CNX Resources Corporation. $CNX Shares Acquired by BW Gestao de Investimentos Ltda.

BW Gestao de Investimentos Ltda. lifted its position in shares of CNX Resources Corporation. (NYSE:CNX) by 180.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 108,800 shares of the oil and gas producer’s stock after buying an additional 70,011 shares during the quarter. BW Gestao de Investimentos Ltda. owned approximately 0.08% of CNX Resources worth $4,001,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CNX. Capital Research Global Investors raised its stake in CNX Resources by 38.6% in the 3rd quarter. Capital Research Global Investors now owns 3,950,000 shares of the oil and gas producer’s stock valued at $126,874,000 after purchasing an additional 1,100,000 shares during the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of CNX Resources by 601.8% during the 3rd quarter. Balyasny Asset Management L.P. now owns 1,105,456 shares of the oil and gas producer’s stock worth $35,507,000 after purchasing an additional 947,931 shares during the period. AQR Capital Management LLC grew its holdings in shares of CNX Resources by 112.2% during the 2nd quarter. AQR Capital Management LLC now owns 1,007,486 shares of the oil and gas producer’s stock worth $33,932,000 after purchasing an additional 532,770 shares during the period. American Century Companies Inc. lifted its position in CNX Resources by 16.3% during the 3rd quarter. American Century Companies Inc. now owns 3,236,441 shares of the oil and gas producer’s stock worth $103,954,000 after acquiring an additional 454,071 shares in the last quarter. Finally, Jefferies Financial Group Inc. acquired a new position in CNX Resources during the 4th quarter worth approximately $15,786,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

CNX Resources Stock Down 0.5%

Shares of CNX Resources stock opened at $33.29 on Wednesday. The stock has a 50-day moving average price of $37.76 and a 200 day moving average price of $38.25. The company has a market cap of $4.71 billion, a P/E ratio of 4.62 and a beta of 0.58. The company has a current ratio of 0.49, a quick ratio of 0.46 and a debt-to-equity ratio of 0.47. CNX Resources Corporation. has a 1 year low of $27.72 and a 1 year high of $43.62.

Insider Transactions at CNX Resources

In other news, Director William N. Thorndike, Jr. sold 28,800 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $38.25, for a total transaction of $1,101,600.00. Following the completion of the sale, the director directly owned 426,585 shares of the company’s stock, valued at $16,316,876.25. This trade represents a 6.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Maureen Lally-Green sold 23,631 shares of the firm’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $39.52, for a total value of $933,897.12. Following the sale, the director directly owned 169,577 shares of the company’s stock, valued at $6,701,683.04. This trade represents a 12.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 5.03% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on CNX. Barclays reduced their price target on CNX Resources from $36.00 to $35.00 and set an “underweight” rating on the stock in a research report on Tuesday, May 26th. Truist Financial initiated coverage on CNX Resources in a research report on Tuesday, March 24th. They set a “sell” rating and a $35.00 price target on the stock. Mizuho lowered their price objective on CNX Resources from $44.00 to $42.00 and set a “neutral” rating for the company in a research note on Wednesday, May 27th. Zacks Research downgraded CNX Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Finally, Weiss Ratings cut CNX Resources from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, May 28th. One research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $35.44.

About CNX Resources

CNX Resources Corporation is a natural gas and natural gas liquids producer with operations concentrated in the Appalachian Basin. Established as an independent, publicly traded entity in 2018 following its spinoff from Consol Energy, the company focuses on the exploration, development and production of hydrocarbon resources in the Marcellus and Utica shales across Pennsylvania, West Virginia and Ohio.

In addition to its upstream activities, CNX Resources has invested in midstream infrastructure through its subsidiary that gathers, processes and transports natural gas.