Hsbc Holdings PLC Sells 271,086 Shares of CNX Resources Corporation. $CNX

Hsbc Holdings PLC decreased its position in CNX Resources Corporation. (NYSE:CNX) by 97.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 7,516 shares of the oil and gas producer’s stock after selling 271,086 shares during the quarter. Hsbc Holdings PLC’s holdings in CNX Resources were worth $238,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Quantbot Technologies LP grew its holdings in shares of CNX Resources by 355.9% in the 1st quarter. Quantbot Technologies LP now owns 336,611 shares of the oil and gas producer’s stock worth $10,597,000 after purchasing an additional 262,770 shares during the last quarter. Algert Global LLC bought a new stake in shares of CNX Resources in the 1st quarter worth about $4,932,000. Corient IA LLC bought a new stake in shares of CNX Resources in the 1st quarter worth about $315,000. Fox Run Management L.L.C. grew its holdings in shares of CNX Resources by 2.7% in the 1st quarter. Fox Run Management L.L.C. now owns 16,317 shares of the oil and gas producer’s stock worth $514,000 after purchasing an additional 432 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of CNX Resources by 4.6% in the 1st quarter. Russell Investments Group Ltd. now owns 72,022 shares of the oil and gas producer’s stock worth $2,268,000 after purchasing an additional 3,171 shares during the last quarter. Institutional investors own 95.16% of the company’s stock.

CNX Resources Stock Performance

CNX Resources stock opened at $29.42 on Friday. The company has a current ratio of 0.33, a quick ratio of 0.30 and a debt-to-equity ratio of 0.56. CNX Resources Corporation. has a 1 year low of $26.50 and a 1 year high of $41.93. The company has a market cap of $4.16 billion, a PE ratio of 49.86, a PEG ratio of 0.26 and a beta of 0.60. The company’s 50-day moving average is $30.78 and its two-hundred day moving average is $30.98.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. TD Cowen raised shares of CNX Resources to a “hold” rating in a report on Monday, July 7th. Barclays initiated coverage on shares of CNX Resources in a report on Monday, July 7th. They issued an “equal weight” rating and a $33.00 target price on the stock. Mizuho increased their price objective on shares of CNX Resources from $35.00 to $36.00 and gave the stock an “underperform” rating in a report on Tuesday, May 13th. Scotiabank reissued a “sector perform” rating and set a $35.00 price objective (up previously from $33.00) on shares of CNX Resources in a report on Friday, July 11th. Finally, Piper Sandler decreased their price objective on shares of CNX Resources from $26.00 to $24.00 and set an “underweight” rating on the stock in a report on Thursday, August 14th. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and seven have issued a Sell rating to the company’s stock. According to MarketBeat.com, CNX Resources has a consensus rating of “Reduce” and a consensus price target of $31.77.

CNX Resources 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.