Readystate Asset Management LP bought a new position in shares of CNX Resources Corporation. (NYSE:CNX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 16,604 shares of the oil and gas producer's stock, valued at approximately $523,000.
Other hedge funds have also recently modified their holdings of the company. KLP Kapitalforvaltning AS grew its stake in CNX Resources by 3.6% in the 1st quarter. KLP Kapitalforvaltning AS now owns 69,600 shares of the oil and gas producer's stock valued at $2,191,000 after buying an additional 2,400 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in CNX Resources in the 1st quarter valued at approximately $3,141,000. Victory Capital Management Inc. grew its stake in CNX Resources by 75.6% in the 1st quarter. Victory Capital Management Inc. now owns 142,658 shares of the oil and gas producer's stock valued at $4,491,000 after buying an additional 61,438 shares in the last quarter. Significant Wealth Partners LLC grew its stake in CNX Resources by 26.1% in the 1st quarter. Significant Wealth Partners LLC now owns 9,798 shares of the oil and gas producer's stock valued at $308,000 after buying an additional 2,028 shares in the last quarter. Finally, Leavell Investment Management Inc. grew its stake in CNX Resources by 11.9% in the 1st quarter. Leavell Investment Management Inc. now owns 8,578 shares of the oil and gas producer's stock valued at $270,000 after buying an additional 912 shares in the last quarter. Institutional investors own 95.16% of the company's stock.
CNX Resources Stock Down 3.0%
Shares of NYSE CNX traded down $0.99 during trading hours on Thursday, hitting $32.15. 3,227,355 shares of the stock were exchanged, compared to its average volume of 2,112,410. The company has a quick ratio of 0.25, a current ratio of 0.27 and a debt-to-equity ratio of 0.63. The company has a market cap of $4.65 billion, a PE ratio of -15.60, a PEG ratio of 0.33 and a beta of 0.66. The firm has a fifty day moving average price of $32.78 and a 200-day moving average price of $31.04. CNX Resources Corporation. has a 12 month low of $23.85 and a 12 month high of $41.93.
Analysts Set New Price Targets
Several research analysts have commented on CNX shares. TD Cowen raised shares of CNX Resources to a "hold" rating in a report on Monday, July 7th. Barclays began coverage on shares of CNX Resources in a report on Monday, July 7th. They issued an "equal weight" rating and a $33.00 price target for the company. Piper Sandler lifted 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. Morgan Stanley reaffirmed an "underweight" rating and set a $31.00 price objective on shares of CNX Resources in a report on Tuesday, April 15th. Finally, Bank of America dropped their price objective on shares of CNX Resources from $32.00 to $27.00 and set an "underperform" rating for the company in a report on Tuesday, April 1st. Eight investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, CNX Resources currently has a consensus rating of "Hold" and a consensus target price of $31.85.
Get Our Latest Analysis on CNX
Insiders Place Their Bets
In other CNX Resources news, Director J. Palmer Clarkson acquired 10,000 shares of the business's stock in a transaction dated Monday, May 12th. The shares were purchased at an average price of $31.20 per share, for a total transaction of $312,000.00. Following the completion of the purchase, the director directly owned 245,433 shares of the company's stock, valued at $7,657,509.60. The trade was a 4.25% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.10% of the company's stock.
CNX Resources Company Profile
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Free Report)
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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