CNX Resources Corporation. $CNX Holdings Raised by Capital Research Global Investors

Capital Research Global Investors grew its stake in shares of CNX Resources Corporation. (NYSE:CNX) by 20.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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’ holdings in CNX Resources were worth $175,210,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CNX. State of Wyoming acquired a new position in CNX Resources during the second quarter valued at $29,000. Caitlin John LLC acquired a new position in CNX Resources during the third quarter valued at $31,000. Los Angeles Capital Management LLC acquired a new position in CNX Resources during the fourth quarter valued at $34,000. Highlander Partners L.P. acquired a new position in CNX Resources during the fourth quarter valued at $56,000. Finally, EverSource Wealth Advisors LLC raised its position 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 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.

CNX Resources Stock Performance

Shares of CNX stock opened at $33.52 on Tuesday. 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 fifty-two week low of $27.72 and a fifty-two week high of $43.62. The stock’s 50-day moving average is $37.07 and its two-hundred day moving average is $38.14. The firm has a market cap of $4.74 billion, a P/E ratio of 4.66 and a beta of 0.58.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Tudor Pickering raised CNX Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, May 8th. Morgan Stanley reissued an “underweight” rating on shares of CNX Resources in a research report on Friday, March 27th. 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. Barclays dropped their price target on CNX Resources from $36.00 to $35.00 and set an “underweight” rating on the stock in a research report on Tuesday, May 26th. Finally, Zacks Research lowered CNX Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, CNX Resources presently has a consensus rating of “Reduce” and a consensus price target of $35.44.

Insider Activity

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 of the company’s stock, valued at $6,701,683.04. This represents a 12.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 directly owned 426,585 shares in the company, valued at approximately $16,316,876.25. The trade was a 6.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 5.03% of the company’s stock.

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.