CNX Resources Corporation. $CNX Position Boosted 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 lifted its position in shares of CNX Resources Corporation. (NYSE:CNX - Free Report) by 21.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 236,563 shares of the oil and gas producer's stock after acquiring an additional 42,256 shares during the period. Intech Investment Management LLC owned approximately 0.16% of CNX Resources worth $7,447,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. State of Alaska Department of Revenue grew 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 period. Fox Run Management L.L.C. grew its position in shares of CNX Resources by 2.7% during 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 acquiring an additional 432 shares during the period. Pullen Investment Management LLC grew its position in shares of CNX Resources by 1.5% during 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 acquiring an additional 482 shares during the period. Farther Finance Advisors LLC grew its position in shares of CNX Resources by 21.0% during 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 acquiring an additional 508 shares during the period. Finally, SummerHaven Investment Management LLC grew its position 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 valued at $953,000 after acquiring an additional 525 shares during the period. Institutional investors own 95.16% of the company's stock.

CNX Resources Stock Performance

CNX Resources stock traded up $0.42 during trading hours on Wednesday, reaching $31.03. 486,641 shares of the stock were exchanged, compared to its average volume of 2,513,982. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.30 and a current ratio of 0.33. CNX Resources Corporation. has a 52-week low of $27.00 and a 52-week high of $41.93. The stock has a market cap of $4.39 billion, a P/E ratio of 52.62, a P/E/G ratio of 0.27 and a beta of 0.60. The firm's 50 day moving average is $30.32 and its 200 day moving average is $30.99.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CNX shares. Barclays started coverage on shares of CNX Resources in a research note on Monday, July 7th. They set an "equal weight" rating and a $33.00 target price on the stock. TD Cowen upgraded shares of CNX Resources to a "hold" rating in a research note on Monday, July 7th. Mizuho upgraded shares of CNX Resources from an "underperform" rating to a "neutral" rating and decreased their price target for the stock from $36.00 to $34.00 in a research note on Monday. Piper Sandler decreased their price target on shares of CNX Resources from $26.00 to $24.00 and set an "underweight" rating on the stock in a research note on Thursday, August 14th. Finally, Scotiabank reiterated a "sector perform" rating and issued a $35.00 price target (up previously from $33.00) on shares of CNX Resources in a research note on Friday, July 11th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and six have issued a Sell rating to the company's stock. According to data from MarketBeat, CNX Resources currently has an average rating of "Reduce" and a consensus price target of $31.64.

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.