Vanguard Group Inc. Has $496.27 Million Position in CNX Resources Corporation. $CNX

Vanguard Group Inc. lessened its position in CNX Resources Corporation. (NYSE:CNX) by 6.6% in the 4th quarter, Holdings Channel reports. The firm owned 13,496,574 shares of the oil and gas producer’s stock after selling 957,110 shares during the period. Vanguard Group Inc. owned 0.10% of CNX Resources worth $496,269,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Farther Finance Advisors LLC grew its holdings in shares of CNX Resources by 8.6% in the 4th quarter. Farther Finance Advisors LLC now owns 4,464 shares of the oil and gas producer’s stock valued at $164,000 after buying an additional 353 shares during the period. Crossmark Global Holdings Inc. raised its stake in CNX Resources by 5.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 10,881 shares of the oil and gas producer’s stock worth $349,000 after buying an additional 587 shares during the period. GAMMA Investing LLC lifted its holdings in CNX Resources by 18.8% during the fourth quarter. GAMMA Investing LLC now owns 3,821 shares of the oil and gas producer’s stock worth $140,000 after acquiring an additional 606 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in CNX Resources by 0.7% during the third quarter. CANADA LIFE ASSURANCE Co now owns 89,239 shares of the oil and gas producer’s stock worth $2,900,000 after acquiring an additional 643 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. grew its stake in CNX Resources by 5.0% in the third quarter. Resona Asset Management Co. Ltd. now owns 14,002 shares of the oil and gas producer’s stock valued at $450,000 after acquiring an additional 670 shares during the period. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on CNX. Truist Financial assumed coverage on CNX Resources in a research report on Tuesday, March 24th. They set a “sell” rating and a $35.00 price target on the stock. Piper Sandler set a $26.00 price objective on CNX Resources in a research report on Monday, February 2nd. Weiss Ratings raised CNX Resources from a “hold (c)” rating to a “buy (b)” rating in a research note on Wednesday, February 11th. Morgan Stanley restated an “underweight” rating on shares of CNX Resources in a report on Friday, March 27th. Finally, Roth Mkm set a $35.00 price target on shares of CNX Resources and gave the company a “neutral” rating in a report on Thursday, January 29th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $35.67.

CNX Resources Stock Down 0.7%

Shares of CNX stock opened at $38.06 on Wednesday. The firm’s fifty day moving average price is $39.80 and its two-hundred day moving average price is $37.97. The company has a current ratio of 0.49, a quick ratio of 0.46 and a debt-to-equity ratio of 0.47. CNX Resources Corporation. has a 1 year low of $27.72 and a 1 year high of $43.62. The firm has a market capitalization of $5.38 billion, a P/E ratio of 5.29, a PEG ratio of 0.41 and a beta of 0.64.

Insider Activity

In related news, Director Bernard Lanigan, Jr. sold 46,119 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $40.60, for a total transaction of $1,872,431.40. Following the completion of the transaction, the director directly owned 177,180 shares of the company’s stock, valued at approximately $7,193,508. This represents a 20.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Maureen Lally-Green sold 23,631 shares of the firm’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $39.52, for a total value of $933,897.12. Following the completion of the transaction, the director owned 169,577 shares of the company’s stock, valued at approximately $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 owned by company insiders.

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.