Renaissance Technologies LLC Sells 17,800 Shares of CNX Resources Co. (NYSE:CNX)

Renaissance Technologies LLC cut its stake in shares of CNX Resources Co. (NYSE:CNX - Free Report) by 46.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,316 shares of the oil and gas producer's stock after selling 17,800 shares during the period. Renaissance Technologies LLC's holdings in CNX Resources were worth $745,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its holdings in shares of CNX Resources by 7.5% in 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 purchasing an additional 139,647 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in CNX Resources during the 4th quarter worth about $37,923,000. Assetmark Inc. grew its position in CNX Resources by 2.2% during the fourth quarter. Assetmark Inc. now owns 885,429 shares of the oil and gas producer's stock valued at $32,469,000 after purchasing an additional 19,309 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of CNX Resources by 0.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 622,503 shares of the oil and gas producer's stock worth $22,827,000 after acquiring an additional 5,769 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in shares of CNX Resources by 1.3% during the 4th quarter. Rhumbline Advisers now owns 494,625 shares of the oil and gas producer's stock worth $18,138,000 after purchasing an additional 6,404 shares in the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Scotiabank raised 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. TD Cowen began coverage on shares of CNX Resources in a research note on Wednesday, January 15th. They set a "hold" rating and a $27.00 price target on the stock. Mizuho lifted their price objective on shares of CNX Resources from $34.00 to $35.00 and gave the company an "underperform" rating in a research note on Monday, April 7th. Bank of America lowered their target price 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. Finally, Morgan Stanley reaffirmed an "underweight" rating and issued a $31.00 price target on shares of CNX Resources in a research report on Tuesday, April 15th. Eight analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, CNX Resources has a consensus rating of "Hold" and a consensus price target of $31.17.

CNX Resources Stock Performance

CNX stock traded up $0.11 on Wednesday, reaching $31.55. 1,590,604 shares of the company were exchanged, compared to its average volume of 2,678,363. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32. CNX Resources Co. has a 12 month low of $23.10 and a 12 month high of $41.93. The stock's fifty day moving average price is $30.36 and its 200 day moving average price is $32.83. The firm has a market capitalization of $4.57 billion, a PE ratio of -46.40, a PEG ratio of 0.42 and a beta of 0.62.

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.