Legal & General Group Plc Reduces Holdings in CNX Resources Corporation. $CNX

Legal & General Group Plc trimmed its holdings in shares of CNX Resources Corporation. (NYSE:CNX) by 9.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 208,061 shares of the oil and gas producer’s stock after selling 21,426 shares during the period. Legal & General Group Plc owned about 0.15% of CNX Resources worth $7,650,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. State of Wyoming purchased a new stake in CNX Resources in the 2nd quarter worth approximately $29,000. Caitlin John LLC purchased a new stake in CNX Resources in the 3rd quarter worth approximately $31,000. Highlander Partners L.P. purchased a new stake in CNX Resources in the 4th quarter worth approximately $56,000. EverSource Wealth Advisors LLC grew its stake in CNX Resources by 393.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,925 shares of the oil and gas producer’s stock worth $65,000 after acquiring an additional 1,535 shares during the period. Finally, Hantz Financial Services Inc. grew its stake in CNX Resources by 462.7% in the 3rd quarter. Hantz Financial Services Inc. now owns 2,954 shares of the oil and gas producer’s stock worth $95,000 after acquiring an additional 2,429 shares during the period. 95.16% of the stock is owned by hedge funds and other institutional investors.

CNX Resources Stock Down 1.5%

Shares of NYSE CNX opened at $33.53 on Friday. CNX Resources Corporation. has a 52-week low of $27.72 and a 52-week high of $43.62. The firm has a fifty day moving average of $37.21 and a 200-day moving average of $38.15. The stock has a market capitalization of $4.74 billion, a PE ratio of 4.66 and a beta of 0.58. The company has a quick ratio of 0.46, a current ratio of 0.49 and a debt-to-equity ratio of 0.47.

Insider Activity

In other news, Director Maureen Lally-Green sold 23,631 shares of the business’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $39.52, for a total transaction of $933,897.12. Following the completion of the sale, the director owned 169,577 shares in the company, valued at approximately $6,701,683.04. The trade was a 12.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $1,101,600.00. Following the sale, the director owned 426,585 shares of the company’s stock, valued at $16,316,876.25. The trade was a 6.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 5.03% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on CNX. Weiss Ratings cut shares of CNX Resources from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, May 28th. Zacks Research cut shares of CNX Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Truist Financial began coverage on shares of CNX Resources in a research note on Tuesday, March 24th. They issued a “sell” rating and a $35.00 target price for the company. Tudor Pickering raised shares of CNX Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, May 8th. Finally, Barclays lowered their target price on shares of CNX Resources from $36.00 to $35.00 and set an “underweight” rating for the company in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average target price 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.