Caxton Associates LLP Grows Position in CNX Resources Corporation. $CNX

Caxton Associates LLP raised its holdings in CNX Resources Corporation. (NYSE:CNX) by 99.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 155,831 shares of the oil and gas producer’s stock after acquiring an additional 77,571 shares during the quarter. Caxton Associates LLP owned 0.11% of CNX Resources worth $6,007,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. State of Wyoming purchased a new position in shares of CNX Resources in the 2nd quarter valued at about $29,000. Smartleaf Asset Management LLC boosted its holdings in 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 buying an additional 293 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in CNX Resources during the fourth quarter worth about $34,000. Kestra Advisory Services LLC acquired a new position in CNX Resources during the fourth quarter worth about $50,000. Finally, Highlander Partners L.P. purchased a new position in CNX Resources in the fourth quarter valued at about $56,000. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

CNX Resources Stock Performance

Shares of CNX stock opened at $34.43 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.46 and a current ratio of 0.49. The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of 4.78 and a beta of 0.59. CNX Resources Corporation. has a one year low of $27.72 and a one year high of $43.62. The company has a 50 day moving average price of $33.76 and a 200 day moving average price of $36.99.

Insider Buying and Selling at CNX Resources

In other news, Director William N. Thorndike, Jr. sold 28,800 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $38.25, for a total transaction of $1,101,600.00. Following the completion of the sale, the director owned 426,585 shares in the company, valued at approximately $16,316,876.25. The trade was a 6.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.03% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CNX. Morgan Stanley reduced their price target on shares of CNX Resources from $34.00 to $32.00 and set an “underweight” rating for the company in a research report on Monday, June 29th. Zacks Research cut CNX Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Truist Financial upgraded shares of CNX Resources from a “sell” rating to a “hold” rating and set a $35.00 price objective on the stock in a research report on Wednesday, July 15th. Mizuho dropped their target price on shares of CNX Resources from $44.00 to $42.00 and set a “neutral” rating for the company in a report on Wednesday, May 27th. Finally, Tudor Pickering raised shares of CNX Resources from a “strong sell” rating to a “hold” rating in a report on Friday, May 8th. One research analyst has rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock 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.