Mercuria Capital Strategies LLC Purchases New Position in CNX Resources Corporation. $CNX

Key Points

• Mercuria Capital Strategies LLC has acquired a new stake in CNX Resources Corporation, purchasing 173,598 shares valued at approximately $5.8 million, making it the firm's 7th largest holding.
• Institutional investors own a significant 95.16% of CNX Resources, with other firms also increasing their stakes during recent quarters.
• Analysts have set varied price targets for CNX Resources, with a consensus rating of "Reduce" and an average target price of $31.77.

Mercuria Capital Strategies LLC purchased a new stake in CNX Resources Corporation. (NYSE:CNX - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 173,598 shares of the oil and gas producer's stock, valued at approximately $5,847,000. CNX Resources makes up about 1.6% of Mercuria Capital Strategies LLC's portfolio, making the stock its 7th biggest holding. Mercuria Capital Strategies LLC owned 0.12% of CNX Resources at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new position in CNX Resources in the 1st quarter valued at about $718,000. Principal Financial Group Inc. lifted its position in CNX Resources by 1.6% in the 1st quarter. Principal Financial Group Inc. now owns 472,300 shares of the oil and gas producer's stock valued at $14,868,000 after acquiring an additional 7,440 shares in the last quarter. HighTower Advisors LLC lifted its position in CNX Resources by 59.7% in the 1st quarter. HighTower Advisors LLC now owns 46,592 shares of the oil and gas producer's stock valued at $1,467,000 after acquiring an additional 17,424 shares in the last quarter. Bridges Investment Management Inc. lifted its position in CNX Resources by 111.3% in the 1st quarter. Bridges Investment Management Inc. now owns 44,673 shares of the oil and gas producer's stock valued at $1,406,000 after acquiring an additional 23,531 shares in the last quarter. Finally, KBC Group NV lifted its position in CNX Resources by 25.0% in the 1st quarter. KBC Group NV now owns 7,768 shares of the oil and gas producer's stock valued at $245,000 after acquiring an additional 1,552 shares in the last quarter. Institutional investors own 95.16% of the company's stock.

CNX Resources Stock Up 0.7%

Shares of NYSE:CNX opened at $33.82 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.30 and a current ratio of 0.33. The firm has a market capitalization of $4.78 billion, a PE ratio of 57.32, a price-to-earnings-growth ratio of 0.31 and a beta of 0.55. The firm has a fifty day moving average of $30.10 and a 200 day moving average of $31.17. CNX Resources Corporation. has a 52-week low of $27.00 and a 52-week high of $41.93.

Analysts Set New Price Targets

CNX has been the topic of several recent analyst reports. Mizuho raised shares of CNX Resources from an "underperform" rating to a "neutral" rating and dropped their target price for the stock from $36.00 to $34.00 in a research report on Monday, September 15th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of CNX Resources in a report on Saturday, September 27th. Barclays lowered their price target on shares of CNX Resources from $33.00 to $32.00 and set an "equal weight" rating on the stock in a report on Tuesday. Scotiabank reaffirmed a "sector perform" rating and issued a $35.00 price target (up previously from $33.00) on shares of CNX Resources in a report on Friday, July 11th. Finally, TD Cowen raised shares of CNX Resources to a "hold" rating in a report on Monday, July 7th. One research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average target price of $31.77.

CNX Resources 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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