Hsbc Holdings PLC Reduces Stock Position in CNX Resources Corporation. $CNX

Hsbc Holdings PLC decreased its position in CNX Resources Corporation. (NYSE:CNX) by 68.9% in the 4th quarter, HoldingsChannel reports. The firm owned 30,851 shares of the oil and gas producer’s stock after selling 68,313 shares during the period. Hsbc Holdings PLC’s holdings in CNX Resources were worth $1,143,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its holdings in shares of CNX Resources by 56.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 810 shares of the oil and gas producer’s stock worth $30,000 after buying an additional 293 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of CNX Resources by 8.6% during the fourth quarter. Farther Finance Advisors LLC now owns 4,464 shares of the oil and gas producer’s stock valued at $164,000 after buying an additional 353 shares during the period. Aigen Investment Management LP boosted its position in CNX Resources by 4.9% during the fourth quarter. Aigen Investment Management LP now owns 7,619 shares of the oil and gas producer’s stock worth $280,000 after acquiring an additional 354 shares during the last quarter. Arkadios Wealth Advisors boosted its position in CNX Resources by 3.2% during the fourth quarter. Arkadios Wealth Advisors now owns 13,028 shares of the oil and gas producer’s stock worth $479,000 after acquiring an additional 400 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in CNX Resources by 18.8% during the fourth quarter. GAMMA Investing LLC now owns 3,821 shares of the oil and gas producer’s stock worth $140,000 after acquiring an additional 606 shares during the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

CNX Resources Stock Performance

Shares of NYSE:CNX opened at $31.96 on Monday. The business has a 50-day moving average of $34.33 and a two-hundred day moving average of $37.22. The firm has a market capitalization of $4.52 billion, a PE ratio of 4.44 and a beta of 0.59. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.49 and a quick ratio of 0.46. CNX Resources Corporation. has a 12 month low of $27.72 and a 12 month high of $43.62.

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 shares were 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 owned 426,585 shares of the company’s stock, valued at approximately $16,316,876.25. This represents a 6.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CNX shares. Morgan Stanley cut their price target on CNX Resources from $34.00 to $32.00 and set an “underweight” rating for the company in a report on Monday, June 29th. Mizuho decreased their price objective on CNX Resources from $44.00 to $42.00 and set a “neutral” rating on the stock in a report on Wednesday, May 27th. Truist Financial began coverage on CNX Resources in a research report on Tuesday, March 24th. They issued a “sell” rating and a $35.00 price objective for the company. Zacks Research lowered CNX Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Finally, Tudor Pickering upgraded CNX Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, May 8th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, CNX Resources has an average rating of “Reduce” and an average price target of $35.44.

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.