AlphaQuest LLC Has $272,000 Holdings in CNX Resources Corporation. $CNX

Key Points

• AlphaQuest LLC reduced its stake in CNX Resources Corporation by 53.9% in the first quarter, selling 10,079 shares and holding 8,631 shares valued at approximately $272,000.
• Other institutional investors increased their stakes significantly, with Quantbot Technologies LP boosting its position by 355.9% during the same period, now owning 336,611 shares worth about $10.6 million.
• Analysts have generally given a mixed outlook on CNX Resources, with one Buy rating, eight Hold ratings, and seven Sell ratings, resulting in an average target price of $31.77.

AlphaQuest LLC cut its stake in CNX Resources Corporation. (NYSE:CNX - Free Report) by 53.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,631 shares of the oil and gas producer's stock after selling 10,079 shares during the period. AlphaQuest LLC's holdings in CNX Resources were worth $272,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Quantbot Technologies LP boosted its stake in CNX Resources by 355.9% in the 1st quarter. Quantbot Technologies LP now owns 336,611 shares of the oil and gas producer's stock worth $10,597,000 after purchasing an additional 262,770 shares during the period. Algert Global LLC acquired a new position in CNX Resources in the 1st quarter worth $4,932,000. Corient IA LLC acquired a new position in CNX Resources in the 1st quarter worth $315,000. Fox Run Management L.L.C. boosted its stake in CNX Resources by 2.7% in the 1st quarter. Fox Run Management L.L.C. now owns 16,317 shares of the oil and gas producer's stock worth $514,000 after purchasing an additional 432 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in CNX Resources by 4.6% in the 1st quarter. Russell Investments Group Ltd. now owns 72,022 shares of the oil and gas producer's stock worth $2,268,000 after purchasing an additional 3,171 shares during the period. 95.16% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CNX has been the topic of several analyst reports. Scotiabank reissued a "sector perform" rating and set a $35.00 price target (up from $33.00) on shares of CNX Resources in a research report on Friday, July 11th. Mizuho boosted their price target on shares of CNX Resources from $35.00 to $36.00 and gave the stock an "underperform" rating in a research report on Tuesday, May 13th. Barclays initiated coverage on shares of CNX Resources in a research report on Monday, July 7th. They set an "equal weight" rating and a $33.00 price target on the stock. TD Cowen raised shares of CNX Resources to a "hold" rating in a research report on Monday, July 7th. Finally, Piper Sandler cut 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. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and seven have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and an average target price of $31.77.

CNX Resources Stock Performance

Shares of CNX stock traded down $0.06 on Friday, reaching $29.20. The stock had a trading volume of 1,221,711 shares, compared to its average volume of 1,558,788. The company has a quick ratio of 0.30, a current ratio of 0.33 and a debt-to-equity ratio of 0.56. The firm's 50-day moving average is $31.15 and its two-hundred day moving average is $31.02. The firm has a market capitalization of $4.13 billion, a price-to-earnings ratio of 49.48, a P/E/G ratio of 0.26 and a beta of 0.60. CNX Resources Corporation. has a 12 month low of $26.50 and a 12 month high of $41.93.

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.