Kingswood Wealth Advisors LLC Invests $1.59 Million in CNX Resources Corporation. (NYSE:CNX)

Kingswood Wealth Advisors LLC acquired a new stake in CNX Resources Corporation. (NYSE:CNX - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 50,075 shares of the oil and gas producer's stock, valued at approximately $1,591,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Neo Ivy Capital Management purchased a new position in CNX Resources during the fourth quarter worth about $1,429,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of CNX Resources by 7.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,000,464 shares of the oil and gas producer's stock worth $73,357,000 after acquiring an additional 139,647 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of CNX Resources by 2.2% in the 4th quarter. Assetmark Inc. now owns 885,429 shares of the oil and gas producer's stock worth $32,469,000 after acquiring an additional 19,309 shares during the last quarter. Wakefield Asset Management LLLP purchased a new position in shares of CNX Resources during the 4th quarter worth approximately $1,047,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in CNX Resources in the 4th quarter valued at approximately $2,464,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CNX has been the subject of several research analyst reports. Scotiabank upgraded CNX Resources from a "sector underperform" rating to a "sector perform" rating and set a $33.00 price target for the company in a research report on Friday, April 11th. Stephens raised CNX Resources from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $35.00 to $48.00 in a research report on Tuesday, March 18th. JPMorgan Chase & Co. boosted their price target on shares of CNX Resources from $32.00 to $33.00 and gave the stock an "underweight" rating in a research note on Thursday, March 13th. Cowen reissued a "hold" rating on shares of CNX Resources in a research note on Friday, April 25th. Finally, Mizuho lifted their price objective on shares of CNX Resources from $35.00 to $36.00 and gave the company an "underperform" rating in a report on Tuesday, May 13th. Eight investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $31.58.

CNX Resources Price Performance

Shares of CNX opened at $34.35 on Friday. The firm has a market capitalization of $4.97 billion, a price-to-earnings ratio of -16.67, a PEG ratio of 0.32 and a beta of 0.66. The firm's fifty day simple moving average is $31.45 and its 200-day simple moving average is $31.61. CNX Resources Corporation. has a twelve month low of $23.63 and a twelve month high of $41.93. The company has a current ratio of 0.27, a quick ratio of 0.25 and a debt-to-equity ratio of 0.63.

Insider Activity at CNX Resources

In other CNX Resources news, Director J. Palmer Clarkson purchased 10,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was purchased at an average cost of $31.20 per share, with a total value of $312,000.00. Following the completion of the acquisition, the director now directly owns 245,433 shares of the company's stock, valued at $7,657,509.60. This trade represents a 4.25% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.10% of the stock is currently owned by corporate insiders.

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.

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