Geode Capital Management LLC Cuts Stock Position in CNX Resources Corporation. $CNX

Geode Capital Management LLC lowered its holdings in CNX Resources Corporation. (NYSE:CNX) by 3.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,590,026 shares of the oil and gas producer’s stock after selling 135,342 shares during the period. Geode Capital Management LLC owned about 2.66% of CNX Resources worth $132,033,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Farther Finance Advisors LLC lifted its position in shares of CNX Resources by 8.6% during 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 buying an additional 353 shares during the last quarter. Crossmark Global Holdings Inc. lifted its position in shares of CNX Resources by 5.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 10,881 shares of the oil and gas producer’s stock valued at $349,000 after buying an additional 587 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of CNX Resources by 18.8% during the 4th quarter. GAMMA Investing LLC now owns 3,821 shares of the oil and gas producer’s stock valued at $140,000 after buying an additional 606 shares during the last quarter. Midwest Professional Planners LTD. lifted its position in shares of CNX Resources by 2.5% during the 4th quarter. Midwest Professional Planners LTD. now owns 26,449 shares of the oil and gas producer’s stock valued at $973,000 after buying an additional 642 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its position in shares of CNX Resources by 0.7% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 89,239 shares of the oil and gas producer’s stock valued at $2,900,000 after buying an additional 643 shares during the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Wall Street Analyst Weigh In

CNX has been the topic of a number of recent research reports. Zacks Research cut CNX Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Tudor Pickering raised CNX Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, May 8th. Truist Financial initiated coverage on CNX Resources in a research report on Tuesday, March 24th. They set a “sell” rating and a $35.00 price target on the stock. Mizuho dropped their price target on CNX Resources from $44.00 to $42.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 27th. Finally, Weiss Ratings cut CNX Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, May 28th. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $35.44.

CNX Resources Price Performance

CNX stock opened at $34.07 on Friday. The firm has a 50 day moving average of $37.34 and a 200-day moving average of $38.18. The company has a current ratio of 0.49, a quick ratio of 0.46 and a debt-to-equity ratio of 0.47. CNX Resources Corporation. has a 12 month low of $27.72 and a 12 month high of $43.62. The firm has a market capitalization of $4.82 billion, a P/E ratio of 4.73 and a beta of 0.58.

Insider Transactions at CNX Resources

In other CNX Resources news, Director Maureen Lally-Green sold 23,631 shares of the company’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $39.52, for a total value of $933,897.12. Following the transaction, the director directly owned 169,577 shares in the company, valued at $6,701,683.04. This represents a 12.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William N. Thorndike, Jr. sold 28,800 shares of the company’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 completion of the transaction, the director owned 426,585 shares in the company, valued at $16,316,876.25. This represents a 6.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 5.03% of the stock is owned by corporate insiders.

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.