CNX Resources Corporation. $CNX Stock Holdings Reduced by Twin Tree Management LP

Key Points

• Twin Tree Management LP significantly reduced its stake in CNX Resources Corporation by 94.1% in Q1, leaving them with 5,100 shares worth $161,000.
• Various institutional investors have increased their holdings in CNX Resources, with Hedge funds owning 95.16% of the company's stock as of the latest quarter.
• Analyst ratings for CNX Resources reflect uncertainty, with one analyst rating it as a Buy, eight as Hold, and seven as Sell, resulting in an average target price of $31.77.

Twin Tree Management LP lowered its position in CNX Resources Corporation. (NYSE:CNX - Free Report) by 94.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,100 shares of the oil and gas producer's stock after selling 80,864 shares during the quarter. Twin Tree Management LP's holdings in CNX Resources were worth $161,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new position in CNX Resources in the first quarter valued at about $718,000. Principal Financial Group Inc. grew its stake in CNX Resources by 1.6% in the first quarter. Principal Financial Group Inc. now owns 472,300 shares of the oil and gas producer's stock valued at $14,868,000 after purchasing an additional 7,440 shares in the last quarter. Bridges Investment Management Inc. grew its stake in CNX Resources by 111.3% in the first quarter. Bridges Investment Management Inc. now owns 44,673 shares of the oil and gas producer's stock valued at $1,406,000 after purchasing an additional 23,531 shares in the last quarter. HighTower Advisors LLC grew its stake in CNX Resources by 59.7% in the first quarter. HighTower Advisors LLC now owns 46,592 shares of the oil and gas producer's stock valued at $1,467,000 after purchasing an additional 17,424 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in CNX Resources by 21.0% in the first quarter. Farther Finance Advisors LLC now owns 2,931 shares of the oil and gas producer's stock valued at $93,000 after purchasing an additional 508 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company's stock.

Wall Street Analyst Weigh In

CNX has been the subject of several recent analyst reports. Scotiabank reiterated a "sector perform" rating and set a $35.00 price target (up previously from $33.00) on shares of CNX Resources in a research note on Friday, July 11th. Mizuho upped their price target on CNX Resources from $35.00 to $36.00 and gave the stock an "underperform" rating in a research note on Tuesday, May 13th. TD Cowen upgraded CNX Resources to a "hold" rating in a research note on Monday, July 7th. Barclays initiated coverage on CNX Resources in a research note on Monday, July 7th. They set an "equal weight" rating and a $33.00 price target for the company. Finally, Piper Sandler decreased their price target on CNX Resources from $26.00 to $24.00 and set an "underweight" rating for the company in a research note on Thursday, August 14th. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and seven have given a Sell rating to the stock. According to MarketBeat, CNX Resources has an average rating of "Reduce" and an average target price of $31.77.

CNX Resources Price Performance

Shares of NYSE:CNX opened at $29.20 on Tuesday. The business has a 50 day moving average price of $31.05 and a 200 day moving average price of $31.01. CNX Resources Corporation. has a twelve month low of $26.50 and a twelve month high of $41.93. The company has a market cap of $4.13 billion, a price-to-earnings ratio of 49.48, a PEG ratio of 0.26 and a beta of 0.60. The company has a quick ratio of 0.30, a current ratio of 0.33 and a debt-to-equity ratio of 0.56.

CNX Resources 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.

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