Gotham Asset Management LLC Takes Position in CNX Resources Co. (NYSE:CNX)

Gotham Asset Management LLC purchased a new stake in CNX Resources Co. (NYSE:CNX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 34,892 shares of the oil and gas producer's stock, valued at approximately $1,279,000.

A number of other hedge funds have also modified their holdings of CNX. Northern Trust Corp raised its holdings 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 buying an additional 411,485 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of CNX Resources by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,000,464 shares of the oil and gas producer's stock valued at $73,357,000 after acquiring an additional 139,647 shares during the last quarter. Capital Research Global Investors raised its stake in shares of CNX Resources by 31.8% in the 4th quarter. Capital Research Global Investors now owns 1,450,000 shares of the oil and gas producer's stock valued at $53,172,000 after acquiring an additional 350,000 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in shares of CNX Resources in the 4th quarter valued at approximately $37,923,000. Finally, Assetmark Inc. lifted its holdings in shares of CNX Resources by 2.2% in the 4th quarter. Assetmark Inc. now owns 885,429 shares of the oil and gas producer's stock worth $32,469,000 after acquiring an additional 19,309 shares during the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

CNX Resources Stock Down 1.7%

Shares of CNX traded down $0.54 during midday trading on Thursday, hitting $31.48. The company had a trading volume of 219,510 shares, compared to its average volume of 2,951,986. CNX Resources Co. has a 1 year low of $23.63 and a 1 year high of $41.93. The firm has a market capitalization of $4.56 billion, a P/E ratio of -46.31, a P/E/G ratio of 0.42 and a beta of 0.62. 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 company's 50-day simple moving average is $30.84 and its 200-day simple moving average is $32.60.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CNX. Cowen reiterated a "hold" rating on shares of CNX Resources in a report on Friday, April 25th. JPMorgan Chase & Co. lifted their price objective on CNX Resources from $32.00 to $33.00 and gave the company an "underweight" rating in a research note on Thursday, March 13th. Raymond James raised CNX Resources from an "underperform" rating to a "market perform" rating in a research note on Tuesday, February 18th. Bank of America lowered their target price on CNX Resources from $32.00 to $27.00 and set an "underperform" rating for the company in a report on Tuesday, April 1st. Finally, Mizuho boosted their price target 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. Eight research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $31.58.

Insider Buying and Selling

In other news, Director J. Palmer Clarkson acquired 10,000 shares of the company's stock in a transaction on Monday, May 12th. The shares were bought 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 in the company, valued at approximately $7,657,509.60. This trade represents a 4.25% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.10% of the stock is owned by insiders.

About CNX Resources

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.