Rhumbline Advisers Sells 17,210 Shares of CNX Resources Co. (NYSE:CNX)

Rhumbline Advisers lessened its holdings in CNX Resources Co. (NYSE:CNX) by 3.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 477,415 shares of the oil and gas producer’s stock after selling 17,210 shares during the quarter. Rhumbline Advisers owned 0.33% of CNX Resources worth $15,029,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Bessemer Group Inc. grew its holdings in shares of CNX Resources by 131.5% in the 4th quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer’s stock worth $34,000 after purchasing an additional 526 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of CNX Resources in the 4th quarter valued at about $39,000. VSM Wealth Advisory LLC bought a new position in CNX Resources during the 4th quarter worth approximately $55,000. Ameriflex Group Inc. bought a new position in CNX Resources during the 4th quarter worth approximately $88,000. Finally, Principal Securities Inc. boosted its stake in CNX Resources by 38.5% during the 4th quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer’s stock worth $91,000 after acquiring an additional 691 shares during the last quarter. Institutional investors own 95.16% of the company’s stock.

Insider Activity

In other CNX Resources news, Director J. Palmer Clarkson acquired 10,000 shares of the company’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 completion of the purchase, the director now owns 245,433 shares of the company’s stock, valued at approximately $7,657,509.60. This represents a 4.25% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CNX has been the topic of a number of research reports. Cowen reaffirmed a “hold” rating on shares of CNX Resources in a research note on Friday, April 25th. Raymond James raised shares of CNX Resources from an “underperform” rating to a “market perform” rating in a research report on Tuesday, February 18th. Piper Sandler boosted their target price on shares of CNX Resources from $21.00 to $25.00 and gave the stock an “underweight” rating in a report on Tuesday, May 13th. 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 note on Tuesday, April 1st. Finally, Stephens raised shares of CNX Resources from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $35.00 to $48.00 in a report on Tuesday, March 18th. Eight equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $31.58.

CNX Resources Price Performance

CNX stock opened at $31.49 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32. The company’s 50-day moving average is $30.83 and its 200-day moving average is $31.96. The stock has a market capitalization of $4.56 billion, a PE ratio of -46.31, a price-to-earnings-growth ratio of 0.42 and a beta of 0.66. CNX Resources Co. has a 1 year low of $23.63 and a 1 year high of $41.93.

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.