HighTower Advisors LLC Buys 17,424 Shares of CNX Resources Corporation. $CNX

Key Points

• HighTower Advisors LLC increased its holdings in CNX Resources Corporation by 59.7%, owning 46,592 shares worth approximately $1.47 million after acquiring an additional 17,424 shares in the first quarter.
• CNX Resources Corporation has a market cap of $4.08 billion and its stock currently has a P/E ratio of 48.96.
• Analysts have mixed ratings on CNX Resources, with one Buy, eight Holds, and seven Sells, leading to a consensus rating of "Reduce" and an average price target of $31.77.

HighTower Advisors LLC lifted its stake in shares of CNX Resources Corporation. (NYSE:CNX - Free Report) by 59.7% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 46,592 shares of the oil and gas producer's stock after buying an additional 17,424 shares during the quarter. HighTower Advisors LLC's holdings in CNX Resources were worth $1,467,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CNX. Woodline Partners LP acquired a new stake in shares of CNX Resources during the 4th quarter worth about $71,971,000. Nuveen LLC acquired a new stake in shares of CNX Resources during the 1st quarter worth about $35,567,000. Vanguard Group Inc. lifted its stake in shares of CNX Resources by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 15,952,281 shares of the oil and gas producer's stock worth $502,178,000 after buying an additional 665,289 shares during the last quarter. Millennium Management LLC lifted its stake in shares of CNX Resources by 69.1% during the 4th quarter. Millennium Management LLC now owns 1,154,588 shares of the oil and gas producer's stock worth $42,339,000 after buying an additional 471,763 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of CNX Resources by 20.5% during the 4th quarter. Northern Trust Corp now owns 2,421,387 shares of the oil and gas producer's stock worth $88,792,000 after buying an additional 411,485 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company's stock.

Analysts Set New Price Targets

CNX has been the topic of a number of analyst reports. TD Cowen upgraded shares of CNX Resources to a "hold" rating in a research report on Monday, July 7th. Piper Sandler cut their price target on CNX Resources from $26.00 to $24.00 and set an "underweight" rating for the company in a research note on Thursday, August 14th. Scotiabank reissued a "sector perform" rating and set a $35.00 price target (up previously from $33.00) on shares of CNX Resources in a research report on Friday, July 11th. Barclays started coverage on CNX Resources in a research note on Monday, July 7th. They set an "equal weight" rating and a $33.00 price objective on the stock. Finally, Mizuho lifted their price objective on CNX Resources from $35.00 to $36.00 and gave the company an "underperform" rating in a report on Tuesday, May 13th. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and seven have assigned a Sell rating to the stock. Based on data from MarketBeat, CNX Resources currently has an average rating of "Reduce" and a consensus target price of $31.77.

CNX Resources Price Performance

CNX stock traded down $0.06 during mid-day trading on Friday, hitting $29.20. The stock had a trading volume of 1,221,711 shares, compared to its average volume of 1,558,788. 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 52 week low of $26.50 and a 52 week high of $41.93. The firm has a market capitalization of $4.13 billion, a P/E ratio of 49.48, a P/E/G ratio of 0.26 and a beta of 0.60. The firm has a fifty day simple moving average of $31.15 and a 200 day simple moving average of $31.02.

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.