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

Millennium Management LLC increased its holdings in shares of CNX Resources Co. (NYSE:CNX - Free Report) by 69.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,154,588 shares of the oil and gas producer's stock after purchasing an additional 471,763 shares during the quarter. Millennium Management LLC owned approximately 0.77% of CNX Resources worth $42,339,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CNX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in CNX Resources by 2.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,093 shares of the oil and gas producer's stock worth $3,047,000 after acquiring an additional 2,216 shares in the last quarter. Gotham Asset Management LLC bought a new stake in CNX Resources during the fourth quarter worth $1,279,000. Graham Capital Management L.P. bought a new stake in CNX Resources during the fourth quarter worth $289,000. Focus Partners Wealth bought a new stake in CNX Resources during the fourth quarter worth $207,000. Finally, FORA Capital LLC bought a new stake in CNX Resources during the fourth quarter worth $1,980,000. Institutional investors and hedge funds own 95.16% of the company's stock.

CNX Resources Stock Performance

Shares of CNX stock traded up $0.44 on Friday, hitting $31.65. The company's stock had a trading volume of 1,297,529 shares, compared to its average volume of 2,658,824. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.32 and a current ratio of 0.33. The stock's 50 day moving average is $30.85 and its 200-day moving average is $32.55. CNX Resources Co. has a fifty-two week low of $23.63 and a fifty-two week high of $41.93. The company has a market capitalization of $4.58 billion, a PE ratio of -46.54, a PEG ratio of 0.42 and a beta of 0.62.

Insider Activity at CNX Resources

In other CNX Resources news, Director J. Palmer Clarkson purchased 10,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were acquired 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 owns 245,433 shares of the company's stock, valued at approximately $7,657,509.60. The trade was a 4.25% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CNX shares. Stephens raised shares of CNX Resources from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $35.00 to $48.00 in a research report on Tuesday, March 18th. Mizuho upped their price target on shares of CNX Resources from $35.00 to $36.00 and gave the stock an "underperform" rating in a research report on Tuesday, May 13th. JPMorgan Chase & Co. upped their price target on shares of CNX Resources from $32.00 to $33.00 and gave the stock an "underweight" rating in a research report on Thursday, March 13th. Raymond James raised shares of CNX Resources from an "underperform" rating to a "market perform" rating in a research report on Tuesday, February 18th. Finally, Scotiabank raised shares of CNX Resources from a "sector underperform" rating to a "sector perform" rating and set a $33.00 price objective on the stock in a research report on Friday, April 11th. Eight equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $31.58.

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.