Stonegate Investment Group LLC Purchases New Stake in CNX Resources Co. (NYSE:CNX)

Stonegate Investment Group LLC purchased a new stake in CNX Resources Co. (NYSE:CNX) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 6,336 shares of the oil and gas producer’s stock, valued at approximately $232,000.

Several other hedge funds have also added to or reduced their stakes in CNX. Algert Global LLC bought a new position in CNX Resources in the second quarter valued at about $375,000. Creative Planning boosted its holdings in CNX Resources by 9.8% during the second quarter. Creative Planning now owns 31,265 shares of the oil and gas producer’s stock worth $760,000 after buying an additional 2,779 shares during the last quarter. SG Americas Securities LLC boosted its holdings in CNX Resources by 829.9% during the third quarter. SG Americas Securities LLC now owns 42,982 shares of the oil and gas producer’s stock worth $1,400,000 after buying an additional 38,360 shares during the last quarter. GAMMA Investing LLC boosted its holdings in CNX Resources by 62.1% during the third quarter. GAMMA Investing LLC now owns 3,073 shares of the oil and gas producer’s stock worth $100,000 after buying an additional 1,177 shares during the last quarter. Finally, Atomi Financial Group Inc. bought a new position in CNX Resources during the third quarter worth about $202,000. Institutional investors own 95.16% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Truist Financial raised their target price on CNX Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Stephens raised their target price on CNX Resources from $26.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Capital One Financial cut CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 target price on the stock. in a report on Monday, October 14th. TD Cowen assumed coverage on CNX Resources in a report on Wednesday, January 15th. They set a “hold” rating and a $27.00 price objective on the stock. Finally, Mizuho cut their price objective on CNX Resources from $38.00 to $34.00 and set an “underperform” rating on the stock in a report on Tuesday, January 14th. Nine research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $29.67.

Insider Activity at CNX Resources

In related news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of CNX Resources stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $31.09, for a total value of $33,421,750.00. Following the sale, the insider now owns 13,925,000 shares of the company’s stock, valued at approximately $432,928,250. This trade represents a 7.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.10% of the stock is owned by insiders.

CNX Resources Stock Down 0.2 %

Shares of CNX Resources stock opened at $27.74 on Thursday. The business’s 50 day simple moving average is $34.89 and its 200 day simple moving average is $32.18. CNX Resources Co. has a 52-week low of $19.07 and a 52-week high of $41.93. The firm has a market cap of $4.14 billion, a PE ratio of 8.72, a P/E/G ratio of 0.47 and a beta of 1.42. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.37.

About CNX Resources

CNX Resources Corporation, an independent natural gas and midstream company, engages in the acquisition, exploration, development, and production of natural gas properties in the Appalachian Basin. The company operates in two segments, Shale and Coalbed Methane (CBM). It produces and sells pipeline quality natural gas primarily for gas wholesalers.