Renaissance Technologies LLC Sells 17,800 Shares of CNX Resources Co. (NYSE:CNX)

Renaissance Technologies LLC trimmed its stake in CNX Resources Co. (NYSE:CNX) by 46.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,316 shares of the oil and gas producer’s stock after selling 17,800 shares during the period. Renaissance Technologies LLC’s holdings in CNX Resources were worth $745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership bought a new stake in shares of CNX Resources in the 4th quarter valued at about $37,923,000. Raymond James Financial Inc. acquired a new stake in CNX Resources during the 4th quarter valued at approximately $14,268,000. Empirical Asset Management LLC acquired a new stake in CNX Resources during the 4th quarter worth about $9,281,000. ExodusPoint Capital Management LP purchased a new position in CNX Resources during the fourth quarter valued at approximately $8,072,000. Finally, Empowered Funds LLC boosted its holdings in CNX Resources by 328.0% during the fourth quarter. Empowered Funds LLC now owns 211,719 shares of the oil and gas producer’s stock worth $7,764,000 after buying an additional 162,247 shares in the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CNX has been the subject of several research reports. JPMorgan Chase & Co. boosted their price objective on CNX Resources from $32.00 to $33.00 and gave the stock an “underweight” rating in a research note on Thursday, March 13th. TD Cowen began coverage on CNX Resources in a report on Wednesday, January 15th. They issued a “hold” rating and a $27.00 price objective on the stock. Roth Capital set a $30.00 price objective on shares of CNX Resources in a research report on Thursday, January 23rd. Scotiabank raised shares of CNX Resources from a “sector underperform” rating to a “sector perform” rating and set a $33.00 price objective for the company in a research note on Friday, April 11th. Finally, Stephens raised CNX Resources from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $35.00 to $48.00 in a research report on Tuesday, March 18th. Eight research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, CNX Resources currently has an average rating of “Hold” and a consensus target price of $31.17.

CNX Resources Price Performance

Shares of CNX stock opened at $29.61 on Friday. The stock’s fifty day moving average is $30.24 and its 200-day moving average is $32.94. The stock has a market capitalization of $4.29 billion, a PE ratio of -43.55, a PEG ratio of 0.42 and a beta of 1.33. CNX Resources Co. has a 52 week low of $23.03 and a 52 week high of $41.93. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.32 and a current ratio of 0.33.

CNX Resources (NYSE:CNX) last posted its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.14. CNX Resources had a positive return on equity of 6.72% and a negative net margin of 7.14%. Equities research analysts expect that CNX Resources Co. will post 2.18 EPS for the current fiscal year.

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.