GAMMA Investing LLC increased its position in shares of CNX Resources Co. (NYSE:CNX - Free Report) by 3,220.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 106,119 shares of the oil and gas producer's stock after acquiring an additional 102,923 shares during the quarter. GAMMA Investing LLC owned 0.07% of CNX Resources worth $3,371,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in 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 valued at $88,792,000 after acquiring an additional 411,485 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of CNX Resources by 7.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,000,464 shares of the oil and gas producer's stock valued at $73,357,000 after acquiring an additional 139,647 shares in the last quarter. Woodline Partners LP purchased a new stake in shares of CNX Resources in the 4th quarter valued at approximately $71,971,000. Capital Research Global Investors lifted its position in shares of CNX Resources by 31.8% in 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. Finally, Nuveen Asset Management LLC lifted its position in shares of CNX Resources by 30.9% in the 4th quarter. Nuveen Asset Management LLC now owns 1,365,407 shares of the oil and gas producer's stock valued at $50,069,000 after acquiring an additional 322,203 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company's stock.
Analyst Ratings Changes
Several equities research analysts recently commented on the stock. Bank of America reduced their price target on shares of CNX Resources from $32.00 to $27.00 and set an "underperform" rating for the company in a research report on Tuesday, April 1st. Morgan Stanley reiterated an "underweight" rating and issued a $31.00 price objective on shares of CNX Resources in a research note on Tuesday, April 15th. Piper Sandler upped their price objective on shares of CNX Resources from $21.00 to $25.00 and gave the company an "underweight" rating in a research note on Tuesday, May 13th. Stephens upgraded shares of CNX Resources from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $35.00 to $48.00 in a research note on Tuesday, March 18th. Finally, Raymond James upgraded CNX Resources from an "underperform" rating to a "market perform" rating in a research note on Tuesday, February 18th. Eight investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $31.58.
Check Out Our Latest Research Report on CNX Resources
Insider Activity at CNX Resources
In related news, Director J. Palmer Clarkson purchased 10,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was acquired 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 now directly owns 245,433 shares in the company, valued at $7,657,509.60. This trade 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 available through the SEC website. 4.59% of the stock is owned by insiders.
CNX Resources Stock Performance
CNX stock traded up $0.55 during midday trading on Friday, reaching $32.63. 1,911,951 shares of the company were exchanged, compared to its average volume of 2,642,760. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32. The business has a 50-day moving average price of $31.06 and a two-hundred day moving average price of $31.73. CNX Resources Co. has a one year low of $23.63 and a one year high of $41.93. The firm has a market capitalization of $4.72 billion, a price-to-earnings ratio of -47.98, a price-to-earnings-growth ratio of 0.42 and a beta of 0.66.
CNX Resources Profile
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Free Report)
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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