Connor Clark & Lunn Investment Management Ltd. Reduces Stock Position in CNX Resources Corporation. $CNX

Connor Clark & Lunn Investment Management Ltd. decreased its position in shares of CNX Resources Corporation. (NYSE:CNX) by 2.3% during the 2nd quarter, Holdings Channel.com reports. The fund owned 399,646 shares of the oil and gas producer’s stock after selling 9,583 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in CNX Resources were worth $13,460,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CNX. Ameritas Advisory Services LLC purchased a new stake in CNX Resources during the second quarter worth $32,000. CWM LLC raised its position in CNX Resources by 26.0% during the second quarter. CWM LLC now owns 3,405 shares of the oil and gas producer’s stock worth $115,000 after acquiring an additional 703 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of CNX Resources in the second quarter valued at approximately $115,000. GAMMA Investing LLC raised its position in shares of CNX Resources by 11.5% during the 2nd quarter. GAMMA Investing LLC now owns 3,760 shares of the oil and gas producer’s stock worth $127,000 after purchasing an additional 389 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in CNX Resources by 30.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 3,838 shares of the oil and gas producer’s stock valued at $129,000 after buying an additional 907 shares in the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

CNX Resources Price Performance

CNX stock opened at $37.44 on Wednesday. The company has a market cap of $5.05 billion, a PE ratio of 63.45, a price-to-earnings-growth ratio of 0.35 and a beta of 0.56. The company has a current ratio of 0.33, a quick ratio of 0.30 and a debt-to-equity ratio of 0.56. The stock has a 50-day moving average price of $32.10 and a two-hundred day moving average price of $31.65. CNX Resources Corporation. has a 12-month low of $27.00 and a 12-month high of $41.93.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CNX. Piper Sandler reduced their price objective on CNX Resources from $26.00 to $24.00 and set an “underweight” rating on the stock in a research report on Thursday, August 14th. Zacks Research upgraded shares of CNX Resources from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Mizuho upped their price objective on shares of CNX Resources from $34.00 to $35.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Scotiabank boosted their price target on CNX Resources from $35.00 to $36.00 and gave the company a “sector perform” rating in a report on Thursday, October 9th. Finally, Barclays raised their price objective on CNX Resources from $32.00 to $34.00 and gave the stock an “equal weight” rating in a report on Friday, October 31st. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $32.67.

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.