CNX Resources Corporation. $CNX Shares Acquired by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC increased its stake in CNX Resources Corporation by 21.7% in the first quarter, now owning approximately 0.16% of the company valued at $7,447,000.
• The stock has a current market cap of $4.23 billion, with a recent trading price of $29.89 and a price-to-earnings ratio of 50.66.
• Analysts have mixed opinions on the stock, with an average target price of $31.77; one buy rating, eight hold ratings, and seven sell ratings issued.

Intech Investment Management LLC raised its stake in CNX Resources Corporation. (NYSE:CNX - Free Report) by 21.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 236,563 shares of the oil and gas producer's stock after buying an additional 42,256 shares during the quarter. Intech Investment Management LLC owned approximately 0.16% of CNX Resources worth $7,447,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. State of Alaska Department of Revenue boosted its position in shares of CNX Resources by 2.4% during the 1st quarter. State of Alaska Department of Revenue now owns 17,437 shares of the oil and gas producer's stock valued at $548,000 after acquiring an additional 415 shares during the last quarter. Fox Run Management L.L.C. boosted its holdings in CNX Resources by 2.7% in the 1st quarter. Fox Run Management L.L.C. now owns 16,317 shares of the oil and gas producer's stock valued at $514,000 after purchasing an additional 432 shares during the last quarter. Pullen Investment Management LLC boosted its holdings in CNX Resources by 1.5% in the 1st quarter. Pullen Investment Management LLC now owns 32,633 shares of the oil and gas producer's stock valued at $1,027,000 after purchasing an additional 482 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of CNX Resources by 21.0% in 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 buying an additional 508 shares during the period. Finally, SummerHaven Investment Management LLC increased its holdings in shares of CNX Resources by 1.8% during the 1st quarter. SummerHaven Investment Management LLC now owns 30,284 shares of the oil and gas producer's stock worth $953,000 after buying an additional 525 shares during the last quarter. Hedge funds and other institutional investors own 95.16% of the company's stock.

CNX Resources Stock Up 0.2%

Shares of CNX stock traded up $0.07 on Friday, reaching $29.99. 1,303,247 shares of the stock were exchanged, compared to its average volume of 1,389,955. CNX Resources Corporation. has a twelve month low of $27.00 and a twelve month 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 $4.24 billion, a price-to-earnings ratio of 50.83, a PEG ratio of 0.27 and a beta of 0.60. The business's 50 day moving average price is $30.40 and its 200 day moving average price is $30.98.

Analysts Set New Price Targets

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