Advisors Preferred LLC Has $1.43 Million Position in CNX Resources Corporation. (NYSE:CNX)

Advisors Preferred LLC reduced its stake in CNX Resources Corporation. (NYSE:CNX) by 1.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 44,727 shares of the oil and gas producer’s stock after selling 794 shares during the quarter. Advisors Preferred LLC’s holdings in CNX Resources were worth $1,425,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Northern Trust Corp increased its position in CNX Resources by 20.5% in the 4th quarter. Northern Trust Corp now owns 2,421,387 shares of the oil and gas producer’s stock worth $88,792,000 after buying an additional 411,485 shares during the period. Woodline Partners LP bought a new stake in shares of CNX Resources during the fourth quarter valued at approximately $71,971,000. Capital Research Global Investors increased its position in shares of CNX Resources by 31.8% during the fourth quarter. Capital Research Global Investors now owns 1,450,000 shares of the oil and gas producer’s stock valued at $53,172,000 after purchasing an additional 350,000 shares during the period. Nuveen Asset Management LLC increased its position in shares of CNX Resources by 30.9% during the fourth quarter. Nuveen Asset Management LLC now owns 1,365,407 shares of the oil and gas producer’s stock valued at $50,069,000 after purchasing an additional 322,203 shares during the period. Finally, Millennium Management LLC increased its position in shares of CNX Resources by 69.1% during the fourth quarter. Millennium Management LLC now owns 1,154,588 shares of the oil and gas producer’s stock valued at $42,339,000 after purchasing an additional 471,763 shares during the period. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director J. Palmer Clarkson acquired 10,000 shares of the stock in a transaction dated Monday, May 12th. The stock was purchased at an average cost of $31.20 per share, with a total value of $312,000.00. Following the completion of the purchase, the director directly owned 245,433 shares in the company, valued at $7,657,509.60. This trade represents a 4.25% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Cowen reissued a “hold” rating on shares of CNX Resources in a research note on Friday, April 25th. Mizuho boosted their price objective on CNX Resources from $35.00 to $36.00 and gave the stock an “underperform” rating in a research note on Tuesday, May 13th. Morgan Stanley reissued an “underweight” rating and issued a $31.00 price objective on shares of CNX Resources in a research note on Tuesday, April 15th. Scotiabank reaffirmed a “sector perform” rating and set a $35.00 price target (up previously from $33.00) on shares of CNX Resources in a research note on Friday, July 11th. Finally, Barclays initiated coverage on CNX Resources in a research note on Monday, July 7th. They set an “equal weight” rating and a $33.00 price target on the stock. Eight analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $31.85.

CNX Resources Trading Up 2.9%

NYSE CNX opened at $33.31 on Wednesday. The business’s 50-day moving average price is $32.74 and its two-hundred day moving average price is $31.00. CNX Resources Corporation. has a 12 month low of $23.85 and a 12 month high of $41.93. The firm has a market capitalization of $4.82 billion, a PE ratio of -16.17, a price-to-earnings-growth ratio of 0.32 and a beta of 0.66. The company has a current ratio of 0.27, a quick ratio of 0.25 and a debt-to-equity ratio of 0.63.

CNX Resources Company Profile

CNX Resources Corporation, an independent natural gas and midstream company, engages in the acquisition, exploration, development, and production of natural gas properties in the Appalachian Basin. The company operates in two segments, Shale and Coalbed Methane (CBM). It produces and sells pipeline quality natural gas primarily for gas wholesalers.