Aristeia Capital L.L.C. Sells 153,528 Shares of CNX Resources Corporation. $CNX

Aristeia Capital L.L.C. lowered its stake in CNX Resources Corporation. (NYSE:CNXFree Report) by 48.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 166,119 shares of the oil and gas producer’s stock after selling 153,528 shares during the quarter. Aristeia Capital L.L.C.’s holdings in CNX Resources were worth $6,108,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CNX. Smartleaf Asset Management LLC boosted its holdings in CNX Resources by 56.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 810 shares of the oil and gas producer’s stock valued at $30,000 after acquiring an additional 293 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in CNX Resources by 8.6% during the 4th quarter. Farther Finance Advisors LLC now owns 4,464 shares of the oil and gas producer’s stock worth $164,000 after purchasing an additional 353 shares during the last quarter. Aigen Investment Management LP raised its holdings in CNX Resources by 4.9% during the 4th quarter. Aigen Investment Management LP now owns 7,619 shares of the oil and gas producer’s stock worth $280,000 after purchasing an additional 354 shares during the last quarter. Arkadios Wealth Advisors raised its holdings in CNX Resources by 3.2% during the 4th quarter. Arkadios Wealth Advisors now owns 13,028 shares of the oil and gas producer’s stock worth $479,000 after purchasing an additional 400 shares during the last quarter. Finally, Crossmark Global Holdings Inc. lifted its position in CNX Resources by 5.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 10,881 shares of the oil and gas producer’s stock valued at $349,000 after purchasing an additional 587 shares during the period. Institutional investors and hedge funds own 95.16% of the company’s stock.

CNX Resources Stock Performance

Shares of CNX stock opened at $32.95 on Thursday. The stock has a market cap of $4.66 billion, a PE ratio of 4.58 and a beta of 0.58. The stock has a 50-day moving average of $36.21 and a 200-day moving average of $37.92. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.49 and a quick ratio of 0.46. CNX Resources Corporation. has a one year low of $27.72 and a one year high of $43.62.

Wall Street Analyst Weigh In

CNX has been the topic of several recent research reports. Tudor Pickering raised shares of CNX Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, May 8th. Zacks Research lowered shares of CNX Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Barclays reduced their price objective on shares of CNX Resources from $36.00 to $35.00 and set an “underweight” rating on the stock in a research note on Tuesday, May 26th. Morgan Stanley reaffirmed an “underweight” rating on shares of CNX Resources in a report on Friday, March 27th. Finally, Truist Financial started coverage on CNX Resources in a research note on Tuesday, March 24th. They issued a “sell” rating and a $35.00 price target on the stock. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $35.44.

Read Our Latest Report on CNX

Insider Buying and Selling

In other news, Director William N. Thorndike, Jr. sold 28,800 shares of CNX Resources stock in a transaction on 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 transaction, 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Maureen Lally-Green sold 23,631 shares of the business’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $39.52, for a total transaction of $933,897.12. Following the completion of the transaction, the director directly owned 169,577 shares of the company’s stock, valued at $6,701,683.04. This trade represents a 12.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 5.03% of the stock is currently owned by insiders.

CNX Resources Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for CNX Resources (NYSE:CNX)

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