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

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

Other hedge funds have also modified their holdings of the company. Woodline Partners LP bought a new stake in CNX Resources in the fourth quarter worth $71,971,000. Arrowstreet Capital Limited Partnership acquired a new position in CNX Resources during the fourth quarter worth $37,923,000. Millennium Management LLC increased its position in CNX Resources by 69.1% during the fourth quarter. Millennium Management LLC now owns 1,154,588 shares of the oil and gas producer's stock worth $42,339,000 after buying an additional 471,763 shares during the last quarter. Northern Trust Corp increased its position in CNX Resources by 20.5% during the fourth quarter. Northern Trust Corp now owns 2,421,387 shares of the oil and gas producer's stock worth $88,792,000 after buying an additional 411,485 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in CNX Resources during the fourth quarter worth $14,268,000. 95.16% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director J. Palmer Clarkson bought 10,000 shares of the business's stock in a transaction dated Monday, May 12th. The stock was bought at an average price 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 of the company's stock, valued at approximately $7,657,509.60. The trade was a 4.25% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.10% of the company's stock.

CNX Resources Price Performance

Shares of NYSE:CNX traded up $0.67 during trading on Friday, reaching $34.00. The stock had a trading volume of 1,670,014 shares, compared to its average volume of 2,595,607. CNX Resources Corporation. has a 52 week low of $23.85 and a 52 week high of $41.93. The business's 50-day moving average price is $32.43 and its 200 day moving average price is $31.13. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.27 and a quick ratio of 0.25. The stock has a market capitalization of $4.92 billion, a PE ratio of -16.50, a P/E/G ratio of 0.33 and a beta of 0.66.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CNX shares. Cowen reissued a "hold" rating on shares of CNX Resources in a research report on Friday, April 25th. Piper Sandler upped their price target on shares of CNX Resources from $21.00 to $25.00 and gave the company an "underweight" rating in a report on Tuesday, May 13th. Stephens upgraded shares of CNX Resources from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $35.00 to $48.00 in a report on Tuesday, March 18th. Mizuho upped their price target on shares of CNX Resources from $35.00 to $36.00 and gave the company an "underperform" rating in a report on Tuesday, May 13th. Finally, Scotiabank upped their price target on shares of CNX Resources from $33.00 to $35.00 and gave the company a "sector perform" rating in a report on Friday. Eight analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, CNX Resources presently has a consensus rating of "Hold" and an average target price of $31.85.

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.