Edgestream Partners L.P. Sells 52,623 Shares of CNX Resources Corporation. (NYSE:CNX)

Edgestream Partners L.P. trimmed its position in shares of CNX Resources Corporation. (NYSE:CNX - Free Report) by 45.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,003 shares of the oil and gas producer's stock after selling 52,623 shares during the period. Edgestream Partners L.P.'s holdings in CNX Resources were worth $1,952,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Northern Trust Corp lifted its position in shares of CNX Resources by 20.5% in the 4th quarter. Northern Trust Corp now owns 2,421,387 shares of the oil and gas producer's stock worth $88,792,000 after purchasing an additional 411,485 shares during the period. Woodline Partners LP purchased a new stake in CNX Resources in the fourth quarter worth about $71,971,000. Capital Research Global Investors boosted its position in CNX Resources by 31.8% during the 4th quarter. Capital Research Global Investors now owns 1,450,000 shares of the oil and gas producer's stock valued at $53,172,000 after acquiring an additional 350,000 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in shares of CNX Resources by 30.9% during the 4th 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 during the period. Finally, Millennium Management LLC raised its position in shares of CNX Resources by 69.1% in the 4th quarter. Millennium Management LLC now owns 1,154,588 shares of the oil and gas producer's stock worth $42,339,000 after acquiring an additional 471,763 shares in the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CNX. Scotiabank reiterated a "sector perform" rating and issued a $35.00 price target (up from $33.00) on shares of CNX Resources in a research note on Friday, July 11th. Morgan Stanley reaffirmed an "underweight" rating and set a $31.00 target price on shares of CNX Resources in a research note on Tuesday, April 15th. Piper Sandler lifted their target price on shares of CNX Resources from $21.00 to $25.00 and gave the company an "underweight" rating in a report on Tuesday, May 13th. 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. Finally, TD Cowen upgraded CNX Resources to a "hold" rating in a research note on Monday, July 7th. Eight research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $31.85.

Insider Transactions at CNX Resources

In related news, Director J. Palmer Clarkson acquired 10,000 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were purchased at an average price of $31.20 per share, with a total value of $312,000.00. Following the completion of the purchase, the director directly owned 245,433 shares of the company's stock, valued at $7,657,509.60. This represents a 4.25% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.10% of the company's stock.

CNX Resources Stock Performance

Shares of CNX Resources stock traded up $0.16 during trading hours on Friday, reaching $34.24. 1,862,609 shares of the stock traded hands, compared to its average volume of 2,592,570. CNX Resources Corporation. has a one year low of $23.85 and a one year high of $41.93. The firm has a market capitalization of $4.96 billion, a price-to-earnings ratio of -16.62, a P/E/G ratio of 0.34 and a beta of 0.66. The company has a quick ratio of 0.25, a current ratio of 0.27 and a debt-to-equity ratio of 0.63. The company has a 50 day moving average price of $32.74 and a 200 day moving average price of $31.00.

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.