GF Fund Management CO. LTD. Acquires New Position in CNX Resources Co. (NYSE:CNX)

GF Fund Management CO. LTD. purchased a new stake in CNX Resources Co. (NYSE:CNX - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 45,922 shares of the oil and gas producer's stock, valued at approximately $1,684,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Congress Asset Management Co. boosted its holdings in shares of CNX Resources by 7.2% in the 4th quarter. Congress Asset Management Co. now owns 266,447 shares of the oil and gas producer's stock valued at $9,771,000 after buying an additional 17,951 shares during the period. Convergence Investment Partners LLC acquired a new position in CNX Resources during the 4th quarter valued at about $1,556,000. Charles Schwab Investment Management Inc. boosted its stake in CNX Resources by 7.5% during 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 purchasing an additional 139,647 shares during the period. Wakefield Asset Management LLLP acquired a new position in CNX Resources during the 4th quarter valued at about $1,047,000. Finally, Assetmark Inc. boosted its stake in CNX Resources by 2.2% during the 4th quarter. Assetmark Inc. now owns 885,429 shares of the oil and gas producer's stock valued at $32,469,000 after purchasing an additional 19,309 shares during the period. 95.16% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director J. Palmer Clarkson purchased 10,000 shares of the business's stock in a transaction dated Monday, May 12th. The shares were acquired at an average price of $31.20 per share, for a total transaction of $312,000.00. Following the completion of the acquisition, the director now directly owns 245,433 shares of the company's stock, valued at $7,657,509.60. The trade was a 4.25% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.10% of the company's stock.

CNX Resources Price Performance

Shares of NYSE CNX traded down $0.14 during midday trading on Thursday, reaching $31.33. The company's stock had a trading volume of 1,050,071 shares, compared to its average volume of 2,650,574. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 0.45. The company has a 50 day moving average price of $30.83 and a 200 day moving average price of $32.42. CNX Resources Co. has a one year low of $23.63 and a one year high of $41.93. The company has a market cap of $4.53 billion, a price-to-earnings ratio of -46.07, a price-to-earnings-growth ratio of 0.42 and a beta of 0.62.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Stephens raised shares of CNX Resources from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $35.00 to $48.00 in a research note on Tuesday, March 18th. Morgan Stanley reissued an "underweight" rating and set a $31.00 target price on shares of CNX Resources in a research note on Tuesday, April 15th. Wall Street Zen lowered shares of CNX Resources from a "hold" rating to a "sell" rating in a research note on Thursday, February 13th. Raymond James raised shares of CNX Resources from an "underperform" rating to a "market perform" rating in a research note on Tuesday, February 18th. Finally, JPMorgan Chase & Co. boosted their target price on shares of CNX Resources from $32.00 to $33.00 and gave the company an "underweight" rating in a research note on Thursday, March 13th. Eight research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $31.58.

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.