Jefferies Financial Group Inc. Buys Shares of 14,027 CNX Resources Corporation. (NYSE:CNX)

Key Points

• Jefferies Financial Group Inc. has acquired 14,027 shares of CNX Resources Corporation, valued at approximately $442,000, marking its entry into the oil and gas sector.
• A significant portion of CNX Resources' stock, 95.16%, is now held by institutional investors and hedge funds, highlighting strong institutional interest in the company.
• The stock has recently experienced fluctuations, opening at $29.08 with a current market cap of $4.11 billion and a one-year price range between $24.55 and $41.93.

Jefferies Financial Group Inc. bought a new stake in CNX Resources Corporation. (NYSE:CNX - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 14,027 shares of the oil and gas producer's stock, valued at approximately $442,000.

A number of other institutional investors also recently added to or reduced their stakes in CNX. Bessemer Group Inc. lifted its position in shares of CNX Resources by 131.5% during the 4th quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer's stock worth $34,000 after purchasing an additional 526 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in CNX Resources in the first quarter valued at $61,000. Sound Income Strategies LLC purchased a new stake in CNX Resources during the 1st quarter worth about $63,000. UMB Bank n.a. boosted its position 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 position in shares of CNX Resources in the 4th quarter valued at about $88,000. Hedge funds and other institutional investors own 95.16% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CNX shares. Scotiabank reaffirmed a "sector perform" rating and issued a $35.00 price target (up from $33.00) on shares of CNX Resources in a report on Friday, July 11th. Cowen reaffirmed a "hold" rating on shares of CNX Resources in a research report on Friday, April 25th. Mizuho lifted their price target on shares of CNX Resources from $35.00 to $36.00 and gave the stock an "underperform" rating in a research note on Tuesday, May 13th. TD Cowen upgraded shares of CNX Resources to a "hold" rating in a research note on Monday, July 7th. Finally, Barclays initiated coverage on CNX Resources in a report on Monday, July 7th. They set an "equal weight" rating and a $33.00 price objective on the stock. Eight investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, CNX Resources currently has an average rating of "Hold" and a consensus target price of $31.92.

Insiders Place Their Bets

In other news, Director J. Palmer Clarkson acquired 10,000 shares of the business's stock in a transaction on Monday, May 12th. The stock was bought at an average price of $31.20 per share, for a total transaction of $312,000.00. Following the transaction, the director owned 245,433 shares in the company, valued at $7,657,509.60. This represents a 4.25% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.10% of the stock is currently owned by company insiders.

CNX Resources Stock Performance

Shares of CNX stock traded up $0.02 during midday trading on Friday, hitting $29.08. The company had a trading volume of 1,228,638 shares, compared to its average volume of 2,582,366. The stock has a market cap of $4.11 billion, a price-to-earnings ratio of 49.29, a PEG ratio of 0.25 and a beta of 0.64. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.33 and a quick ratio of 0.30. The company's 50 day simple moving average is $32.28 and its 200 day simple moving average is $31.00. CNX Resources Corporation. has a 52-week low of $25.68 and a 52-week high of $41.93.

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.