CNX Resources Co. (NYSE:CNX) Shares Sold by Rhumbline Advisers

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

Several other institutional investors have also recently made changes to their positions in CNX. Bessemer Group Inc. raised its position in CNX Resources by 131.5% in the 4th quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer's stock worth $34,000 after purchasing an additional 526 shares during the period. Harvest Fund Management Co. Ltd bought a new position in CNX Resources in the 4th quarter valued at $39,000. VSM Wealth Advisory LLC purchased a new stake in CNX Resources in the fourth quarter worth $55,000. Ameriflex Group Inc. bought a new stake in shares of CNX Resources during the fourth quarter worth $88,000. Finally, Principal Securities Inc. lifted its position in shares of CNX Resources by 38.5% during the fourth quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer's stock worth $91,000 after purchasing an additional 691 shares during the last quarter. Institutional investors own 95.16% of the company's stock.

CNX Resources Trading Up 0.1%

CNX stock traded up $0.02 during trading on Thursday, reaching $32.06. 1,832,164 shares of the stock were exchanged, compared to its average volume of 2,643,557. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $4.64 billion, a price-to-earnings ratio of -47.15, a P/E/G ratio of 0.42 and a beta of 0.66. The business has a 50 day moving average price of $30.90 and a 200-day moving average price of $31.90. CNX Resources Co. has a 1 year low of $23.63 and a 1 year high of $41.93.

Analysts Set New Price Targets

Several brokerages have recently commented on CNX. Mizuho raised their price target on CNX Resources from $35.00 to $36.00 and gave the company an "underperform" rating in a research note on Tuesday, May 13th. Bank of America cut their target price on CNX Resources from $32.00 to $27.00 and set an "underperform" rating on the stock in a research report on Tuesday, April 1st. Raymond James raised shares of CNX Resources from an "underperform" rating to a "market perform" rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. upped their price objective on CNX Resources from $32.00 to $33.00 and gave the stock an "underweight" rating in a research report on Thursday, March 13th. Finally, Wall Street Zen cut CNX Resources from a "hold" rating to a "sell" rating in a report on Thursday, February 13th. Eight analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $31.58.

Insider Transactions at CNX Resources

In other CNX Resources 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 purchased at an average cost of $31.20 per share, with a total value of $312,000.00. Following the transaction, the director now owns 245,433 shares of the company's stock, valued at $7,657,509.60. This trade represents a 4.25% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 4.59% of the company's stock.

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.