Dorsey Wright & Associates Purchases Shares of 149,522 CNX Resources Corporation. $CNX

Dorsey Wright & Associates acquired a new position in shares of CNX Resources Corporation. (NYSE:CNX) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 149,522 shares of the oil and gas producer’s stock, valued at approximately $5,498,000. CNX Resources comprises 1.2% of Dorsey Wright & Associates’ holdings, making the stock its 25th largest position.

Several other hedge funds also recently modified their holdings of the stock. Smartleaf Asset Management LLC increased its position 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 valued at $30,000 after acquiring an additional 293 shares during the last quarter. Farther Finance Advisors LLC boosted its position in CNX Resources by 8.6% during the fourth quarter. Farther Finance Advisors LLC now owns 4,464 shares of the oil and gas producer’s stock valued at $164,000 after purchasing an additional 353 shares during the last quarter. Aigen Investment Management LP grew its stake in CNX Resources by 4.9% in the fourth quarter. Aigen Investment Management LP now owns 7,619 shares of the oil and gas producer’s stock valued at $280,000 after purchasing an additional 354 shares in the last quarter. Arkadios Wealth Advisors grew its stake in CNX Resources by 3.2% in the fourth quarter. Arkadios Wealth Advisors now owns 13,028 shares of the oil and gas producer’s stock valued at $479,000 after purchasing an additional 400 shares in the last quarter. Finally, Crossmark Global Holdings Inc. increased its position in shares of CNX Resources by 5.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 10,881 shares of the oil and gas producer’s stock worth $349,000 after purchasing an additional 587 shares during the last quarter. Institutional investors own 95.16% of the company’s stock.

Insider Activity at CNX Resources

In related news, Director Maureen Lally-Green sold 23,631 shares of CNX Resources stock in a transaction that occurred on 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 directly owned 169,577 shares of the company’s stock, valued at approximately $6,701,683.04. This trade represents a 12.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 completion of the sale, the director owned 426,585 shares of the company’s stock, valued at $16,316,876.25. This trade represents a 6.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 5.03% of the stock is currently owned by corporate insiders.

CNX Resources Trading Down 0.4%

Shares of CNX stock opened at $32.72 on Friday. The firm has a 50 day moving average price of $36.07 and a two-hundred day moving average price of $37.88. The company has a quick ratio of 0.46, a current ratio of 0.49 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $4.63 billion, a PE ratio of 4.54 and a beta of 0.58. CNX Resources Corporation. has a 12-month low of $27.72 and a 12-month high of $43.62.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CNX shares. Truist Financial began coverage on CNX Resources in a research note on Tuesday, March 24th. They set a “sell” rating and a $35.00 price objective on the stock. Mizuho decreased their target price on shares of CNX Resources from $44.00 to $42.00 and set a “neutral” rating for the company in a research note on Wednesday, May 27th. Morgan Stanley restated an “underweight” rating on shares of CNX Resources in a report on Friday, March 27th. 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, 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. 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 company has an average rating of “Reduce” and a consensus price target of $35.44.

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.