Woodline Partners LP Takes Position in CNX Resources Co. (NYSE:CNX)

Woodline Partners LP acquired a new stake in CNX Resources Co. (NYSE:CNX - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 1,962,676 shares of the oil and gas producer's stock, valued at approximately $71,971,000. Woodline Partners LP owned approximately 1.31% of CNX Resources at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CNX. Bessemer Group Inc. lifted its stake in CNX Resources by 131.5% in the fourth quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer's stock valued at $34,000 after acquiring an additional 526 shares during the last quarter. Xponance Inc. lifted its stake in CNX Resources by 2.9% in the fourth quarter. Xponance Inc. now owns 20,876 shares of the oil and gas producer's stock valued at $766,000 after acquiring an additional 588 shares during the last quarter. Principal Securities Inc. lifted its stake in CNX Resources by 38.5% in the fourth quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer's stock valued at $91,000 after acquiring an additional 691 shares during the last quarter. SeaBridge Investment Advisors LLC lifted its stake in CNX Resources by 0.8% in the fourth quarter. SeaBridge Investment Advisors LLC now owns 90,301 shares of the oil and gas producer's stock valued at $3,311,000 after acquiring an additional 759 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in CNX Resources in the fourth quarter valued at $39,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

CNX Resources Price Performance

NYSE:CNX opened at $32.47 on Tuesday. CNX Resources Co. has a 52 week low of $23.63 and a 52 week high of $41.93. The firm has a market cap of $4.70 billion, a price-to-earnings ratio of -47.75, a P/E/G ratio of 0.42 and a beta of 0.62. The firm's 50-day simple moving average is $30.76 and its 200 day simple moving average is $32.60. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.32 and a current ratio of 0.33.

Insider Buying and Selling

In other news, Director J. Palmer Clarkson bought 10,000 shares of the firm's stock in a transaction on Monday, May 12th. The shares were purchased at an average cost of $31.20 per share, with a total value of $312,000.00. Following the acquisition, the director now directly owns 245,433 shares in the company, valued at $7,657,509.60. This represents a 4.25% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CNX has been the subject of a number of recent analyst reports. Roth Capital set a $30.00 price target on shares of CNX Resources in a research note on Thursday, January 23rd. Piper Sandler increased their price target on shares of CNX Resources from $21.00 to $25.00 and gave the company an "underweight" rating in a research note on Tuesday, May 13th. Scotiabank upgraded shares of CNX Resources from a "sector underperform" rating to a "sector perform" rating and set a $33.00 price target for the company in a research note on Friday, April 11th. Raymond James upgraded shares of CNX Resources from an "underperform" rating to a "market perform" rating in a research note on Tuesday, February 18th. Finally, JPMorgan Chase & Co. raised their target price on shares of CNX Resources from $32.00 to $33.00 and gave the stock an "underweight" rating in a research note on Thursday, March 13th. Eight research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $31.58.

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.

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