BW Gestao de Investimentos Ltda. Buys 70,011 Shares of CNX Resources Corporation. $CNX

BW Gestao de Investimentos Ltda. raised its holdings in CNX Resources Corporation. (NYSE:CNX) by 180.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 108,800 shares of the oil and gas producer’s stock after acquiring an additional 70,011 shares during the period. BW Gestao de Investimentos Ltda.’s holdings in CNX Resources were worth $4,001,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State of Wyoming acquired a new stake in CNX Resources in the 2nd quarter valued at approximately $29,000. Caitlin John LLC bought a new position in shares of CNX Resources during the 3rd quarter worth approximately $31,000. Highlander Partners L.P. bought a new position in shares of CNX Resources during the 4th quarter worth approximately $56,000. EverSource Wealth Advisors LLC lifted its position in shares of CNX Resources by 393.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,925 shares of the oil and gas producer’s stock worth $65,000 after buying an additional 1,535 shares during the period. Finally, JTC Employer Solutions Trustee Ltd bought a new position in CNX Resources in the 4th quarter valued at $74,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insider Buying and Selling

In other news, Director William N. Thorndike, Jr. sold 28,800 shares of the firm’s 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 directly owned 426,585 shares of the company’s stock, valued at $16,316,876.25. This trade represents a 6.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Maureen Lally-Green sold 23,631 shares of the firm’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $39.52, for a total value of $933,897.12. Following the completion of the sale, the director directly owned 169,577 shares of the company’s stock, valued at approximately $6,701,683.04. The trade was a 12.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 5.03% of the company’s stock.

Wall Street Analyst Weigh In

CNX has been the subject of a number of research reports. Morgan Stanley reissued an “underweight” rating on shares of CNX Resources in a report on Friday, March 27th. Weiss Ratings downgraded CNX Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, May 28th. Truist Financial began coverage on CNX Resources in a report on Tuesday, March 24th. They issued a “sell” rating and a $35.00 price target for the company. Tudor Pickering upgraded CNX Resources from a “strong sell” rating to a “hold” rating in a report on Friday, May 8th. Finally, Mizuho reduced their price objective on CNX Resources from $44.00 to $42.00 and set a “neutral” rating for the company in a research report on Wednesday, May 27th. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, CNX Resources currently has a consensus rating of “Reduce” and an average target price of $35.44.

CNX Resources Stock Performance

CNX opened at $33.29 on Wednesday. CNX Resources Corporation. has a 12-month low of $27.72 and a 12-month high of $43.62. The stock has a market cap of $4.71 billion, a price-to-earnings ratio of 4.62 and a beta of 0.58. The business has a 50 day moving average of $37.76 and a 200-day moving average of $38.25. The company has a quick ratio of 0.46, a current ratio of 0.49 and a debt-to-equity ratio of 0.47.

CNX Resources Profile

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.