Indivisible Partners Takes Position in CNX Resources Corporation. $CNX

Indivisible Partners bought a new stake in CNX Resources Corporation. (NYSE:CNX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 18,166 shares of the oil and gas producer’s stock, valued at approximately $668,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Capital Research Global Investors increased its holdings in shares of CNX Resources by 38.6% in the third quarter. Capital Research Global Investors now owns 3,950,000 shares of the oil and gas producer’s stock valued at $126,874,000 after purchasing an additional 1,100,000 shares during the last quarter. American Century Companies Inc. increased its stake in CNX Resources by 16.3% during the third quarter. American Century Companies Inc. now owns 3,236,441 shares of the oil and gas producer’s stock worth $103,954,000 after acquiring an additional 454,071 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its stake in CNX Resources by 16.7% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,400,000 shares of the oil and gas producer’s stock worth $47,152,000 after acquiring an additional 200,000 shares during the last quarter. Balyasny Asset Management L.P. increased its stake in CNX Resources by 601.8% during the third quarter. Balyasny Asset Management L.P. now owns 1,105,456 shares of the oil and gas producer’s stock worth $35,507,000 after acquiring an additional 947,931 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in CNX Resources by 9.5% during the third quarter. AQR Capital Management LLC now owns 1,102,778 shares of the oil and gas producer’s stock worth $35,421,000 after acquiring an additional 95,292 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

CNX Resources Stock Performance

Shares of CNX stock opened at $36.55 on Thursday. The stock has a market capitalization of $5.17 billion, a PE ratio of 5.08, a price-to-earnings-growth ratio of 0.41 and a beta of 0.64. CNX Resources Corporation. has a 52-week low of $27.72 and a 52-week high of $43.62. The stock’s 50-day moving average price is $39.76 and its 200 day moving average price is $38.00. The company has a quick ratio of 0.46, a current ratio of 0.49 and a debt-to-equity ratio of 0.47.

Insiders Place Their Bets

In other CNX Resources news, Director William N. Thorndike, Jr. sold 28,800 shares of the business’s stock in a transaction that occurred on 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Maureen Lally-Green sold 23,631 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $39.52, for a total value of $933,897.12. Following the transaction, the director owned 169,577 shares in the company, valued at $6,701,683.04. The trade was a 12.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 98,550 shares of company stock worth $3,907,929. Company insiders own 5.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CNX shares. Barclays lifted their price objective on CNX Resources from $35.00 to $36.00 and gave the company an “underweight” rating in a research note on Monday, March 16th. Roth Mkm set a $35.00 target price on CNX Resources and gave the company a “neutral” rating in a report on Thursday, January 29th. Truist Financial started coverage on CNX Resources in a report on Tuesday, March 24th. They issued a “sell” rating and a $35.00 target price for the company. Weiss Ratings upgraded CNX Resources from a “hold (c)” rating to a “buy (b)” rating in a report on Wednesday, February 11th. Finally, Morgan Stanley reaffirmed an “underweight” rating on shares of CNX Resources in a report on Friday, March 27th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $35.67.

CNX Resources 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.