Geode Capital Management LLC Sells 135,342 Shares of CNX Resources Corporation. $CNX

Geode Capital Management LLC reduced its holdings in CNX Resources Corporation. (NYSE:CNX) by 3.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 3,590,026 shares of the oil and gas producer’s stock after selling 135,342 shares during the quarter. Geode Capital Management LLC’s holdings in CNX Resources were worth $132,033,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Hantz Financial Services Inc. increased its stake in CNX Resources by 142.6% in the 4th quarter. Hantz Financial Services Inc. now owns 7,167 shares of the oil and gas producer’s stock worth $264,000 after acquiring an additional 4,213 shares during the last quarter. Catalyst Funds Management Pty Ltd bought a new position in CNX Resources in the 4th quarter worth about $228,000. Jefferies Financial Group Inc. bought a new position in CNX Resources in the 4th quarter worth about $15,786,000. Axxcess Wealth Management LLC bought a new position in CNX Resources in the 4th quarter worth about $358,000. Finally, Global Retirement Partners LLC increased its stake in CNX Resources by 59,272.2% in the 4th quarter. Global Retirement Partners LLC now owns 10,687 shares of the oil and gas producer’s stock worth $393,000 after acquiring an additional 10,669 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors.

Insider Activity at CNX Resources

In other CNX Resources news, Director William N. Thorndike, Jr. sold 28,800 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $38.25, for a total value of $1,101,600.00. Following the completion of the sale, the director owned 426,585 shares in the company, valued at approximately $16,316,876.25. This trade represents a 6.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Maureen Lally-Green sold 23,631 shares of the stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $39.52, for a total value of $933,897.12. Following the completion of the sale, the director owned 169,577 shares of the company’s stock, valued at approximately $6,701,683.04. This trade represents a 12.23% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 5.03% of the company’s stock.

CNX Resources Trading Up 1.5%

Shares of CNX stock opened at $34.07 on Friday. The stock has a market capitalization of $4.82 billion, a PE ratio of 4.73 and a beta of 0.58. CNX Resources Corporation. has a 1-year low of $27.72 and a 1-year high of $43.62. The business has a 50-day moving average of $37.34 and a 200 day moving average of $38.18. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.49 and a quick ratio of 0.46.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CNX shares. Tudor Pickering upgraded CNX Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, May 8th. Truist Financial started coverage on CNX Resources in a research report on Tuesday, March 24th. They set a “sell” rating and a $35.00 price objective on the stock. Weiss Ratings lowered CNX Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, May 28th. Zacks Research lowered CNX Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Finally, Mizuho reduced their price objective on CNX Resources from $44.00 to $42.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the company currently 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.