Y Intercept Hong Kong Ltd Lowers Position in CNX Resources Corporation. $CNX

Y Intercept Hong Kong Ltd trimmed its position in shares of CNX Resources Corporation. (NYSE:CNX) by 26.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,498 shares of the oil and gas producer’s stock after selling 24,046 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in CNX Resources were worth $2,525,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Pullen Investment Management LLC lifted its holdings in shares of CNX Resources by 76.3% in the 4th quarter. Pullen Investment Management LLC now owns 68,083 shares of the oil and gas producer’s stock valued at $2,503,000 after buying an additional 29,469 shares during the period. Capital Research Global Investors grew its holdings in CNX Resources by 38.6% during the third quarter. Capital Research Global Investors now owns 3,950,000 shares of the oil and gas producer’s stock worth $126,874,000 after acquiring an additional 1,100,000 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in CNX Resources by 3,227.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 90,603 shares of the oil and gas producer’s stock worth $3,331,000 after acquiring an additional 87,880 shares in the last quarter. Ossiam raised its position in CNX Resources by 116.9% in the third quarter. Ossiam now owns 672,400 shares of the oil and gas producer’s stock worth $21,597,000 after acquiring an additional 362,400 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in CNX Resources by 408.1% in the fourth quarter. SG Americas Securities LLC now owns 179,127 shares of the oil and gas producer’s stock valued at $6,586,000 after acquiring an additional 143,870 shares during the period. 95.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CNX shares. Mizuho decreased their price objective on shares of CNX Resources from $44.00 to $42.00 and set a “neutral” rating on the stock in a report on Wednesday, May 27th. 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 on the stock. Barclays dropped their price target on CNX Resources from $36.00 to $35.00 and set an “underweight” rating for the company in a research report on Tuesday, May 26th. Tudor Pickering upgraded shares of CNX Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, May 8th. Finally, Weiss Ratings downgraded shares of CNX Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, CNX Resources has a consensus rating of “Reduce” and a consensus target price of $35.44.

Insider Buying and Selling

In related news, Director William N. Thorndike, Jr. sold 28,800 shares of the 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 transaction, the director directly owned 426,585 shares in the company, valued at approximately $16,316,876.25. This represents a 6.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 5.03% of the company’s stock.

CNX Resources Trading Down 0.3%

Shares of CNX opened at $33.29 on Wednesday. CNX Resources Corporation. has a fifty-two week low of $27.72 and a fifty-two week high of $43.62. The company has a market capitalization of $4.71 billion, a PE ratio of 4.62 and a beta of 0.59. The stock has a fifty day moving average of $34.71 and a two-hundred day moving average of $37.32. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.46 and a current ratio of 0.49.

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.