Millennium Management LLC Has $42.34 Million Stock Holdings in CNX Resources Co. (NYSE:CNX)

Millennium Management LLC grew its position in CNX Resources Co. (NYSE:CNX - Free Report) by 69.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,154,588 shares of the oil and gas producer's stock after buying an additional 471,763 shares during the quarter. Millennium Management LLC owned 0.77% of CNX Resources worth $42,339,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Bessemer Group Inc. raised its holdings in shares of CNX Resources by 131.5% in the 4th quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer's stock valued at $34,000 after purchasing an additional 526 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in CNX Resources in the 4th quarter valued at $39,000. VSM Wealth Advisory LLC acquired a new stake in shares of CNX Resources during the fourth quarter worth about $55,000. Principal Securities Inc. lifted its position in CNX Resources by 38.5% during the 4th quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer's stock worth $91,000 after acquiring an additional 691 shares during the period. Finally, Blue Trust Inc. lifted its holdings 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 worth $119,000 after purchasing an additional 1,280 shares during the period. 95.16% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CNX Resources

In related news, Director J. Palmer Clarkson acquired 10,000 shares of the company's stock in a transaction on Monday, May 12th. The stock was purchased at an average cost of $31.20 per share, for a total transaction of $312,000.00. Following the completion of the purchase, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.10% of the company's stock.

Wall Street Analysts Forecast Growth

CNX has been the topic of a number of analyst reports. Stephens raised CNX Resources from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $35.00 to $48.00 in a report on Tuesday, March 18th. JPMorgan Chase & Co. increased their price target on shares of CNX Resources from $32.00 to $33.00 and gave the company an "underweight" rating in a research report on Thursday, March 13th. StockNews.com cut CNX Resources from a "hold" rating to a "sell" rating in a research report 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, Roth Capital set a $30.00 price objective on shares of CNX Resources in a research note on Thursday, January 23rd. Eight research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, CNX Resources has an average rating of "Hold" and a consensus price target of $31.58.

CNX Resources Stock Performance

CNX Resources stock traded down $0.26 during trading hours on Wednesday, reaching $32.03. 1,624,856 shares of the company were exchanged, compared to its average volume of 2,666,528. CNX Resources Co. has a 12 month low of $23.63 and a 12 month high of $41.93. 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 stock has a 50-day moving average of $30.81 and a 200 day moving average of $32.60. The firm has a market cap of $4.63 billion, a price-to-earnings ratio of -47.09, a PEG ratio of 0.42 and a beta of 0.62.

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.