Great Lakes Advisors LLC Reduces Stock Holdings in 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 lowered its stake in shares of CNX Resources Corporation. (NYSE:CNX - Free Report) by 3.8% in the first quarter, according to its most recent 13F filing with the SEC. The fund 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 approximately 0.28% of CNX Resources worth $12,763,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in CNX. Harbor Capital Advisors Inc. acquired a new position in CNX Resources during the 1st quarter valued at about $61,000. Sound Income Strategies LLC acquired a new position in CNX Resources during the 1st quarter valued at about $63,000. UMB Bank n.a. boosted its stake in CNX Resources by 59.7% during the 1st quarter. UMB Bank n.a. now owns 2,062 shares of the oil and gas producer's stock valued at $65,000 after purchasing an additional 771 shares during the last quarter. Ameriflex Group Inc. acquired a new position in CNX Resources during the 4th quarter valued at about $88,000. Finally, Farther Finance Advisors LLC boosted its stake in CNX Resources by 21.0% during the 1st quarter. Farther Finance Advisors LLC now owns 2,931 shares of the oil and gas producer's stock valued at $93,000 after purchasing an additional 508 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company's stock.

CNX Resources Stock Performance

CNX Resources stock traded up $0.07 during trading on Friday, hitting $29.99. The stock had a trading volume of 1,303,247 shares, compared to its average volume of 1,389,955. CNX Resources Corporation. has a 1 year low of $27.00 and a 1 year high of $41.93. The company has a quick ratio of 0.30, a current ratio of 0.33 and a debt-to-equity ratio of 0.56. The stock's 50 day moving average is $30.40 and its two-hundred day moving average is $30.98. The stock has a market cap of $4.24 billion, a price-to-earnings ratio of 50.83, a price-to-earnings-growth ratio of 0.27 and a beta of 0.60.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Scotiabank reiterated a "sector perform" rating and set a $35.00 price target (up previously from $33.00) on shares of CNX Resources in a research note on Friday, July 11th. Barclays began coverage on CNX Resources in a research note on Monday, July 7th. They issued an "equal weight" rating and a $33.00 target price on the stock. TD Cowen upgraded CNX Resources to a "hold" rating in a research note on Monday, July 7th. Finally, Piper Sandler cut their target price on CNX Resources from $26.00 to $24.00 and set an "underweight" rating on the stock in a research note on Thursday, August 14th. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and seven have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, CNX Resources currently has a consensus rating of "Reduce" and a consensus price target of $31.77.

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.