Two Sigma Advisers LP Acquires 242,600 Shares of CNX Resources Co. (NYSE:CNX)

Two Sigma Advisers LP grew its holdings in CNX Resources Co. (NYSE:CNX - Free Report) by 29.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,078,300 shares of the oil and gas producer's stock after acquiring an additional 242,600 shares during the period. Two Sigma Advisers LP owned 0.72% of CNX Resources worth $39,541,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Tidal Investments LLC bought a new position in CNX Resources in the fourth quarter worth approximately $306,000. Teza Capital Management LLC raised its position in CNX Resources by 12.1% in the fourth quarter. Teza Capital Management LLC now owns 27,770 shares of the oil and gas producer's stock worth $1,018,000 after acquiring an additional 2,999 shares during the period. ProShare Advisors LLC raised its position in CNX Resources by 39.2% in the fourth quarter. ProShare Advisors LLC now owns 48,083 shares of the oil and gas producer's stock worth $1,763,000 after acquiring an additional 13,552 shares during the period. Quantedge Capital Pte Ltd bought a new position in CNX Resources in the fourth quarter worth approximately $2,574,000. Finally, Quantinno Capital Management LP bought a new position in CNX Resources in the fourth quarter worth approximately $244,000. 95.16% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CNX shares. Bank of America decreased their price target on shares of CNX Resources from $32.00 to $27.00 and set an "underperform" rating on the stock in a research report on Tuesday, April 1st. Piper Sandler increased their price objective on shares of CNX Resources from $21.00 to $25.00 and gave the stock an "underweight" rating in a research note on Tuesday, May 13th. Mizuho increased their price objective on shares of CNX Resources from $35.00 to $36.00 and gave the stock an "underperform" rating in a research note on Tuesday, May 13th. Scotiabank raised shares of CNX Resources from a "sector underperform" rating to a "sector perform" rating and set a $33.00 price objective for the company in a research note on Friday, April 11th. Finally, Roth Capital set a $30.00 price objective on shares of CNX Resources in a research note on Thursday, January 23rd. Eight investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $31.58.

Insider Activity at CNX Resources

In related news, Director J. Palmer Clarkson bought 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, with a total value of $312,000.00. Following the completion of the purchase, the director now owns 245,433 shares of the company's stock, valued at approximately $7,657,509.60. The trade was a 4.25% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.10% of the stock is currently owned by corporate insiders.

CNX Resources Stock Performance

CNX opened at $32.47 on Tuesday. The stock has a market capitalization of $4.70 billion, a price-to-earnings ratio of -47.75, a PEG ratio of 0.42 and a beta of 0.62. The company has a fifty day moving average of $30.76 and a 200 day moving average of $32.60. CNX Resources Co. has a fifty-two week low of $23.63 and a fifty-two week high of $41.93. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.32 and a current ratio of 0.33.

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.

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