First Trust Advisors LP Buys 434,620 Shares of CNX Resources Corporation. $CNX

First Trust Advisors LP grew its stake in shares of CNX Resources Corporation. (NYSE:CNX) by 81.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 965,371 shares of the oil and gas producer’s stock after buying an additional 434,620 shares during the period. First Trust Advisors LP owned 0.68% of CNX Resources worth $37,215,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. State of Wyoming purchased a new position in CNX Resources during the second quarter valued at approximately $29,000. Smartleaf Asset Management LLC increased its stake in shares of CNX Resources by 56.7% in the fourth 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 in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of CNX Resources in the fourth quarter worth $34,000. Kestra Advisory Services LLC bought a new stake in shares of CNX Resources during the 4th quarter valued at $50,000. Finally, Highlander Partners L.P. bought a new stake in shares of CNX Resources during the 4th quarter valued at $56,000. 95.16% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on CNX shares. Tudor Pickering raised shares of CNX Resources from a “strong sell” rating to a “hold” rating in a report on Friday, May 8th. Truist Financial raised CNX Resources from a “sell” rating to a “hold” rating and set a $35.00 price target on the stock in a report on Wednesday, July 15th. Barclays decreased their price target on CNX Resources from $36.00 to $35.00 and set an “underweight” rating on the stock in a report on Tuesday, May 26th. Mizuho lowered their price objective on CNX Resources from $44.00 to $42.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 27th. Finally, Weiss Ratings lowered CNX Resources from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, May 28th. One equities research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $35.44.

Insider Buying and Selling at CNX Resources

In other news, Director William N. 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 sale, the director directly owned 426,585 shares in the company, valued at $16,316,876.25. The trade was a 6.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 5.03% of the stock is currently owned by company insiders.

CNX Resources Trading Down 1.4%

Shares of CNX opened at $33.80 on Tuesday. The stock has a market capitalization of $4.78 billion, a PE ratio of 4.69 and a beta of 0.59. The company’s fifty day moving average is $33.66 and its 200 day moving average is $36.96. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.46 and a current ratio of 0.49. CNX Resources Corporation. has a fifty-two week low of $27.72 and a fifty-two week high of $43.62.

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.