CNX Resources Corporation. $CNX Shares Purchased by Bayforest Capital Ltd

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 lifted its stake in shares of CNX Resources Corporation. (NYSE:CNX - Free Report) by 516.9% in the first quarter, according to the company in its most recent disclosure with the 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 made changes to their positions in CNX. Harbor Capital Advisors Inc. acquired a new position in shares of CNX Resources during the first quarter worth about $61,000. Sound Income Strategies LLC acquired a new position in shares of CNX Resources during the first quarter worth about $63,000. UMB Bank n.a. grew 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 worth $65,000 after buying an additional 771 shares in the last quarter. Ameriflex Group Inc. acquired a new position in shares of CNX Resources during the fourth quarter worth about $88,000. Finally, Farther Finance Advisors LLC grew its position in shares of CNX Resources by 21.0% during the first quarter. Farther Finance Advisors LLC now owns 2,931 shares of the oil and gas producer's stock worth $93,000 after buying an additional 508 shares in the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CNX. Piper Sandler lowered their price objective 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. TD Cowen raised CNX Resources to a "hold" rating in a research report on Monday, July 7th. Scotiabank reaffirmed a "sector perform" rating and issued a $35.00 target price (up from $33.00) on shares of CNX Resources in a research report on Friday, July 11th. Finally, Barclays initiated coverage on shares of CNX Resources in a research report on Monday, July 7th. They issued an "equal weight" rating and a $33.00 target price on the stock. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and seven have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Reduce" and an average target price of $31.77.

CNX Resources Stock Performance

CNX Resources stock traded up $0.61 during mid-day trading on Thursday, reaching $29.89. 1,481,429 shares of the company were exchanged, compared to its average volume of 1,390,922. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.30 and a current ratio of 0.33. The firm's 50-day simple moving average is $30.44 and its two-hundred day simple moving average is $30.96. CNX Resources Corporation. has a twelve month low of $26.85 and a twelve month high of $41.93. The firm has a market cap of $4.23 billion, a PE ratio of 50.66, a price-to-earnings-growth ratio of 0.26 and a beta of 0.60.

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.