Hsbc Holdings PLC Purchases 19,508 Shares of CNX Resources Corporation. $CNX

Hsbc Holdings PLC increased its position in shares of CNX Resources Corporation. (NYSE:CNX) by 63.2% in the first quarter, Holdings Channel.com reports. The firm owned 50,359 shares of the oil and gas producer’s stock after purchasing an additional 19,508 shares during the quarter. Hsbc Holdings PLC’s holdings in CNX Resources were worth $1,971,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CNX. State of Wyoming purchased a new stake in shares of CNX Resources in the second quarter worth approximately $29,000. Smartleaf Asset Management LLC boosted its holdings in CNX Resources by 56.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 810 shares of the oil and gas producer’s stock valued at $30,000 after acquiring an additional 293 shares during the period. Los Angeles Capital Management LLC purchased a new position in CNX Resources during the 4th quarter valued at $34,000. Kestra Advisory Services LLC bought a new position in CNX Resources in the 4th quarter valued at $50,000. Finally, Highlander Partners L.P. bought a new position in CNX Resources in the 4th quarter valued at $56,000. 95.16% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CNX shares. Tudor Pickering raised shares of CNX Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, May 8th. Barclays lowered their price objective on shares of CNX Resources from $36.00 to $35.00 and set an “underweight” rating for the company in a research report on Tuesday, May 26th. Mizuho dropped their target price on shares of CNX Resources from $44.00 to $42.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 27th. Morgan Stanley reduced their target price on shares of CNX Resources from $34.00 to $32.00 and set an “underweight” rating on the stock in a research report on Monday, June 29th. Finally, Weiss Ratings lowered CNX Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, May 28th. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $35.44.

Insider Transactions at CNX Resources

In other CNX Resources news, Director William N. Thorndike, Jr. sold 28,800 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $38.25, for a total transaction of $1,101,600.00. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.03% of the stock is currently owned by insiders.

CNX Resources Stock Performance

Shares of CNX Resources stock opened at $34.25 on Monday. The company has a current ratio of 0.49, a quick ratio of 0.46 and a debt-to-equity ratio of 0.47. The stock’s fifty day moving average price is $33.72 and its 200-day moving average price is $36.98. The firm has a market cap of $4.85 billion, a P/E ratio of 4.76 and a beta of 0.59. CNX Resources Corporation. has a 12 month low of $27.72 and a 12 month high of $43.62.

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.