Rafferty Asset Management LLC Lowers Stock Holdings in CNX Resources Co. (NYSE:CNX)

Rafferty Asset Management LLC lessened its stake in shares of CNX Resources Co. (NYSE:CNX - Free Report) by 21.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 171,616 shares of the oil and gas producer's stock after selling 46,079 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.11% of CNX Resources worth $6,293,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Congress Asset Management Co. raised its holdings in CNX Resources by 7.2% during the 4th quarter. Congress Asset Management Co. now owns 266,447 shares of the oil and gas producer's stock valued at $9,771,000 after buying an additional 17,951 shares during the last quarter. Convergence Investment Partners LLC purchased a new position in shares of CNX Resources in the fourth quarter valued at about $1,556,000. Charles Schwab Investment Management Inc. raised its stake in shares of CNX Resources by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,000,464 shares of the oil and gas producer's stock valued at $73,357,000 after acquiring an additional 139,647 shares during the last quarter. Wakefield Asset Management LLLP purchased a new stake in shares of CNX Resources during the fourth quarter worth about $1,047,000. Finally, Assetmark Inc. grew its stake in shares of CNX Resources by 2.2% in the fourth quarter. Assetmark Inc. now owns 885,429 shares of the oil and gas producer's stock worth $32,469,000 after purchasing an additional 19,309 shares during the last quarter. Hedge funds and other institutional investors own 95.16% of the company's stock.

Insider Activity

In related news, Director J. Palmer Clarkson acquired 10,000 shares of CNX Resources stock in a transaction dated 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 purchase, the director now directly owns 245,433 shares of the company's stock, valued at approximately $7,657,509.60. This trade represents a 4.25% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 3.10% of the company's stock.

CNX Resources Stock Up 1.4%

CNX Resources stock traded up $0.44 during mid-day trading on Friday, hitting $31.65. The company had a trading volume of 282,441 shares, compared to its average volume of 2,937,842. CNX Resources Co. has a 12 month low of $23.63 and a 12 month high of $41.93. The company has a market capitalization of $4.58 billion, a PE ratio of -46.55, a price-to-earnings-growth ratio of 0.42 and a beta of 0.62. The stock's 50 day moving average price is $30.85 and its two-hundred day moving average price is $32.57. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 0.45.

Analyst Upgrades and Downgrades

CNX has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price target on CNX Resources from $32.00 to $33.00 and gave the company an "underweight" rating in a research report on Thursday, March 13th. Morgan Stanley restated an "underweight" rating and set a $31.00 target price on shares of CNX Resources in a report on Tuesday, April 15th. Cowen reaffirmed a "hold" rating on shares of CNX Resources in a research report on Friday, April 25th. Piper Sandler raised their price objective on shares of CNX Resources from $21.00 to $25.00 and gave the stock an "underweight" rating in a report on Tuesday, May 13th. Finally, Mizuho lifted their price objective on CNX Resources from $35.00 to $36.00 and gave the company an "underperform" rating in a research report on Tuesday, May 13th. Eight investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, CNX Resources currently has a consensus rating of "Hold" and a consensus target price 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.