William Thorndike, Jr. Sells 28,800 Shares of CNX Resources (NYSE:CNX) Stock

CNX Resources Corporation. (NYSE:CNX) Director William Thorndike, Jr. sold 28,800 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $38.25, for a total value of $1,101,600.00. Following the completion of the transaction, the director owned 426,585 shares in the company, valued at $16,316,876.25. This trade represents a 6.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

CNX Resources Stock Down 3.9%

NYSE CNX traded down $1.47 on Wednesday, reaching $36.55. The stock had a trading volume of 2,096,912 shares, compared to its average volume of 2,256,118. The business has a 50 day moving average price of $39.80 and a 200 day moving average price of $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 company has a market capitalization of $5.17 billion, a price-to-earnings ratio of 5.08, a P/E/G ratio of 0.41 and a beta of 0.64.

Hedge Funds Weigh In On CNX Resources

Large investors have recently made changes to their positions in the business. Smartleaf Asset Management LLC lifted its position in shares of CNX Resources by 56.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 810 shares of the oil and gas producer’s stock worth $30,000 after purchasing an additional 293 shares during the last quarter. State of Wyoming acquired a new position in shares of CNX Resources during the 2nd quarter worth about $29,000. Los Angeles Capital Management LLC acquired a new position in shares of CNX Resources during the 4th quarter worth about $34,000. Caitlin John LLC acquired a new position in shares of CNX Resources during the 3rd quarter worth about $31,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of CNX Resources during the 4th quarter worth about $50,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CNX. Zacks Research cut CNX Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Roth Mkm set a $35.00 price target on CNX Resources and gave the stock a “neutral” rating in a research report on Thursday, January 29th. Morgan Stanley reaffirmed an “underweight” rating on shares of CNX Resources in a research report on Friday, March 27th. Scotiabank reaffirmed a “sector perform” rating and issued a $44.00 price target on shares of CNX Resources in a research report on Wednesday, January 21st. Finally, Piper Sandler set a $26.00 price target on CNX Resources in a research report on Monday, February 2nd. One equities 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 company. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $35.67.

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.