CNX Resources Corporation. $CNX Shares Purchased by SeaBridge Investment Advisors LLC

Key Points

• SeaBridge Investment Advisors LLC increased its stake in CNX Resources by 11.4% in Q2, owning 97,023 shares valued at approximately $3.26 million.
• Overall, institutional investors and hedge funds hold 95.16% of CNX Resources’ stock, indicating strong institutional interest.
• Wall Street analysts show mixed opinions on CNX, with a consensus rating of "Reduce" and an average target price of $31.64.

SeaBridge Investment Advisors LLC boosted its position in CNX Resources Corporation. (NYSE:CNX - Free Report) by 11.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 97,023 shares of the oil and gas producer's stock after purchasing an additional 9,908 shares during the period. SeaBridge Investment Advisors LLC owned approximately 0.07% of CNX Resources worth $3,268,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of CNX Resources during the 1st quarter valued at $718,000. Principal Financial Group Inc. lifted its position in shares of CNX Resources by 1.6% during the 1st quarter. Principal Financial Group Inc. now owns 472,300 shares of the oil and gas producer's stock valued at $14,868,000 after acquiring an additional 7,440 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of CNX Resources by 59.7% during the 1st quarter. HighTower Advisors LLC now owns 46,592 shares of the oil and gas producer's stock valued at $1,467,000 after acquiring an additional 17,424 shares during the last quarter. Bridges Investment Management Inc. lifted its position in shares of CNX Resources by 111.3% during the 1st quarter. Bridges Investment Management Inc. now owns 44,673 shares of the oil and gas producer's stock valued at $1,406,000 after acquiring an additional 23,531 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of CNX Resources by 21.0% during 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 acquiring an additional 508 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company's stock.

CNX Resources Trading Up 0.2%

NYSE CNX opened at $32.23 on Friday. CNX Resources Corporation. has a 1-year low of $27.00 and a 1-year 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 company has a market capitalization of $4.56 billion, a PE ratio of 54.63, a price-to-earnings-growth ratio of 0.29 and a beta of 0.60. The firm's fifty day simple moving average is $29.86 and its 200-day simple moving average is $31.07.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Piper Sandler cut their price objective on CNX Resources from $26.00 to $24.00 and set an "underweight" rating for the company in a research report on Thursday, August 14th. Barclays assumed coverage on CNX Resources in a research report on Monday, July 7th. They set an "equal weight" rating and a $33.00 price objective for the company. Siebert Williams Shank initiated coverage on CNX Resources in a research report on Monday, September 15th. They set a "hold" rating and a $32.00 price objective for the company. TD Cowen raised shares of CNX Resources to a "hold" rating in a research note on Monday, July 7th. Finally, Scotiabank reissued a "sector perform" rating and set a $35.00 target price (up from $33.00) on shares of CNX Resources in a research note on Friday, July 11th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and six have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Reduce" and an average target price of $31.64.

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.

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