Financiere des Professionnels Fonds d investissement inc. Acquires New Holdings in CNX Resources Corporation. $CNX

Financiere des Professionnels Fonds d investissement inc. bought a new stake in CNX Resources Corporation. (NYSE:CNX) in the first quarter, Holdings Channel.com reports. The institutional investor bought 46,064 shares of the oil and gas producer’s stock, valued at approximately $1,776,000.

Several other large investors also recently added to or reduced their stakes in the business. State of Wyoming acquired a new position in shares of CNX Resources during the 2nd quarter worth $29,000. Smartleaf Asset Management LLC raised its holdings in shares of CNX Resources by 56.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 810 shares of the oil and gas producer’s stock valued at $30,000 after purchasing an additional 293 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of CNX Resources in the 4th quarter valued at $34,000. Kestra Advisory Services LLC acquired a new stake in shares of CNX Resources in the 4th quarter valued at $50,000. Finally, Highlander Partners L.P. bought a new stake in CNX Resources in the fourth quarter worth $56,000. 95.16% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other CNX Resources news, Director William N. Thorndike, Jr. sold 28,800 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $38.25, for a total transaction of $1,101,600.00. Following the completion of the sale, the director directly owned 426,585 shares in the company, valued at $16,316,876.25. This represents a 6.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.03% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CNX has been the topic of several analyst reports. Tudor Pickering raised shares of CNX Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, May 8th. Truist Financial raised CNX Resources from a “sell” rating to a “hold” rating and set a $35.00 price target for the company in a research report on Wednesday. Weiss Ratings downgraded CNX Resources from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, May 28th. Barclays lowered their price objective on CNX Resources from $36.00 to $35.00 and set an “underweight” rating on the stock in a report on Tuesday, May 26th. Finally, Mizuho cut their price objective on CNX Resources from $44.00 to $42.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, CNX Resources currently has a consensus rating of “Reduce” and an average target price of $35.44.

CNX Resources Price Performance

NYSE CNX opened at $33.27 on Friday. CNX Resources Corporation. has a 1 year low of $27.72 and a 1 year high of $43.62. The company has a fifty day simple moving average of $33.92 and a 200 day simple moving average of $37.07. The company has a current ratio of 0.49, a quick ratio of 0.46 and a debt-to-equity ratio of 0.47. The company has a market cap of $4.71 billion, a P/E ratio of 4.62 and a beta of 0.59.

CNX Resources Company 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.