FORA Capital LLC Purchases New Position in CNX Resources Co. (NYSE:CNX)

FORA Capital LLC bought a new stake in CNX Resources Co. (NYSE:CNX - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 54,007 shares of the oil and gas producer's stock, valued at approximately $1,980,000.

A number of other hedge funds also recently made changes to their positions in CNX. Deutsche Bank AG increased its position in CNX Resources by 2.2% in the 4th quarter. Deutsche Bank AG now owns 252,820 shares of the oil and gas producer's stock valued at $9,271,000 after acquiring an additional 5,473 shares during the period. Captrust Financial Advisors acquired a new stake in CNX Resources in the 4th quarter valued at approximately $2,323,000. Kapitalo Investimentos Ltda acquired a new stake in CNX Resources in the 4th quarter valued at approximately $232,000. Northern Trust Corp increased its position in CNX Resources by 20.5% in the 4th quarter. Northern Trust Corp now owns 2,421,387 shares of the oil and gas producer's stock valued at $88,792,000 after acquiring an additional 411,485 shares during the period. Finally, Aquatic Capital Management LLC increased its position in CNX Resources by 15.9% in the 4th quarter. Aquatic Capital Management LLC now owns 223,971 shares of the oil and gas producer's stock valued at $8,213,000 after acquiring an additional 30,771 shares during the period. Institutional investors own 95.16% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CNX shares. Morgan Stanley reaffirmed an "underweight" rating and issued a $31.00 price target on shares of CNX Resources in a report on Tuesday, April 15th. Scotiabank raised 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. Piper Sandler raised their price objective on CNX Resources from $21.00 to $25.00 and gave the stock an "underweight" rating in a research note on Tuesday. Stephens raised CNX Resources from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $35.00 to $48.00 in a research note on Tuesday, March 18th. Finally, Bank of America reduced their price objective on CNX Resources from $32.00 to $27.00 and set an "underperform" rating for the company in a research note on Tuesday, April 1st. Eight 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 has an average rating of "Hold" and an average target price of $31.58.

CNX Resources Stock Down 0.9%

Shares of NYSE CNX traded down $0.28 during trading on Wednesday, hitting $32.36. 675,752 shares of the company traded hands, compared to its average volume of 2,675,200. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.32 and a current ratio of 0.33. The business's fifty day moving average is $30.54 and its 200 day moving average is $32.67. The firm has a market capitalization of $4.68 billion, a price-to-earnings ratio of -47.59, a P/E/G ratio of 0.42 and a beta of 0.62. CNX Resources Co. has a fifty-two week low of $23.52 and a fifty-two week high of $41.93.

Insiders Place Their Bets

In related news, Director J. Palmer Clarkson bought 10,000 shares of CNX Resources stock in a transaction dated 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 directly 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.10% of the stock is currently owned by 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.