CNX Resources Corporation. $CNX Holdings Trimmed by LSV Asset Management

LSV Asset Management trimmed its position in shares of CNX Resources Corporation. (NYSE:CNX) by 73.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 167,000 shares of the oil and gas producer’s stock after selling 465,500 shares during the period. LSV Asset Management’s holdings in CNX Resources were worth $6,141,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CNX. Farther Finance Advisors LLC increased its stake in CNX Resources by 8.6% in the fourth quarter. Farther Finance Advisors LLC now owns 4,464 shares of the oil and gas producer’s stock valued at $164,000 after acquiring an additional 353 shares during the period. Crossmark Global Holdings Inc. increased its stake in CNX Resources by 5.7% in the third quarter. Crossmark Global Holdings Inc. now owns 10,881 shares of the oil and gas producer’s stock valued at $349,000 after acquiring an additional 587 shares during the period. GAMMA Investing LLC increased its stake in CNX Resources by 18.8% in the fourth quarter. GAMMA Investing LLC now owns 3,821 shares of the oil and gas producer’s stock valued at $140,000 after acquiring an additional 606 shares during the period. Midwest Professional Planners LTD. increased its stake in CNX Resources by 2.5% in the fourth quarter. Midwest Professional Planners LTD. now owns 26,449 shares of the oil and gas producer’s stock valued at $973,000 after acquiring an additional 642 shares during the period. Finally, CANADA LIFE ASSURANCE Co increased its stake in CNX Resources by 0.7% in the third quarter. CANADA LIFE ASSURANCE Co now owns 89,239 shares of the oil and gas producer’s stock valued at $2,900,000 after acquiring an additional 643 shares during the period. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other CNX Resources news, Director William N. Thorndike, Jr. sold 28,800 shares of the company’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 sale, the director directly owned 426,585 shares of the company’s stock, valued at approximately $16,316,876.25. This represents a 6.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $933,897.12. Following the sale, the director directly owned 169,577 shares in the company, valued at $6,701,683.04. This represents a 12.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 5.03% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CNX shares. Weiss Ratings reissued a “buy (b)” rating on shares of CNX Resources in a research note on Monday, May 11th. Piper Sandler set a $26.00 target price on shares of CNX Resources in a research note on Monday, February 2nd. Truist Financial began coverage on shares of CNX Resources in a research note on Tuesday, March 24th. They issued a “sell” rating and a $35.00 target price on the stock. Zacks Research cut shares of CNX Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Finally, Barclays upped their price objective on shares of CNX Resources from $35.00 to $36.00 and gave the stock an “underweight” rating in a research note on Monday, March 16th. 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 company. According to MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $35.67.

CNX Resources Price Performance

Shares of CNX Resources stock opened at $34.72 on Wednesday. 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 has a market capitalization of $4.91 billion, a price-to-earnings ratio of 4.82 and a beta of 0.64. CNX Resources Corporation. has a 1-year low of $27.72 and a 1-year high of $43.62. The firm’s 50-day moving average price is $38.37 and its two-hundred day moving average price is $38.31.

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.