CNX Resources Corporation. $CNX Shares Bought by Dynamic Technology Lab Private Ltd

Key Points

• Dynamic Technology Lab Private Ltd increased its stake in CNX Resources Corporation by 191.9% during the first quarter, owning 39,271 shares valued at $1.236 million.
• Institutional investors collectively own 95.16% of CNX Resources' stock, with multiple hedge funds making significant investments in the company recently.
• Analysts have varying ratings on CNX Resources, with one Buy, eight Hold, and seven Sell ratings, reflecting a consensus rating of "Reduce" and an average price target of $31.77.

Dynamic Technology Lab Private Ltd raised its position in CNX Resources Corporation. (NYSE:CNX - Free Report) by 191.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,271 shares of the oil and gas producer's stock after acquiring an additional 25,817 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in CNX Resources were worth $1,236,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new stake in CNX Resources during the first quarter worth approximately $718,000. Principal Financial Group Inc. raised its holdings in CNX Resources by 1.6% during the first quarter. Principal Financial Group Inc. now owns 472,300 shares of the oil and gas producer's stock worth $14,868,000 after purchasing an additional 7,440 shares in the last quarter. HighTower Advisors LLC raised its holdings in CNX Resources by 59.7% during the first quarter. HighTower Advisors LLC now owns 46,592 shares of the oil and gas producer's stock worth $1,467,000 after purchasing an additional 17,424 shares in the last quarter. Bridges Investment Management Inc. raised its holdings in CNX Resources by 111.3% during the first quarter. Bridges Investment Management Inc. now owns 44,673 shares of the oil and gas producer's stock worth $1,406,000 after purchasing an additional 23,531 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in CNX Resources by 21.0% during the first quarter. Farther Finance Advisors LLC now owns 2,931 shares of the oil and gas producer's stock worth $93,000 after purchasing an additional 508 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company's stock.

CNX Resources Stock Performance

CNX traded up $0.07 during trading on Friday, hitting $29.99. The stock had a trading volume of 1,303,247 shares, compared to its average volume of 1,406,057. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.30 and a current ratio of 0.33. The firm has a market capitalization of $4.24 billion, a P/E ratio of 50.83, a PEG ratio of 0.27 and a beta of 0.60. The company's 50-day moving average price is $30.40 and its 200 day moving average price is $30.97. CNX Resources Corporation. has a twelve month low of $27.00 and a twelve month high of $41.93.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Barclays assumed coverage on shares of CNX Resources in a report on Monday, July 7th. They set an "equal weight" rating and a $33.00 price objective on the stock. Scotiabank reissued a "sector perform" rating and set a $35.00 price objective (up previously from $33.00) on shares of CNX Resources in a report on Friday, July 11th. Piper Sandler cut their target price on shares of CNX Resources from $26.00 to $24.00 and set an "underweight" rating on the stock in a report on Thursday, August 14th. Finally, TD Cowen upgraded shares of CNX Resources to a "hold" rating in a research report on Monday, July 7th. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and seven have issued a Sell rating to the stock. According to data from MarketBeat.com, the company 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.