Canada Pension Plan Investment Board Has $9.09 Million Stock Position in CNX Resources Corporation. $CNX

Key Points

• The Canada Pension Plan Investment Board increased its holdings in CNX Resources Corporation by 201.7%, acquiring an additional 193,000 shares in the first quarter.
• Several institutional investors, such as Woodline Partners and Vanguard Group, have also significantly increased their stakes in CNX Resources, indicating a growing interest in the company.
• Analysts have issued mixed ratings on CNX Resources, with a consensus target price of $31.77 and one analyst rating the stock as a Buy.

Canada Pension Plan Investment Board grew its holdings in CNX Resources Corporation. (NYSE:CNX - Free Report) by 201.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 288,700 shares of the oil and gas producer's stock after acquiring an additional 193,000 shares during the quarter. Canada Pension Plan Investment Board owned 0.20% of CNX Resources worth $9,088,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CNX. Harbor Capital Advisors Inc. bought a new stake in shares of CNX Resources in the first quarter worth about $61,000. Sound Income Strategies LLC bought a new stake in shares of CNX Resources in the first quarter worth about $63,000. UMB Bank n.a. increased its holdings in shares of CNX Resources by 59.7% in the first quarter. UMB Bank n.a. now owns 2,062 shares of the oil and gas producer's stock worth $65,000 after acquiring an additional 771 shares in the last quarter. Ameriflex Group Inc. bought a new stake in shares of CNX Resources in the fourth quarter worth about $88,000. Finally, Farther Finance Advisors LLC increased its holdings in shares of CNX Resources by 21.0% in the first quarter. Farther Finance Advisors LLC now owns 2,931 shares of the oil and gas producer's stock worth $93,000 after acquiring an additional 508 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors.

CNX Resources Stock Down 1.7%

Shares of CNX Resources stock traded down $0.52 during trading hours on Monday, reaching $29.03. 191,467 shares of the company's stock were exchanged, compared to its average volume of 2,552,431. The company has a 50 day moving average of $30.70 and a two-hundred day moving average of $30.99. CNX Resources Corporation. has a fifty-two week low of $26.50 and a fifty-two week high of $41.93. 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 stock has a market cap of $4.11 billion, a P/E ratio of 49.24, a P/E/G ratio of 0.26 and a beta of 0.60.

Wall Street Analyst Weigh In

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

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.