Intech Investment Management LLC Has $5.86 Million Position in CNX Resources Corporation. $CNX

Intech Investment Management LLC reduced its stake in shares of CNX Resources Corporation. (NYSE:CNX) by 12.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 159,410 shares of the oil and gas producer’s stock after selling 23,185 shares during the quarter. Intech Investment Management LLC owned 0.12% of CNX Resources worth $5,862,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CNX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in CNX Resources by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 86,878 shares of the oil and gas producer’s stock worth $2,735,000 after acquiring an additional 3,785 shares in the last quarter. Acadian Asset Management LLC acquired a new position in CNX Resources during the first quarter worth $583,000. EverSource Wealth Advisors LLC raised its stake in CNX Resources by 393.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,925 shares of the oil and gas producer’s stock worth $65,000 after acquiring an additional 1,535 shares in the last quarter. Marshall Wace LLP acquired a new position in CNX Resources during the second quarter worth $272,000. Finally, Cerity Partners LLC acquired a new position in CNX Resources during the second quarter worth $236,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

CNX Resources Stock Performance

Shares of NYSE:CNX opened at $33.73 on Friday. CNX Resources Corporation. has a twelve month low of $27.72 and a twelve month high of $43.62. The firm has a market cap of $4.77 billion, a PE ratio of 4.68 and a beta of 0.64. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.46 and a current ratio of 0.49. The business has a fifty day moving average of $37.90 and a 200-day moving average of $38.27.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Weiss Ratings lowered CNX Resources from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday. Mizuho dropped their price objective on CNX Resources from $44.00 to $42.00 and set a “neutral” rating for the company in a research note on Wednesday. Piper Sandler set a $26.00 price objective on CNX Resources in a research note on Monday, February 2nd. Barclays lowered their target price on CNX Resources from $36.00 to $35.00 and set an “underweight” rating for the company in a research note on Tuesday, May 26th. Finally, Truist Financial began coverage on CNX Resources in a research note on Tuesday, March 24th. They issued a “sell” rating and a $35.00 target price for the company. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $35.44.

Insiders Place Their Bets

In other news, Director Maureen Lally-Green sold 23,631 shares of the firm’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $39.52, for a total value of $933,897.12. Following the completion of the sale, the director directly owned 169,577 shares in the company, valued at approximately $6,701,683.04. This trade represents a 12.23% 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 William N. Thorndike, Jr. sold 28,800 shares of the firm’s stock in a transaction 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 completion of the sale, the director owned 426,585 shares of the company’s stock, valued at approximately $16,316,876.25. This trade represents a 6.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 5.03% of the company’s stock.

CNX Resources 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.