Connor Clark & Lunn Investment Management Ltd. Cuts Stock Holdings in CNX Resources Corporation. (NYSE:CNX)

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its stake in CNX Resources by 34.3%, now owning 409,229 shares worth approximately $12.88 million.
• A significant majority of CNX Resources' shares, approximately 95.16%, are owned by institutional investors, with various firms adjusting their holdings during the first quarter.
• Analysts maintain a consensus rating of "Hold" for CNX Resources, with a current target price of $31.92 amidst mixed ratings from various firms.

Connor Clark & Lunn Investment Management Ltd. lessened its stake in CNX Resources Corporation. (NYSE:CNX - Free Report) by 34.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 409,229 shares of the oil and gas producer's stock after selling 213,274 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.28% of CNX Resources worth $12,883,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in CNX Resources by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 15,952,281 shares of the oil and gas producer's stock valued at $502,178,000 after buying an additional 665,289 shares in the last quarter. Northern Trust Corp grew its position in CNX Resources by 20.5% in the fourth quarter. Northern Trust Corp now owns 2,421,387 shares of the oil and gas producer's stock worth $88,792,000 after acquiring an additional 411,485 shares in the last quarter. Woodline Partners LP purchased a new position in CNX Resources in the fourth quarter worth $71,971,000. Capital Research Global Investors grew its position in CNX Resources by 31.8% in the fourth quarter. Capital Research Global Investors now owns 1,450,000 shares of the oil and gas producer's stock worth $53,172,000 after acquiring an additional 350,000 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its position in CNX Resources by 30.9% in the fourth quarter. Nuveen Asset Management LLC now owns 1,365,407 shares of the oil and gas producer's stock worth $50,069,000 after acquiring an additional 322,203 shares in the last quarter. Institutional investors own 95.16% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on CNX. TD Cowen upgraded shares of CNX Resources to a "hold" rating in a research report on Monday, July 7th. Mizuho upped their price target on shares of CNX Resources from $35.00 to $36.00 and gave the company an "underperform" rating in a research report on Tuesday, May 13th. Barclays assumed 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 for the company. Cowen restated a "hold" rating on shares of CNX Resources in a research report on Friday, April 25th. Finally, Scotiabank reaffirmed a "sector perform" rating and set a $35.00 price objective (up from $33.00) on shares of CNX Resources in a research note on Friday, July 11th. Eight analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, CNX Resources presently has a consensus rating of "Hold" and a consensus target price of $31.77.

CNX Resources Stock Down 1.2%

Shares of NYSE CNX traded down $0.36 on Thursday, reaching $28.71. 1,178,730 shares of the company's stock traded hands, compared to its average volume of 2,669,855. CNX Resources Corporation. has a 12 month low of $25.88 and a 12 month high of $41.93. The business's 50 day simple moving average is $32.11 and its two-hundred day simple moving average is $30.99. The company has a market cap of $4.06 billion, a price-to-earnings ratio of 48.65, a price-to-earnings-growth ratio of 0.25 and a beta of 0.64. 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 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.