LSV Asset Management Has $40.19 Million Stake in CNX Resources Corporation. (NYSE:CNX)

Key Points

• LSV Asset Management has decreased its stake in CNX Resources Corporation by 4.6%, selling 62,013 shares and now holding 1,276,755 shares valued at approximately $40.2 million.
• Institutional investors hold a significant majority, with 95.16% of CNX's stock owned by such investors, while several firms recently made changes to their stakes in the company.
• Wall Street analysts have mixed views on CNX Resources, with the average rating being "Hold" and a consensus price target of $31.92, reflecting caution among investment firms.

LSV Asset Management reduced its stake in CNX Resources Corporation. (NYSE:CNX - Free Report) by 4.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,276,755 shares of the oil and gas producer's stock after selling 62,013 shares during the period. LSV Asset Management owned 0.88% of CNX Resources worth $40,192,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bessemer Group Inc. boosted its position in shares of CNX Resources by 131.5% in 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. bought a new position in shares of CNX Resources in the 1st quarter worth $61,000. Sound Income Strategies LLC bought a new position in shares of CNX Resources in the 1st quarter worth $63,000. UMB Bank n.a. boosted its position in shares of CNX Resources by 59.7% in the 1st quarter. UMB Bank n.a. now owns 2,062 shares of the oil and gas producer's stock worth $65,000 after purchasing an additional 771 shares during the last quarter. Finally, Ameriflex Group Inc. acquired a new stake in CNX Resources during the 4th quarter worth $88,000. 95.16% of the stock is currently owned by institutional investors.

CNX Resources Stock Performance

CNX Resources stock traded up $0.15 during midday trading on Tuesday, reaching $29.22. 2,002,656 shares of the company's stock were exchanged, compared to its average volume of 2,568,973. CNX Resources Corporation. has a 52 week low of $23.99 and a 52 week high of $41.93. The firm has a market cap of $4.13 billion, a price-to-earnings ratio of 49.53, a P/E/G ratio of 0.29 and a beta of 0.64. The stock's 50-day simple moving average is $32.44 and its 200 day simple moving average is $31.01. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.30 and a current ratio of 0.33.

Insider Activity

In other news, Director J. Palmer Clarkson acquired 10,000 shares of CNX Resources stock in a transaction dated 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 completion of the acquisition, the director directly owned 245,433 shares in the company, valued at approximately $7,657,509.60. The trade was a 4.25% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.59% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently commented on CNX shares. Piper Sandler raised their price objective on CNX Resources from $25.00 to $26.00 and gave the stock an "underweight" rating in a research note on Friday. 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. Cowen reaffirmed a "hold" rating on shares of CNX Resources in a research note on Friday, April 25th. Morgan Stanley reaffirmed an "underweight" rating and set a $31.00 price objective on shares of CNX Resources in a research note on Tuesday, April 15th. Finally, Mizuho raised their price objective on CNX Resources from $35.00 to $36.00 and gave the stock an "underperform" rating in a research note on Tuesday, May 13th. Eight research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, CNX Resources presently has a consensus rating of "Hold" and an average price target of $31.92.

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.