 Holdings in CNX Resources Corporation. $CNX

Key Points

• Bayforest Capital Ltd increased its stake in CNX Resources Corporation by 516.9% in Q1, now owning 23,899 shares valued at approximately $752,000.
• Institutional investors and hedge funds own 95.16% of CNX Resources, with several firms purchasing new positions or significantly increasing their stakes recently.
• CNX Resources stock has seen recent price target adjustments, with analysts giving an average target price of $31.77 and mixed ratings, ranging from "Buy" to "Sell."

Bayforest Capital Ltd grew its holdings in shares of CNX Resources Corporation. (NYSE:CNX - Free Report) by 516.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,899 shares of the oil and gas producer's stock after buying an additional 20,025 shares during the quarter. Bayforest Capital Ltd's holdings in CNX Resources were worth $752,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Harbor Capital Advisors Inc. bought a new stake in CNX Resources in the 1st quarter valued at about $61,000. Sound Income Strategies LLC bought a new position in shares of CNX Resources in the first quarter valued at $63,000. UMB Bank n.a. lifted its position in shares of CNX Resources by 59.7% during the first quarter. UMB Bank n.a. now owns 2,062 shares of the oil and gas producer's stock valued at $65,000 after purchasing an additional 771 shares in the last quarter. Ameriflex Group Inc. bought a new stake in CNX Resources in the fourth quarter worth about $88,000. Finally, Farther Finance Advisors LLC lifted its stake in shares of CNX Resources by 21.0% during 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 buying an additional 508 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on CNX shares. TD Cowen upgraded shares of CNX Resources to a "hold" rating in a report on Monday, July 7th. Piper Sandler reduced their price target on shares of CNX Resources from $26.00 to $24.00 and set an "underweight" rating on the stock in a research report on Thursday, August 14th. Barclays assumed coverage on shares of CNX Resources in a research note on Monday, July 7th. They set an "equal weight" rating and a $33.00 target price for the company. Finally, Scotiabank reaffirmed a "sector perform" rating and issued a $35.00 price objective (up previously from $33.00) on shares of CNX Resources in a research report on Friday, July 11th. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and seven have issued a Sell rating to the stock. Based on data from MarketBeat, CNX Resources presently has an average rating of "Reduce" and an average price target of $31.77.

CNX Resources Stock Performance

Shares of CNX Resources stock traded up $0.07 during trading hours on Friday, hitting $29.99. 1,303,247 shares of the company were exchanged, compared to its average volume of 1,406,057. 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 stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of 50.83, a P/E/G ratio of 0.27 and a beta of 0.60. CNX Resources Corporation. has a 1 year low of $27.00 and a 1 year high of $41.93. The business has a 50-day moving average of $30.40 and a 200-day moving average of $30.97.

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.