SG Americas Securities LLC Sells 95,339 Shares of CNX Resources Corporation. $CNX

SG Americas Securities LLC trimmed its stake in shares of CNX Resources Corporation. (NYSE:CNX) by 53.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 83,788 shares of the oil and gas producer’s stock after selling 95,339 shares during the period. SG Americas Securities LLC owned approximately 0.06% of CNX Resources worth $3,230,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CNX. State of Wyoming bought a new stake in CNX Resources in the 2nd quarter worth approximately $29,000. Smartleaf Asset Management LLC lifted its holdings in shares of CNX Resources by 56.7% during 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. Los Angeles Capital Management LLC purchased a new position in shares of CNX Resources in the 4th quarter worth $34,000. Kestra Advisory Services LLC purchased a new position in shares of CNX Resources in the 4th quarter worth $50,000. Finally, Highlander Partners L.P. bought a new stake in shares of CNX Resources in the fourth quarter worth $56,000. Institutional investors own 95.16% of the company’s stock.

Analyst Ratings Changes

CNX has been the subject of a number of research reports. Tudor Pickering upgraded CNX Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, May 8th. Zacks Research cut CNX Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Barclays cut their price target on CNX Resources from $36.00 to $35.00 and set an “underweight” rating for the company in a research note on Tuesday, May 26th. Truist Financial started coverage on shares of CNX Resources in a research report on Tuesday, March 24th. They set a “sell” rating and a $35.00 price target for the company. Finally, Weiss Ratings cut shares of CNX Resources from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, May 28th. One 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 MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $35.44.

Insider Buying and Selling

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 value of $1,101,600.00. Following the transaction, the director owned 426,585 shares of the company’s stock, valued at $16,316,876.25. This trade represents a 6.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.03% of the stock is currently owned by insiders.

CNX Resources Trading Up 1.9%

NYSE:CNX opened at $33.92 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.49 and a quick ratio of 0.46. The firm has a market capitalization of $4.80 billion, a price-to-earnings ratio of 4.71 and a beta of 0.58. CNX Resources Corporation. has a one year low of $27.72 and a one year high of $43.62. The business has a fifty day moving average price of $35.18 and a 200-day moving average price of $37.50.

CNX Resources 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.