Headlands Technologies LLC Acquires New Stake in CNX Resources Corporation. (NYSE:CNX)

Key Points

• Headlands Technologies LLC acquired 11,890 shares of CNX Resources, valued at approximately $374,000, indicating growing institutional interest in the company.
• Several hedge funds, including Allspring Global Investments and Bridges Investment Management, have recently modified their stakes in CNX Resources, underscoring its appeal among institutional investors.
• CNX Resources has received mixed analyst ratings with a consensus rating of "Hold" and an average target price of $31.92, reflecting varying opinions on the stock’s performance.

Headlands Technologies LLC acquired a new position in CNX Resources Corporation. (NYSE:CNX - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 11,890 shares of the oil and gas producer's stock, valued at approximately $374,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Bessemer Group Inc. boosted its position in shares of CNX Resources by 131.5% during the fourth quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer's stock valued at $34,000 after buying an additional 526 shares during the period. Harbor Capital Advisors Inc. bought a new position in CNX Resources in the first quarter worth approximately $61,000. Sound Income Strategies LLC bought a new position in CNX Resources in the first quarter worth approximately $63,000. UMB Bank n.a. boosted its stake in shares of CNX Resources by 59.7% during the 1st 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. Finally, Ameriflex Group Inc. purchased a new stake in shares of CNX Resources during the 4th quarter worth about $88,000. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

CNX Resources Stock Down 1.8%

NYSE:CNX traded down $0.52 during trading hours on Thursday, hitting $28.54. 537,918 shares of the company traded hands, compared to its average volume of 2,667,377. CNX Resources Corporation. has a one year low of $25.88 and a one year high of $41.93. The company has a market cap of $4.04 billion, a PE ratio of 48.36, a PEG ratio of 0.25 and a beta of 0.64. The firm's 50-day simple moving average is $32.11 and its 200-day simple moving average is $30.99. The company has a quick ratio of 0.30, a current ratio of 0.33 and a debt-to-equity ratio of 0.56.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CNX shares. 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. Cowen reaffirmed a "hold" rating on shares of CNX Resources in a research report on Friday, April 25th. Barclays began coverage on shares of CNX Resources in a research note on Monday, July 7th. They issued an "equal weight" rating and a $33.00 price objective on the stock. TD Cowen upgraded shares of CNX Resources to a "hold" rating in a research report on Monday, July 7th. Finally, Piper Sandler reduced their price target on shares of CNX Resources from $26.00 to $24.00 and set an "underweight" rating on the stock in a report on Thursday. Eight analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price 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.