NewEdge Advisors LLC Lowers Holdings in CNX Resources Corporation. $CNX

NewEdge Advisors LLC trimmed its holdings in CNX Resources Corporation. (NYSE:CNX) by 30.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 71,294 shares of the oil and gas producer’s stock after selling 30,997 shares during the quarter. NewEdge Advisors LLC’s holdings in CNX Resources were worth $2,748,000 as of its most recent SEC filing.

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

CNX Resources Stock Performance

CNX Resources stock opened at $35.36 on Friday. The company’s 50-day moving average price is $33.82 and its 200-day moving average price is $36.88. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 0.46. The company has a market cap of $5.23 billion, a PE ratio of 5.90 and a beta of 0.60. CNX Resources Corporation. has a twelve month low of $27.72 and a twelve month high of $43.62.

Analyst Ratings Changes

CNX has been the topic of several research analyst reports. Weiss Ratings cut shares of CNX Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, July 28th. Zacks Research cut CNX Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Barclays decreased their target price 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. Truist Financial upgraded CNX Resources from a “sell” rating to a “hold” rating and set a $35.00 price target for the company in a report on Wednesday, July 15th. Finally, Morgan Stanley reduced their price objective on CNX Resources from $34.00 to $32.00 and set an “underweight” rating on the stock in a research note on Monday, June 29th. Nine research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $35.44.

About CNX Resources

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.