Bank of New York Mellon Corp Decreases Holdings in CNX Resources Corporation. $CNX

Bank of New York Mellon Corp reduced its position in CNX Resources Corporation. (NYSE:CNX) by 4.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 1,320,369 shares of the oil and gas producer’s stock after selling 66,312 shares during the period. Bank of New York Mellon Corp’s holdings in CNX Resources were worth $50,900,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Pullen Investment Management LLC lifted its holdings in CNX Resources by 76.3% during the fourth quarter. Pullen Investment Management LLC now owns 68,083 shares of the oil and gas producer’s stock valued at $2,503,000 after purchasing an additional 29,469 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of CNX Resources by 3,227.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 90,603 shares of the oil and gas producer’s stock worth $3,331,000 after buying an additional 87,880 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of CNX Resources by 408.1% in the 4th quarter. SG Americas Securities LLC now owns 179,127 shares of the oil and gas producer’s stock valued at $6,586,000 after acquiring an additional 143,870 shares in the last quarter. Principal Financial Group Inc. lifted its position in CNX Resources by 98.4% during the first quarter. Principal Financial Group Inc. now owns 579,120 shares of the oil and gas producer’s stock valued at $22,325,000 after purchasing an additional 287,240 shares during the last quarter. Finally, Dorsey Wright & Associates purchased a new stake in shares of CNX Resources during the 4th quarter valued at $5,498,000. 95.16% of the stock is owned by institutional investors and hedge funds.

CNX Resources Trading Down 0.6%

NYSE:CNX opened at $34.43 on Friday. CNX Resources Corporation. has a one year low of $27.72 and a one year high of $43.62. 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 company’s 50-day simple moving average is $33.76 and its 200 day simple moving average is $36.99. The firm has a market capitalization of $4.87 billion, a P/E ratio of 4.78 and a beta of 0.59.

Analyst Ratings Changes

A number of analysts have recently issued reports on CNX shares. Truist Financial raised shares of CNX Resources from a “sell” rating to a “hold” rating and set a $35.00 price objective for the company in a report on Wednesday, July 15th. Weiss Ratings downgraded CNX Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, May 28th. Barclays dropped 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. Tudor Pickering upgraded CNX Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, May 8th. Finally, Zacks Research cut CNX Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. One equities research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $35.44.

Insider Buying and Selling at CNX Resources

In related news, 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 sale, the director 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 filing with the SEC, which is available at this hyperlink. 5.03% of the stock is owned by insiders.

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.