Graham Capital Management L.P. Takes Position in CNX Resources Co. (NYSE:CNX)

Graham Capital Management L.P. purchased a new stake in shares of CNX Resources Co. (NYSE:CNX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 7,890 shares of the oil and gas producer's stock, valued at approximately $289,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bessemer Group Inc. raised its stake in shares of CNX Resources by 131.5% during the fourth quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer's stock valued at $34,000 after acquiring an additional 526 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of CNX Resources during the fourth quarter valued at approximately $39,000. VSM Wealth Advisory LLC bought a new stake in shares of CNX Resources during the fourth quarter valued at approximately $55,000. Principal Securities Inc. raised its stake in shares of CNX Resources by 38.5% during 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 in the last quarter. Finally, Blue Trust Inc. raised its stake in shares of CNX Resources by 65.1% during the fourth quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer's stock valued at $119,000 after acquiring an additional 1,280 shares in the last quarter. Institutional investors own 95.16% of the company's stock.

CNX Resources Stock Up 1.4%

NYSE CNX traded up $0.44 on Friday, hitting $31.65. The stock had a trading volume of 1,297,529 shares, compared to its average volume of 2,658,824. The business's fifty day moving average price is $30.85 and its 200 day moving average price is $32.55. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32. CNX Resources Co. has a 52-week low of $23.63 and a 52-week high of $41.93. The stock has a market cap of $4.58 billion, a price-to-earnings ratio of -46.54, a price-to-earnings-growth ratio of 0.42 and a beta of 0.62.

Insiders Place Their Bets

In other news, Director J. Palmer Clarkson purchased 10,000 shares of the business's stock in a transaction on Monday, May 12th. The shares were acquired at an average cost of $31.20 per share, with a total value of $312,000.00. Following the completion of the acquisition, the director now owns 245,433 shares of the company's stock, valued at $7,657,509.60. This trade represents a 4.25% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.10% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CNX. Wall Street Zen downgraded shares of CNX Resources from a "hold" rating to a "sell" rating in a research note on Thursday, February 13th. Roth Capital set a $30.00 price objective on shares of CNX Resources in a report on Thursday, January 23rd. 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. Cowen reissued a "hold" rating on shares of CNX Resources in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of CNX Resources from $32.00 to $33.00 and gave the company an "underweight" rating in a report on Thursday, March 13th. Eight analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus 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.