Trexquant Investment LP Makes New $14.08 Million Investment in CNX Resources Corporation. $CNX

Key Points

• Trexquant Investment LP has acquired a new stake in CNX Resources Corporation by buying 447,178 shares valued at approximately $14.08 million, representing 0.31% of the company.
• Institutional investors and hedge funds own 95.16% of CNX Resources, indicating strong institutional support for the stock.
• CNX Resources has seen varied analyst ratings with a current consensus target price of $31.77, while its stock price is currently around $29.26.

Trexquant Investment LP bought a new stake in CNX Resources Corporation. (NYSE:CNX - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 447,178 shares of the oil and gas producer's stock, valued at approximately $14,077,000. Trexquant Investment LP owned about 0.31% of CNX Resources as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Harbor Capital Advisors Inc. purchased a new stake in CNX Resources in the 1st quarter worth approximately $61,000. Sound Income Strategies LLC purchased a new stake in CNX Resources in the 1st quarter worth approximately $63,000. UMB Bank n.a. boosted its position in CNX Resources by 59.7% in the 1st quarter. UMB Bank n.a. now owns 2,062 shares of the oil and gas producer's stock worth $65,000 after purchasing an additional 771 shares in the last quarter. Ameriflex Group Inc. purchased a new stake in CNX Resources in the 4th quarter worth approximately $88,000. Finally, Farther Finance Advisors LLC boosted its position in CNX Resources by 21.0% in the 1st quarter. Farther Finance Advisors LLC now owns 2,931 shares of the oil and gas producer's stock worth $93,000 after purchasing an additional 508 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CNX shares. Barclays started coverage on CNX Resources in a research report on Monday, July 7th. They set an "equal weight" rating and a $33.00 target price on the stock. Scotiabank reiterated a "sector perform" rating and set a $35.00 target price (up previously from $33.00) on shares of CNX Resources in a research report on Friday, July 11th. Mizuho increased their target price on CNX Resources from $35.00 to $36.00 and gave the company an "underperform" rating in a research report on Tuesday, May 13th. TD Cowen upgraded CNX Resources to a "hold" rating in a research report on Monday, July 7th. Finally, Piper Sandler decreased their target price on CNX Resources from $26.00 to $24.00 and set an "underweight" rating on the stock in a research report on Thursday, August 14th. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and seven have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus price target of $31.77.

CNX Resources Price Performance

CNX traded down $0.06 during trading on Friday, reaching $29.20. The company's stock had a trading volume of 1,221,711 shares, compared to its average volume of 1,558,788. The company has a market cap of $4.13 billion, a price-to-earnings ratio of 49.48, a PEG ratio of 0.26 and a beta of 0.60. The firm has a fifty day simple moving average of $31.15 and a two-hundred day simple moving average of $31.02. CNX Resources Corporation. has a 1 year low of $26.50 and a 1 year high of $41.93. The company has a quick ratio of 0.30, a current ratio of 0.33 and a debt-to-equity ratio of 0.56.

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.