Yousif Capital Management LLC Has $1.68 Million Position in CNX Resources Co. (NYSE:CNX)

Yousif Capital Management LLC lessened its holdings in shares of CNX Resources Co. (NYSE:CNX) by 2.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,431 shares of the oil and gas producer’s stock after selling 1,578 shares during the period. Yousif Capital Management LLC’s holdings in CNX Resources were worth $1,682,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CNX. Woodline Partners LP bought a new position in shares of CNX Resources during the fourth quarter worth about $71,971,000. Arrowstreet Capital Limited Partnership acquired a new position in CNX Resources during the 4th quarter worth approximately $37,923,000. Millennium Management LLC grew its stake in shares of CNX Resources by 69.1% during the 4th quarter. Millennium Management LLC now owns 1,154,588 shares of the oil and gas producer’s stock worth $42,339,000 after acquiring an additional 471,763 shares in the last quarter. Northern Trust Corp grew its stake in shares of CNX Resources by 20.5% during 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 acquiring an additional 411,485 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of CNX Resources in the fourth quarter valued at approximately $14,268,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

CNX Resources Trading Up 1.4%

Shares of NYSE:CNX opened at $33.10 on Tuesday. CNX Resources Co. has a 12-month low of $23.63 and a 12-month high of $41.93. The business has a 50 day moving average of $31.16 and a 200-day moving average of $31.61. The company has a quick ratio of 0.32, a current ratio of 0.33 and a debt-to-equity ratio of 0.45. The stock has a market cap of $4.79 billion, a PE ratio of -48.68, a P/E/G ratio of 0.42 and a beta of 0.66.

Insiders Place Their Bets

In related news, Director J. Palmer Clarkson acquired 10,000 shares of the company’s stock in a transaction on 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 acquisition, the director now directly owns 245,433 shares of the company’s stock, valued at approximately $7,657,509.60. The trade was a 4.25% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on CNX. Cowen restated a “hold” rating on shares of CNX Resources in a report on Friday, April 25th. JPMorgan Chase & Co. increased their price objective on shares of CNX Resources from $32.00 to $33.00 and gave the stock an “underweight” rating in a research note on Thursday, March 13th. Morgan Stanley restated an “underweight” rating and issued a $31.00 price objective on shares of CNX Resources in a report on Tuesday, April 15th. Piper Sandler upped their target price on CNX Resources from $21.00 to $25.00 and gave the stock an “underweight” rating in a report on Tuesday, May 13th. Finally, Raymond James raised CNX Resources from an “underperform” rating to a “market perform” rating in a research report on Tuesday, February 18th. Eight investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $31.58.

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.