156,660 Shares in CNX Resources Corporation. $CNX Acquired by Algert Global LLC

Key Points

• Algert Global LLC acquired a new position of 156,660 shares in CNX Resources Corporation, valued at approximately $4.93 million, representing about 0.11% ownership of the company.
• Several large investors modified their holdings in CNX Resources in the first quarter, including Allspring Global Investments, Principal Financial Group, and Bridges Investment Management.
• CNX Resources stock is currently down 2.3%, with a market capitalization of $3.98 billion and a consensus rating of "Hold" from analysts.

Algert Global LLC acquired a new position in CNX Resources Corporation. (NYSE:CNX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 156,660 shares of the oil and gas producer's stock, valued at approximately $4,932,000. Algert Global LLC owned approximately 0.11% of CNX Resources at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in CNX Resources by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 15,952,281 shares of the oil and gas producer's stock worth $502,178,000 after purchasing an additional 665,289 shares during the last quarter. Northern Trust Corp grew its holdings in CNX Resources by 20.5% in the 4th quarter. Northern Trust Corp now owns 2,421,387 shares of the oil and gas producer's stock valued at $88,792,000 after buying an additional 411,485 shares during the last quarter. Woodline Partners LP acquired a new stake in CNX Resources in the 4th quarter valued at approximately $71,971,000. Capital Research Global Investors grew its holdings in CNX Resources by 31.8% in the 4th quarter. Capital Research Global Investors now owns 1,450,000 shares of the oil and gas producer's stock valued at $53,172,000 after buying an additional 350,000 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in CNX Resources by 30.9% in the 4th quarter. Nuveen Asset Management LLC now owns 1,365,407 shares of the oil and gas producer's stock valued at $50,069,000 after buying an additional 322,203 shares during the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CNX. Scotiabank reiterated a "sector perform" rating and issued a $35.00 price objective (up previously from $33.00) on shares of CNX Resources in a research report on Friday, July 11th. Mizuho raised their price target on CNX Resources from $35.00 to $36.00 and gave the company an "underperform" rating in a report on Tuesday, May 13th. Piper Sandler dropped their target price on CNX Resources from $26.00 to $24.00 and set an "underweight" rating for the company in a research report on Thursday, August 14th. Barclays began coverage on CNX Resources in a research report on Monday, July 7th. They set an "equal weight" rating and a $33.00 target price for the company. Finally, TD Cowen raised CNX Resources to a "hold" rating in a research note on Monday, July 7th. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and seven have issued a Sell rating to the company. According to MarketBeat.com, CNX Resources has an average rating of "Reduce" and an average price target of $31.77.

CNX Resources Stock Up 0.8%

CNX traded up $0.2170 on Friday, hitting $28.8670. 1,552,985 shares of the company were exchanged, compared to its average volume of 2,004,069. CNX Resources Corporation. has a 12 month low of $26.50 and a 12 month high of $41.93. The company has a market cap of $4.08 billion, a PE ratio of 48.93, a PEG ratio of 0.25 and a beta of 0.64. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.30 and a current ratio of 0.33. The stock's fifty day moving average is $31.63 and its 200-day moving average is $31.05.

CNX Resources Company 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.