Cetera Investment Advisers Reduces Position in CNX Resources Co. (NYSE:CNX)

Cetera Investment Advisers trimmed its position in shares of CNX Resources Co. (NYSE:CNX) by 13.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,186 shares of the oil and gas producer’s stock after selling 2,425 shares during the period. Cetera Investment Advisers’ holdings in CNX Resources were worth $594,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. lifted its position in shares of CNX Resources by 131.5% during the fourth quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer’s stock worth $34,000 after purchasing an additional 526 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in CNX Resources in the 4th quarter worth about $39,000. VSM Wealth Advisory LLC purchased a new position in CNX Resources in the 4th quarter worth about $55,000. Principal Securities Inc. lifted its holdings in CNX Resources by 38.5% during the 4th quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer’s stock valued at $91,000 after buying an additional 691 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in CNX Resources by 65.1% in the 4th quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer’s stock valued at $119,000 after buying an additional 1,280 shares during the period. 95.16% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at CNX Resources

In other CNX Resources news, Director J. Palmer Clarkson acquired 10,000 shares of the firm’s stock in a transaction dated Monday, May 12th. The stock was purchased at an average price of $31.20 per share, for a total transaction of $312,000.00. Following the acquisition, the director now owns 245,433 shares in the company, valued at approximately $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. Insiders own 3.10% of the company’s stock.

CNX Resources Trading Up 1.4%

Shares of NYSE:CNX opened at $31.65 on Tuesday. The company has a market capitalization of $4.58 billion, a PE ratio of -46.54, a P/E/G ratio of 0.42 and a beta of 0.62. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 0.45. CNX Resources Co. has a 12-month low of $23.63 and a 12-month high of $41.93. The business’s fifty day simple moving average is $30.83 and its 200-day simple moving average is $32.43.

Analyst Ratings Changes

A number of brokerages have recently commented on CNX. Piper Sandler raised their target price on shares of CNX Resources from $21.00 to $25.00 and gave the stock an “underweight” rating in a research report on Tuesday, May 13th. Stephens raised CNX Resources from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $35.00 to $48.00 in a research note on Tuesday, March 18th. Scotiabank upgraded CNX Resources from a “sector underperform” rating to a “sector perform” rating and set a $33.00 price objective on the stock in a report on Friday, April 11th. Bank of America lowered their target price on CNX Resources from $32.00 to $27.00 and set an “underperform” rating for the company in a report on Tuesday, April 1st. Finally, Raymond James raised CNX Resources from an “underperform” rating to a “market perform” rating in a research report on Tuesday, February 18th. Eight equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $31.58.

About CNX Resources

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.