CNX Resources Corporation. $CNX Shares Acquired by Capital Research Global Investors

Capital Research Global Investors grew its position in CNX Resources Corporation. (NYSE:CNX) by 20.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,765,039 shares of the oil and gas producer’s stock after purchasing an additional 815,039 shares during the period. Capital Research Global Investors owned approximately 3.53% of CNX Resources worth $175,210,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. State of Wyoming purchased a new stake in shares of CNX Resources during the 2nd quarter valued at about $29,000. Caitlin John LLC purchased a new stake in shares of CNX Resources during the 3rd quarter valued at about $31,000. Los Angeles Capital Management LLC purchased a new stake in shares of CNX Resources during the 4th quarter valued at about $34,000. Highlander Partners L.P. purchased a new stake in shares of CNX Resources during the 4th quarter valued at about $56,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of CNX Resources by 393.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,925 shares of the oil and gas producer’s stock valued at $65,000 after buying an additional 1,535 shares during the period. 95.16% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at CNX Resources

In other news, Director William N. Thorndike, Jr. sold 28,800 shares of the company’s stock in a transaction 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 completion of 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Maureen Lally-Green sold 23,631 shares of the company’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $39.52, for a total value of $933,897.12. Following the completion of the sale, the director owned 169,577 shares of the company’s stock, valued at approximately $6,701,683.04. This trade represents a 12.23% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 5.03% of the company’s stock.

Analysts Set New Price Targets

CNX has been the topic of several analyst reports. Weiss Ratings downgraded CNX Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, May 28th. Zacks Research downgraded CNX Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Morgan Stanley restated an “underweight” rating on shares of CNX Resources in a report on Friday, March 27th. Truist Financial assumed coverage on CNX Resources in a report on Tuesday, March 24th. They set a “sell” rating and a $35.00 price objective on the stock. Finally, Barclays dropped their price objective on CNX Resources from $36.00 to $35.00 and set an “underweight” rating on the stock in a report on Tuesday, May 26th. One research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $35.44.

CNX Resources Price Performance

Shares of CNX opened at $33.52 on Tuesday. The company has a market cap of $4.74 billion, a P/E ratio of 4.66 and a beta of 0.58. The stock has a fifty day moving average price of $37.07 and a 200 day moving average price of $38.14. 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.

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.