GAMMA Investing LLC Has $3.37 Million Position in CNX Resources Co. (NYSE:CNX)

GAMMA Investing LLC increased its position in shares of CNX Resources Co. (NYSE:CNX - Free Report) by 3,220.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 106,119 shares of the oil and gas producer's stock after buying an additional 102,923 shares during the period. GAMMA Investing LLC owned 0.07% of CNX Resources worth $3,371,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Savant Capital LLC bought a new stake in CNX Resources during the fourth quarter valued at about $261,000. Autumn Glory Partners LLC acquired a new stake in CNX Resources in the 4th quarter valued at approximately $220,000. Rhumbline Advisers increased its position in CNX Resources by 1.3% in the 4th quarter. Rhumbline Advisers now owns 494,625 shares of the oil and gas producer's stock worth $18,138,000 after buying an additional 6,404 shares during the period. Congress Asset Management Co. lifted its holdings in shares of CNX Resources by 7.2% during the fourth quarter. Congress Asset Management Co. now owns 266,447 shares of the oil and gas producer's stock worth $9,771,000 after buying an additional 17,951 shares during the last quarter. Finally, Principal Securities Inc. boosted its position in shares of CNX Resources by 38.5% in the fourth quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer's stock valued at $91,000 after acquiring an additional 691 shares during the period. 95.16% of the stock is currently owned by institutional investors and hedge funds.

CNX Resources Price Performance

NYSE:CNX traded up $0.02 on Thursday, reaching $32.06. The stock had a trading volume of 1,832,164 shares, compared to its average volume of 2,642,737. The company has a market capitalization of $4.64 billion, a P/E ratio of -47.15, a price-to-earnings-growth ratio of 0.42 and a beta of 0.66. CNX Resources Co. has a 1-year low of $23.63 and a 1-year high of $41.93. The stock has a fifty day moving average price of $30.90 and a 200-day moving average price of $31.90. The company has a quick ratio of 0.32, a current ratio of 0.33 and a debt-to-equity ratio of 0.45.

Insider Transactions at CNX Resources

In other news, Director J. Palmer Clarkson purchased 10,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were acquired at an average cost of $31.20 per share, for a total transaction of $312,000.00. Following the transaction, the director now directly owns 245,433 shares of the company's stock, valued at approximately $7,657,509.60. The trade was a 4.25% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 4.59% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CNX has been the topic of a number of recent research reports. Cowen reissued a "hold" rating on shares of CNX Resources in a research report on Friday, April 25th. Morgan Stanley reissued an "underweight" rating and set a $31.00 price objective on shares of CNX Resources in a report on Tuesday, April 15th. Bank of America cut their target price on CNX Resources from $32.00 to $27.00 and set an "underperform" rating for the company in a research note on Tuesday, April 1st. Stephens upgraded shares of CNX Resources from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $35.00 to $48.00 in a research note on Tuesday, March 18th. Finally, Scotiabank raised shares of CNX Resources from a "sector underperform" rating to a "sector perform" rating and set a $33.00 price target on the stock in a report on Friday, April 11th. Eight research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $31.58.

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.