SG Americas Securities LLC Lowers Stock Holdings in CNX Resources Corporation. $CNX

SG Americas Securities LLC lowered its position in CNX Resources Corporation. (NYSE:CNX) by 53.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 83,788 shares of the oil and gas producer’s stock after selling 95,339 shares during the period. SG Americas Securities LLC’s holdings in CNX Resources were worth $3,230,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. American Century Companies Inc. lifted its position in shares of CNX Resources by 16.3% in the third quarter. American Century Companies Inc. now owns 3,236,441 shares of the oil and gas producer’s stock valued at $103,954,000 after acquiring an additional 454,071 shares in the last quarter. Pullen Investment Management LLC grew its position in shares of CNX Resources by 76.3% during the fourth quarter. Pullen Investment Management LLC now owns 68,083 shares of the oil and gas producer’s stock worth $2,503,000 after purchasing an additional 29,469 shares in the last quarter. Capital Research Global Investors grew its position in shares of 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 purchasing an additional 1,100,000 shares in the last quarter. Ossiam grew its position in shares of CNX Resources by 116.9% during the third quarter. Ossiam now owns 672,400 shares of the oil and gas producer’s stock worth $21,597,000 after purchasing an additional 362,400 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in CNX Resources by 3,227.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 90,603 shares of the oil and gas producer’s stock valued at $3,331,000 after purchasing an additional 87,880 shares during the period. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Insider Buying and Selling at CNX Resources

In related news, Director William N. Thorndike, Jr. sold 28,800 shares of the business’s stock in a transaction on 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 5.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CNX. Truist Financial began coverage on CNX Resources in a report on Tuesday, March 24th. They issued a “sell” rating and a $35.00 price target on the stock. Zacks Research lowered shares of CNX Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Weiss Ratings cut shares of CNX Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, May 28th. Barclays lowered their target price on shares of CNX Resources from $36.00 to $35.00 and set an “underweight” rating on the stock in a report on Tuesday, May 26th. Finally, Tudor Pickering upgraded shares of CNX Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, May 8th. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $35.44.

CNX Resources Stock Performance

NYSE CNX opened at $33.92 on Wednesday. The stock has a market capitalization of $4.80 billion, a PE ratio of 4.71 and a beta of 0.58. The business has a 50 day simple moving average of $35.18 and a two-hundred day simple moving average of $37.50. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.49 and a quick ratio of 0.46. CNX Resources Corporation. has a 1-year low of $27.72 and a 1-year high of $43.62.

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.