Aristeia Capital L.L.C. Sells 153,528 Shares of CNX Resources Corporation. $CNX

Aristeia Capital L.L.C. lessened its position in shares of CNX Resources Corporation. (NYSE:CNX) by 48.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 166,119 shares of the oil and gas producer’s stock after selling 153,528 shares during the quarter. Aristeia Capital L.L.C. owned approximately 0.12% of CNX Resources worth $6,108,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. State of Wyoming bought a new position in CNX Resources in the second quarter worth $29,000. Smartleaf Asset Management LLC increased its holdings in CNX Resources by 56.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 810 shares of the oil and gas producer’s stock valued at $30,000 after buying an additional 293 shares during the period. Caitlin John LLC acquired a new position in shares of CNX Resources in the 3rd quarter valued at $31,000. Los Angeles Capital Management LLC acquired a new position in shares of CNX Resources in the 4th quarter valued at $34,000. Finally, Kestra Advisory Services LLC bought a new position in shares of CNX Resources during the 4th quarter worth about $50,000. 95.16% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director William N. Thorndike, Jr. sold 28,800 shares of the stock in a transaction that occurred on 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 sale, the director directly owned 426,585 shares in the company, valued at $16,316,876.25. This represents a 6.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Maureen Lally-Green sold 23,631 shares of the firm’s stock in a transaction on Monday, March 23rd. The shares were 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 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 currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CNX shares. Morgan Stanley reiterated an “underweight” rating on shares of CNX Resources in a research report on Friday, March 27th. Tudor Pickering upgraded shares of CNX Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, May 8th. Truist Financial began coverage on CNX Resources in a report on Tuesday, March 24th. They set a “sell” rating and a $35.00 price objective on the stock. Mizuho lowered their price objective on CNX Resources from $44.00 to $42.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 27th. Finally, Weiss Ratings cut CNX Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, May 28th. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $35.44.

CNX Resources Trading Down 1.3%

Shares of CNX Resources stock opened at $32.95 on Thursday. CNX Resources Corporation. has a 12-month low of $27.72 and a 12-month high of $43.62. The stock has a market capitalization of $4.66 billion, a P/E ratio of 4.58 and a beta of 0.58. The company has a 50-day simple moving average of $36.21 and a 200 day simple moving average of $37.92. The company has a quick ratio of 0.46, a current ratio of 0.49 and a debt-to-equity ratio of 0.47.

CNX Resources Company Profile

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.