Neo Ivy Capital Management Raises Stock Holdings in CNX Resources Corporation. (NYSE:CNX)

Key Points

• Neo Ivy Capital Management increased its stake in CNX Resources Corporation by 67.5%, now holding 65,324 shares valued at approximately $2.06 million.
• Institutional investors own 95.16% of CNX Resources' stock, with several hedge funds recently increasing their stakes significantly.
• The stock currently has a price-to-earnings ratio of -15.60 and an average analyst rating of "Hold" with a consensus price target of $31.85.

Neo Ivy Capital Management boosted its position in CNX Resources Corporation. (NYSE:CNX - Free Report) by 67.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 65,324 shares of the oil and gas producer's stock after purchasing an additional 26,336 shares during the period. Neo Ivy Capital Management's holdings in CNX Resources were worth $2,056,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. HighTower Advisors LLC lifted its position in shares of CNX Resources by 6.9% during the 4th quarter. HighTower Advisors LLC now owns 29,168 shares of the oil and gas producer's stock valued at $1,070,000 after buying an additional 1,879 shares in the last quarter. Teacher Retirement System of Texas lifted its position in shares of CNX Resources by 104.8% during the 4th quarter. Teacher Retirement System of Texas now owns 46,170 shares of the oil and gas producer's stock valued at $1,693,000 after buying an additional 23,630 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of CNX Resources during the 4th quarter valued at about $2,464,000. Pictet Asset Management Holding SA raised its stake in CNX Resources by 9.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 20,786 shares of the oil and gas producer's stock valued at $762,000 after purchasing an additional 1,873 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new stake in CNX Resources during the 4th quarter valued at approximately $37,923,000. 95.16% of the stock is owned by hedge funds and other institutional investors.

CNX Resources Trading Down 0.2%

CNX Resources stock traded down $0.07 during mid-day trading on Tuesday, hitting $30.52. The company's stock had a trading volume of 764,578 shares, compared to its average volume of 2,713,358. The company has a 50 day moving average of $32.70 and a 200-day moving average of $31.05. The stock has a market cap of $4.42 billion, a PE ratio of 51.75, a P/E/G ratio of 0.31 and a beta of 0.66. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.30 and a current ratio of 0.33. CNX Resources Corporation. has a one year low of $23.85 and a one year high of $41.93.

Analyst Upgrades and Downgrades

CNX has been the topic of several recent analyst reports. Piper Sandler lifted their target price on CNX Resources from $21.00 to $25.00 and gave the company an "underweight" rating in a research note on Tuesday, May 13th. Barclays initiated coverage on CNX Resources in a research note on Monday, July 7th. They issued an "equal weight" rating and a $33.00 price objective on the stock. Cowen reaffirmed a "hold" rating on shares of CNX Resources in a research note on Friday, April 25th. Morgan Stanley reaffirmed an "underweight" rating and issued a $31.00 price objective on shares of CNX Resources in a research note on Tuesday, April 15th. Finally, Mizuho lifted their price objective on CNX Resources from $35.00 to $36.00 and gave the stock an "underperform" rating in a research note on Tuesday, May 13th. Eight research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, CNX Resources currently has a consensus rating of "Hold" and a consensus price target of $31.85.

Insider Buying and Selling

In other news, Director J. Palmer Clarkson bought 10,000 shares of the stock in a transaction on Monday, May 12th. The stock was acquired at an average cost of $31.20 per share, for a total transaction of $312,000.00. Following the acquisition, the director owned 245,433 shares of the company's stock, valued at $7,657,509.60. This represents a 4.25% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.59% of the stock is owned by company insiders.

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.