CNX Resources Corporation. (NYSE:CNX) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its stake in shares of CNX Resources Corporation. (NYSE:CNX - Free Report) by 1.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 472,300 shares of the oil and gas producer's stock after buying an additional 7,440 shares during the quarter. Principal Financial Group Inc. owned approximately 0.32% of CNX Resources worth $14,868,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bessemer Group Inc. raised its holdings in shares of CNX Resources by 131.5% in the 4th quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer's stock valued at $34,000 after purchasing an additional 526 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of CNX Resources in the 4th quarter valued at about $39,000. VSM Wealth Advisory LLC bought a new stake in shares of CNX Resources in the 4th quarter valued at about $55,000. Harbor Capital Advisors Inc. bought a new stake in shares of CNX Resources in the 1st quarter valued at about $61,000. Finally, Sound Income Strategies LLC bought a new stake in shares of CNX Resources in the 1st quarter valued at about $63,000. Institutional investors own 95.16% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented 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 report on Friday. Piper Sandler boosted their price objective on shares of CNX Resources from $21.00 to $25.00 and gave the stock an "underweight" rating in a research note on Tuesday, May 13th. Stephens upgraded shares of CNX Resources from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $35.00 to $48.00 in a research note on Tuesday, March 18th. TD Cowen upgraded shares of CNX Resources to a "hold" rating in a research note on Monday, July 7th. Finally, Morgan Stanley reiterated an "underweight" rating and set a $31.00 price objective on shares of CNX Resources in a research note on Tuesday, April 15th. Eight analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $31.85.

CNX Resources Stock Performance

Shares of CNX traded down $1.38 during trading hours on Tuesday, hitting $33.82. The stock had a trading volume of 2,252,774 shares, compared to its average volume of 2,609,501. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.25 and a current ratio of 0.27. The firm has a 50-day moving average price of $32.43 and a 200 day moving average price of $31.10. CNX Resources Corporation. has a fifty-two week low of $23.85 and a fifty-two week high of $41.93. The firm has a market capitalization of $4.89 billion, a price-to-earnings ratio of -16.42, a PEG ratio of 0.33 and a beta of 0.66.

Insiders Place Their Bets

In related news, Director J. Palmer Clarkson acquired 10,000 shares of CNX Resources stock in a transaction on Monday, May 12th. The stock was bought at an average cost of $31.20 per share, for a total transaction of $312,000.00. Following the completion of the transaction, the director owned 245,433 shares of the company's stock, valued at approximately $7,657,509.60. The trade was a 4.25% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 3.10% of the company's stock.

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.