Rhumbline Advisers Lowers Holdings in CNX Resources Co. (NYSE:CNX)

Rhumbline Advisers decreased its holdings in shares of CNX Resources Co. (NYSE:CNX - Free Report) by 3.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 477,415 shares of the oil and gas producer's stock after selling 17,210 shares during the period. Rhumbline Advisers owned 0.33% of CNX Resources worth $15,029,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bessemer Group Inc. raised its position in 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 purchasing an additional 526 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in CNX Resources during the 4th quarter valued at approximately $39,000. VSM Wealth Advisory LLC bought a new position in CNX Resources during the 4th quarter valued at approximately $55,000. Ameriflex Group Inc. bought a new position in CNX Resources during the 4th quarter valued at approximately $88,000. Finally, Principal Securities Inc. raised its position in CNX Resources by 38.5% during the 4th quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer's stock valued at $91,000 after purchasing an additional 691 shares during the last quarter. Institutional investors own 95.16% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Morgan Stanley reaffirmed an "underweight" rating and set a $31.00 price target on shares of CNX Resources in a research report on Tuesday, April 15th. Stephens raised CNX Resources from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $35.00 to $48.00 in a research report on Tuesday, March 18th. Cowen reissued a "hold" rating on shares of CNX Resources in a research report on Friday, April 25th. Raymond James upgraded CNX Resources from an "underperform" rating to a "market perform" rating in a research note on Tuesday, February 18th. Finally, Piper Sandler upped their price target on CNX Resources from $21.00 to $25.00 and gave the stock an "underweight" rating in a research note 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 stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $31.58.

CNX Resources Stock Performance

Shares of CNX traded down $0.20 during trading hours on Wednesday, hitting $32.10. The stock had a trading volume of 1,938,974 shares, compared to its average volume of 2,646,802. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32. CNX Resources Co. has a 12 month low of $23.63 and a 12 month high of $41.93. The firm has a market capitalization of $4.64 billion, a PE ratio of -47.20, a PEG ratio of 0.42 and a beta of 0.66. The stock has a fifty day moving average price of $30.90 and a 200 day moving average price of $31.90.

Insider Buying and Selling

In related news, Director J. Palmer Clarkson acquired 10,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was bought at an average cost of $31.20 per share, for a total transaction of $312,000.00. Following the purchase, the director now owns 245,433 shares in the company, valued at $7,657,509.60. The trade was a 4.25% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 4.59% of the stock is currently owned by corporate insiders.

CNX Resources Company 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.