Peregrine Capital Management LLC Lowers Stock Position in CNX Resources Corporation. (NYSE:CNX)

Peregrine Capital Management LLC lessened its position in shares of CNX Resources Corporation. (NYSE:CNX - Free Report) by 5.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 157,796 shares of the oil and gas producer's stock after selling 8,616 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.11% of CNX Resources worth $4,967,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bessemer Group Inc. grew its position in shares of CNX Resources by 131.5% during the 4th quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer's stock valued at $34,000 after acquiring an additional 526 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in CNX Resources during the fourth quarter worth approximately $39,000. VSM Wealth Advisory LLC acquired a new stake in CNX Resources in the fourth quarter valued at approximately $55,000. Harbor Capital Advisors Inc. purchased a new stake in shares of CNX Resources in the first quarter valued at approximately $61,000. Finally, Sound Income Strategies LLC acquired a new position in shares of CNX Resources during the 1st quarter worth approximately $63,000. Hedge funds and other institutional investors own 95.16% of the company's stock.

CNX Resources Stock Performance

Shares of CNX Resources stock opened at $33.70 on Tuesday. The business's 50 day moving average price is $31.91 and its 200 day moving average price is $31.33. The company has a market cap of $4.88 billion, a price-to-earnings ratio of -16.36, a PEG ratio of 0.32 and a beta of 0.66. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.25 and a current ratio of 0.27. CNX Resources Corporation. has a one year low of $23.85 and a one year high of $41.93.

Insider Activity

In other news, Director J. Palmer Clarkson purchased 10,000 shares of the stock in a transaction dated Monday, May 12th. The shares were purchased at an average price of $31.20 per share, with a total value of $312,000.00. Following the transaction, the director owned 245,433 shares in the company, valued at $7,657,509.60. The trade was a 4.25% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.59% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CNX shares. Cowen reissued a "hold" rating on shares of CNX Resources in a research note on Friday, April 25th. Scotiabank raised shares of CNX Resources from a "sector underperform" rating to a "sector perform" rating and set a $33.00 target price for the company in a research note on Friday, April 11th. Stephens upgraded 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. Bank of America decreased their price target on shares of CNX Resources from $32.00 to $27.00 and set an "underperform" rating on the stock in a research note on Tuesday, April 1st. Finally, Mizuho boosted 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 investment 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's stock. According to data from MarketBeat, CNX Resources presently has an average rating of "Hold" and an average target price of $31.58.

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.

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