CNX Resources Corporation. $CNX Shares Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership raised its stake in CNX Resources Corporation. (NYSE:CNX) by 6,057.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,838,852 shares of the oil and gas producer’s stock after purchasing an additional 3,776,511 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in CNX Resources were worth $147,988,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Smartleaf Asset Management LLC grew 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 worth $30,000 after purchasing an additional 293 shares during the period. Farther Finance Advisors LLC increased its holdings in CNX Resources by 8.6% in the 4th quarter. Farther Finance Advisors LLC now owns 4,464 shares of the oil and gas producer’s stock valued at $164,000 after purchasing an additional 353 shares in the last quarter. Aigen Investment Management LP increased its holdings in 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 purchasing an additional 354 shares in the last quarter. Arkadios Wealth Advisors raised its position in CNX Resources by 3.2% in the fourth quarter. Arkadios Wealth Advisors now owns 13,028 shares of the oil and gas producer’s stock valued at $479,000 after purchasing an additional 400 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of 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 purchasing an additional 606 shares in the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

CNX Resources Stock Down 0.6%

CNX Resources stock opened at $34.25 on Friday. The company’s 50-day moving average price is $33.72 and its two-hundred day moving average price is $36.97. The stock has a market cap of $4.85 billion, a price-to-earnings ratio of 4.76 and a beta of 0.59. CNX Resources Corporation. has a 52 week low of $27.72 and a 52 week high of $43.62. The company has a current ratio of 0.49, a quick ratio of 0.46 and a debt-to-equity ratio of 0.47.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CNX shares. Morgan Stanley decreased 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. Truist Financial upgraded shares of CNX Resources from a “sell” rating to a “hold” rating and set a $35.00 target price for the company in a research note on Wednesday, July 15th. Weiss Ratings lowered shares of CNX Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, May 28th. Tudor Pickering raised shares of CNX Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, May 8th. Finally, Zacks Research downgraded shares of CNX Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. One 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 presently has an average rating of “Reduce” and an average target price of $35.44.

Insider Activity

In related news, Director William N. Thorndike, Jr. sold 28,800 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $38.25, for a total value of $1,101,600.00. Following the sale, the director directly owned 426,585 shares in the company, valued at $16,316,876.25. The trade was a 6.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.03% of the stock is owned by corporate 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.