Entropy Technologies LP Purchases Shares of 57,499 CNX Resources Corporation. $CNX

Entropy Technologies LP purchased a new stake in CNX Resources Corporation. (NYSE:CNX) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 57,499 shares of the oil and gas producer’s stock, valued at approximately $2,114,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Aigen Investment Management LP grew its position in shares of CNX Resources by 4.9% in the 4th quarter. Aigen Investment Management LP now owns 7,619 shares of the oil and gas producer’s stock valued at $280,000 after buying an additional 354 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of CNX Resources in the 4th quarter valued at about $50,000. FORA Capital LLC bought a new stake in shares of CNX Resources in the 4th quarter valued at about $739,000. Transamerica Financial Advisors LLC grew its position in shares of CNX Resources by 1,238,316.7% in the 4th quarter. Transamerica Financial Advisors LLC now owns 148,610 shares of the oil and gas producer’s stock valued at $5,464,000 after buying an additional 148,598 shares during the last quarter. Finally, Stifel Financial Corp grew its position in shares of CNX Resources by 778.6% in the 4th quarter. Stifel Financial Corp now owns 135,162 shares of the oil and gas producer’s stock valued at $4,970,000 after buying an additional 119,779 shares during the last quarter. Institutional investors own 95.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CNX. Morgan Stanley reiterated an “underweight” rating on shares of CNX Resources in a research report on Friday, March 27th. Truist Financial started coverage on CNX Resources in a research note on Tuesday, March 24th. They issued a “sell” rating and a $35.00 price objective on the stock. Barclays dropped their price objective on CNX Resources from $36.00 to $35.00 and set an “underweight” rating on the stock in a research note on Tuesday, May 26th. Tudor Pickering raised CNX Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, May 8th. Finally, Weiss Ratings downgraded CNX Resources from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, May 28th. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, CNX Resources currently has a consensus rating of “Reduce” and an average target price of $35.44.

Insider Buying and Selling

In related news, Director Maureen Lally-Green sold 23,631 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $39.52, for a total transaction of $933,897.12. Following the transaction, the director directly owned 169,577 shares of the company’s stock, valued at approximately $6,701,683.04. This represents a 12.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William N. Thorndike, Jr. sold 28,800 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $38.25, for a total value of $1,101,600.00. Following the transaction, the director directly owned 426,585 shares in the company, valued at approximately $16,316,876.25. This trade represents a 6.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 5.03% of the stock is currently owned by corporate insiders.

CNX Resources Stock Down 0.4%

CNX stock opened at $33.02 on Tuesday. The stock’s 50 day simple moving average is $36.45 and its 200 day simple moving average is $37.99. CNX Resources Corporation. has a fifty-two week low of $27.72 and a fifty-two week high of $43.62. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.46 and a current ratio of 0.49. The company has a market cap of $4.67 billion, a P/E ratio of 4.59 and a beta of 0.58.

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.