Allspring Global Investments Holdings LLC Makes New Investment in CNX Resources Corporation. (NYSE:CNX)

Allspring Global Investments Holdings LLC acquired a new position in CNX Resources Corporation. (NYSE:CNX - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 22,532 shares of the oil and gas producer's stock, valued at approximately $718,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northern Trust Corp raised its position in shares of 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 worth $88,792,000 after acquiring an additional 411,485 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of CNX Resources by 7.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,000,464 shares of the oil and gas producer's stock worth $73,357,000 after buying an additional 139,647 shares during the last quarter. Woodline Partners LP purchased a new position in CNX Resources during the fourth quarter worth approximately $71,971,000. Capital Research Global Investors raised its holdings in shares of CNX Resources by 31.8% during the fourth 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 acquiring an additional 350,000 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in shares of CNX Resources by 30.9% during the fourth 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 acquiring an additional 322,203 shares during the last quarter. Hedge funds and other institutional investors own 95.16% of the company's stock.

Insider Activity

In related news, Director J. Palmer Clarkson purchased 10,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was acquired at an average cost of $31.20 per share, for a total transaction of $312,000.00. Following the completion of the purchase, the director owned 245,433 shares in the company, valued at approximately $7,657,509.60. This represents a 4.25% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently commented on CNX. Stephens upgraded CNX Resources from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $35.00 to $48.00 in a research report on Tuesday, March 18th. Barclays initiated coverage on CNX Resources in a research report on Monday. They issued an "equal weight" rating and a $33.00 price target on the stock. TD Cowen upgraded CNX Resources to a "hold" rating in a research report on Monday. Scotiabank raised their price target on CNX Resources from $33.00 to $35.00 and gave the stock a "sector perform" rating in a research report on Friday. Finally, Piper Sandler lifted their price objective on CNX Resources from $21.00 to $25.00 and gave the company an "underweight" rating in a research report on Tuesday, May 13th. Eight investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $31.85.

CNX Resources Stock Up 1.0%

CNX traded up $0.33 during trading on Friday, hitting $33.66. The company had a trading volume of 232,598 shares, compared to its average volume of 2,591,236. The company has a market capitalization of $4.87 billion, a PE ratio of -16.33, a PEG ratio of 0.32 and a beta of 0.66. CNX Resources Corporation. has a one year low of $23.85 and a one year high of $41.93. The firm's 50-day moving average price is $32.36 and its 200 day moving average price is $31.19. The company has a quick ratio of 0.25, a current ratio of 0.27 and a debt-to-equity ratio of 0.63.

CNX Resources 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.