Vise Technologies Inc. Decreases Stock Holdings in CNX Resources Co. (NYSE:CNX)

Vise Technologies Inc. decreased its holdings in CNX Resources Co. (NYSE:CNX) by 26.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 11,545 shares of the oil and gas producer’s stock after selling 4,132 shares during the period. Vise Technologies Inc.’s holdings in CNX Resources were worth $423,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of CNX. Bessemer Group Inc. increased its position in shares of CNX Resources by 131.5% during the 4th quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 526 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of CNX Resources during the 4th quarter valued at approximately $39,000. VSM Wealth Advisory LLC bought a new position in CNX Resources in the 4th quarter worth approximately $55,000. Principal Securities Inc. boosted its stake in CNX Resources by 38.5% in the 4th quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer’s stock worth $91,000 after purchasing an additional 691 shares during the period. Finally, Blue Trust Inc. boosted its stake in CNX Resources by 65.1% in the 4th quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer’s stock worth $119,000 after purchasing an additional 1,280 shares during the period. Hedge funds and other institutional investors own 95.16% of the company’s stock.

CNX Resources Stock Performance

NYSE:CNX opened at $31.65 on Tuesday. The stock’s fifty day moving average is $30.83 and its 200 day moving average is $32.43. CNX Resources Co. has a fifty-two week low of $23.63 and a fifty-two week high of $41.93. The firm has a market capitalization of $4.58 billion, a PE ratio of -46.54, a PEG ratio of 0.42 and a beta of 0.62. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.32 and a current ratio of 0.33.

Insider Activity at CNX Resources

In related news, Director J. Palmer Clarkson purchased 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were bought at an average price of $31.20 per share, for a total transaction of $312,000.00. Following the acquisition, the director now owns 245,433 shares of the company’s stock, valued at approximately $7,657,509.60. This represents a 4.25% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CNX has been the subject of several recent analyst reports. Mizuho upped their price target on CNX Resources from $35.00 to $36.00 and gave the stock an “underperform” rating in a research note on Tuesday, May 13th. Stephens upgraded CNX Resources from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $35.00 to $48.00 in a research report on Tuesday, March 18th. Morgan Stanley reiterated an “underweight” rating and set a $31.00 target price on shares of CNX Resources in a research report on Tuesday, April 15th. Bank of America lowered their target price on CNX Resources from $32.00 to $27.00 and set an “underperform” rating for the company in a research report on Tuesday, April 1st. Finally, Wall Street Zen downgraded CNX Resources from a “hold” rating to a “sell” rating in a research report on Thursday, February 13th. Eight equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $31.58.

CNX Resources Company Profile

CNX Resources Corporation, an independent natural gas and midstream company, engages in the acquisition, exploration, development, and production of natural gas properties in the Appalachian Basin. The company operates in two segments, Shale and Coalbed Methane (CBM). It produces and sells pipeline quality natural gas primarily for gas wholesalers.