CNX Resources Corporation. (NYSE:CNX) Shares Bought by XTX Topco Ltd

Key Points

• XTX Topco Ltd increased its stake in CNX Resources by 118.1% in the first quarter, now holding 67,512 shares valued at approximately $2.13 million.
• Several institutional investors, including the State of Alaska Department of Revenue and Pullen Investment Management LLC, also increased their holdings in the company during the same period, showcasing a trend among hedge funds.
• Analysts have mixed ratings on CNX Resources, with an average rating of "Hold" and a consensus price target of $31.85, reflecting cautious optimism in the market.

XTX Topco Ltd raised its holdings in shares of CNX Resources Corporation. (NYSE:CNX - Free Report) by 118.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 67,512 shares of the oil and gas producer's stock after purchasing an additional 36,555 shares during the period. XTX Topco Ltd's holdings in CNX Resources were worth $2,125,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Pictet Asset Management Holding SA boosted its holdings in shares of CNX Resources by 9.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 20,786 shares of the oil and gas producer's stock valued at $762,000 after buying an additional 1,873 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of CNX Resources in the 4th quarter valued at about $37,923,000. Alliancebernstein L.P. boosted its holdings in shares of CNX Resources by 1.6% in the 4th quarter. Alliancebernstein L.P. now owns 304,517 shares of the oil and gas producer's stock valued at $11,167,000 after buying an additional 4,859 shares in the last quarter. ExodusPoint Capital Management LP bought a new stake in shares of CNX Resources in the 4th quarter valued at about $8,072,000. Finally, Resona Asset Management Co. Ltd. bought a new stake in shares of CNX Resources in the 4th quarter valued at about $489,000. Hedge funds and other institutional investors own 95.16% of the company's stock.

Insider Buying and Selling

In related news, Director J. Palmer Clarkson purchased 10,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was bought at an average price of $31.20 per share, with a total value of $312,000.00. Following the acquisition, the director owned 245,433 shares in the company, valued at $7,657,509.60. The trade was a 4.25% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.10% of the company's stock.

CNX Resources Price Performance

NYSE CNX traded down $1.39 on Friday, hitting $28.92. The company had a trading volume of 3,141,801 shares, compared to its average volume of 2,379,965. The company has a market capitalization of $4.09 billion, a PE ratio of 49.02, a PEG ratio of 0.28 and a beta of 0.64. The company's fifty day moving average price is $32.55 and its 200-day moving average price is $31.03. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.33 and a quick ratio of 0.30. CNX Resources Corporation. has a 12-month low of $23.85 and a 12-month high of $41.93.

Analyst Ratings Changes

A number of research firms recently commented on CNX. Barclays began coverage on shares of CNX Resources in a research note on Monday, July 7th. They issued an "equal weight" rating and a $33.00 target price for the company. Morgan Stanley reiterated an "underweight" rating and issued a $31.00 target price on shares of CNX Resources in a research note on Tuesday, April 15th. Mizuho raised 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. Piper Sandler raised their price target on shares of CNX Resources from $25.00 to $26.00 and gave the stock an "underweight" rating in a research report on Friday. Finally, Cowen reissued a "hold" rating on shares of CNX Resources in a research report on Friday, April 25th. Eight analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $31.92.

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.