Great Lakes Advisors LLC Sells 15,863 Shares of CNX Resources Corporation. $CNX

Key Points

• Great Lakes Advisors LLC reduced its position in CNX Resources by 3.8%, holding 405,445 shares worth $12.76 million after selling 15,863 shares in the first quarter.
• Various large investors, including Caxton Associates and Sciencast Management, have recently changed their positions in CNX Resources, indicating a high degree of institutional interest, with 95.16% of the stock currently owned by hedge funds and institutional investors.
• Wall Street analysts have mixed ratings for CNX Resources, with an average price target of $31.77, including one Buy, eight Hold, and seven Sell ratings.

Great Lakes Advisors LLC lessened its stake in CNX Resources Corporation. (NYSE:CNX - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 405,445 shares of the oil and gas producer's stock after selling 15,863 shares during the period. Great Lakes Advisors LLC owned about 0.28% of CNX Resources worth $12,763,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Woodline Partners LP purchased a new stake in shares of CNX Resources during the 4th quarter valued at approximately $71,971,000. Nuveen LLC purchased a new position in CNX Resources in the first quarter valued at approximately $35,567,000. Adage Capital Partners GP L.L.C. lifted its stake in CNX Resources by 514.0% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,200,000 shares of the oil and gas producer's stock valued at $37,776,000 after buying an additional 1,004,545 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of CNX Resources by 4.4% in the first quarter. Vanguard Group Inc. now owns 15,952,281 shares of the oil and gas producer's stock valued at $502,178,000 after purchasing an additional 665,289 shares during the period. Finally, Corigliano Investment Advisers LLC acquired a new stake in shares of CNX Resources in the 1st quarter valued at approximately $16,151,000. Hedge funds and other institutional investors own 95.16% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on CNX. Scotiabank restated a "sector perform" rating and set a $35.00 price objective (up from $33.00) on shares of CNX Resources in a research report on Friday, July 11th. Barclays assumed coverage on CNX Resources in a report on Monday, July 7th. They issued an "equal weight" rating and a $33.00 price target for the company. TD Cowen upgraded CNX Resources to a "hold" rating in a research note on Monday, July 7th. Finally, Piper Sandler lowered their target price on CNX Resources from $26.00 to $24.00 and set an "underweight" rating for the company in a research note on Thursday, August 14th. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and seven have given a Sell rating to the company's stock. According to data from MarketBeat.com, CNX Resources presently has a consensus rating of "Reduce" and a consensus price target of $31.77.

CNX Resources Price Performance

Shares of NYSE:CNX traded up $0.61 on Thursday, reaching $29.89. 1,481,429 shares of the company traded hands, compared to its average volume of 1,390,922. CNX Resources Corporation. has a fifty-two week low of $26.85 and a fifty-two week high of $41.93. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.33 and a quick ratio of 0.30. The stock has a market capitalization of $4.23 billion, a PE ratio of 50.66, a P/E/G ratio of 0.26 and a beta of 0.60. The company's 50 day moving average is $30.44 and its 200-day moving average is $30.96.

CNX Resources 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.