Intech Investment Management LLC Has $5.86 Million Stock Position in CNX Resources Corporation. $CNX

Intech Investment Management LLC trimmed its position in CNX Resources Corporation. (NYSE:CNX) by 12.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 159,410 shares of the oil and gas producer’s stock after selling 23,185 shares during the quarter. Intech Investment Management LLC’s holdings in CNX Resources were worth $5,862,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AlphaQuest LLC increased its position in CNX Resources by 5,703.1% in the third quarter. AlphaQuest LLC now owns 63,022 shares of the oil and gas producer’s stock worth $2,024,000 after purchasing an additional 61,936 shares during the period. American Century Companies Inc. increased its position in 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 worth $103,954,000 after purchasing an additional 454,071 shares during the period. Capital Management Corp VA increased its position in CNX Resources by 9.0% in the third quarter. Capital Management Corp VA now owns 393,671 shares of the oil and gas producer’s stock worth $12,645,000 after purchasing an additional 32,404 shares during the period. Pullen Investment Management LLC increased its position in CNX Resources by 76.3% in 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 during the period. Finally, Capital Research Global Investors increased its position in CNX Resources by 38.6% in 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 during the period. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Maureen Lally-Green sold 23,631 shares of CNX Resources 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 transaction, the director owned 169,577 shares in the company, valued at $6,701,683.04. The trade was a 12.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William N. Thorndike, Jr. sold 28,800 shares of CNX Resources 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 transaction, the director owned 426,585 shares in the company, valued at $16,316,876.25. This trade represents a 6.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 5.03% of the company’s stock.

CNX Resources Price Performance

Shares of CNX opened at $33.73 on Friday. The company has a current ratio of 0.49, a quick ratio of 0.46 and a debt-to-equity ratio of 0.47. CNX Resources Corporation. has a 1 year low of $27.72 and a 1 year high of $43.62. The stock has a market cap of $4.77 billion, a P/E ratio of 4.68 and a beta of 0.64. The stock’s 50-day moving average price is $37.90 and its two-hundred day moving average price is $38.27.

Analysts Set New Price Targets

CNX has been the topic of a number of recent analyst reports. Tudor Pickering upgraded CNX Resources from a “strong sell” rating to a “hold” rating in a report on Friday, May 8th. Morgan Stanley restated an “underweight” rating on shares of CNX Resources in a report on Friday, March 27th. Weiss Ratings cut CNX Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday. Truist Financial initiated coverage on CNX Resources in a report on Tuesday, March 24th. They set a “sell” rating and a $35.00 target price on the stock. Finally, Mizuho reduced their target price on CNX Resources from $44.00 to $42.00 and set a “neutral” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat, CNX Resources presently has a consensus rating of “Reduce” and a consensus 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.