CNX Resources Corporation. $CNX Position Boosted by Southeast Asset Advisors LLC

Key Points

• Southeast Asset Advisors LLC increased its stake in CNX Resources Corporation by 6.3% in the first quarter, owning approximately 1.66% of the company with a value of about $75.8 million.
• CNX Resources has a market cap of $4.08 billion and its stock shows a 52-week trading range with a low of $26.50 and a high of $41.93.
• Equity research analysts have mixed ratings for CNX Resources, with a consensus rating of "Reduce" and an average target price of $31.77.

Southeast Asset Advisors LLC lifted its holdings in shares of CNX Resources Corporation. (NYSE:CNX - Free Report) by 6.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,408,025 shares of the oil and gas producer's stock after purchasing an additional 141,819 shares during the quarter. CNX Resources comprises about 9.3% of Southeast Asset Advisors LLC's holdings, making the stock its 2nd biggest holding. Southeast Asset Advisors LLC owned about 1.66% of CNX Resources worth $75,805,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of CNX Resources by 4.4% in the first quarter. Vanguard Group Inc. now owns 15,952,281 shares of the oil and gas producer's stock worth $502,178,000 after acquiring an additional 665,289 shares in the last quarter. Northern Trust Corp raised its position 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 purchasing an additional 411,485 shares in the last quarter. Woodline Partners LP purchased a new position in shares of CNX Resources in the 4th quarter valued at about $71,971,000. Nuveen Asset Management LLC grew its position 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 worth $50,069,000 after buying an additional 322,203 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in CNX Resources by 69.1% in the fourth quarter. Millennium Management LLC now owns 1,154,588 shares of the oil and gas producer's stock valued at $42,339,000 after acquiring an additional 471,763 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company's stock.

CNX Resources Price Performance

Shares of NYSE:CNX traded up $0.19 on Thursday, reaching $29.26. 1,043,493 shares of the company were exchanged, compared to its average volume of 2,602,964. The company has a current ratio of 0.33, a quick ratio of 0.30 and a debt-to-equity ratio of 0.56. CNX Resources Corporation. has a 1-year low of $26.50 and a 1-year high of $41.93. The company has a 50-day moving average of $31.35 and a 200-day moving average of $31.02. The firm has a market cap of $4.14 billion, a price-to-earnings ratio of 49.59, a price-to-earnings-growth ratio of 0.25 and a beta of 0.64.

Wall Street Analyst Weigh In

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

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.