Campbell & CO Investment Adviser LLC Acquires 55,239 Shares of CNX Resources Corporation. $CNX

Key Points

• Campbell & CO Investment Adviser LLC increased its stake in CNX Resources Corporation by 68.4% during the first quarter, now holding 136,025 shares valued at approximately $4.28 million.
• CNX Resources has seen significant interest from other investors, with institutions like Vanguard Group and Nuveen Asset Management also increasing their holdings, resulting in 95.16% of the stock being owned by hedge funds.
• Analysts have mixed ratings on CNX Resources, with an average rating of "Reduce" and a target price of $31.77, while the stock currently trades around $28.87.

Campbell & CO Investment Adviser LLC grew its stake in CNX Resources Corporation. (NYSE:CNX - Free Report) by 68.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 136,025 shares of the oil and gas producer's stock after acquiring an additional 55,239 shares during the quarter. Campbell & CO Investment Adviser LLC owned 0.09% of CNX Resources worth $4,282,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CNX. Harbor Capital Advisors Inc. bought a new stake in CNX Resources during the 1st quarter worth approximately $61,000. Sound Income Strategies LLC acquired a new position in CNX Resources during the 1st quarter worth approximately $63,000. UMB Bank n.a. boosted its holdings in shares of CNX Resources by 59.7% in the 1st quarter. UMB Bank n.a. now owns 2,062 shares of the oil and gas producer's stock valued at $65,000 after buying an additional 771 shares during the last quarter. Ameriflex Group Inc. acquired a new stake in shares of CNX Resources in the 4th quarter valued at approximately $88,000. Finally, Farther Finance Advisors LLC boosted its holdings in shares of CNX Resources by 21.0% in the 1st quarter. Farther Finance Advisors LLC now owns 2,931 shares of the oil and gas producer's stock valued at $93,000 after buying an additional 508 shares during the last quarter. 95.16% of the stock is owned by institutional investors.

CNX Resources Stock Performance

CNX stock traded down $0.08 during trading hours on Wednesday, hitting $29.11. 1,266,603 shares of the stock were exchanged, compared to its average volume of 1,817,892. The company has a current ratio of 0.33, a quick ratio of 0.30 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $4.12 billion, a P/E ratio of 49.34, a P/E/G ratio of 0.25 and a beta of 0.64. The company has a 50-day simple moving average of $31.46 and a two-hundred day simple moving average of $31.03. CNX Resources Corporation. has a 12 month low of $26.50 and a 12 month high of $41.93.

Analyst Upgrades and Downgrades

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

About CNX Resources

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.