Nuveen Asset Management LLC Purchases 322,203 Shares of CNX Resources Co. (NYSE:CNX)

Nuveen Asset Management LLC increased its stake in shares of CNX Resources Co. (NYSE:CNX - Free Report) by 30.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,365,407 shares of the oil and gas producer's stock after purchasing an additional 322,203 shares during the period. Nuveen Asset Management LLC owned approximately 0.91% of CNX Resources worth $50,069,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CNX. Congress Asset Management Co. grew its stake in CNX Resources by 7.2% in the fourth quarter. Congress Asset Management Co. now owns 266,447 shares of the oil and gas producer's stock valued at $9,771,000 after acquiring an additional 17,951 shares during the period. Convergence Investment Partners LLC acquired a new position in CNX Resources during the 4th quarter worth approximately $1,556,000. Charles Schwab Investment Management Inc. boosted its position in CNX Resources by 7.5% during 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. Wakefield Asset Management LLLP acquired a new position in CNX Resources during the fourth quarter valued at approximately $1,047,000. Finally, Assetmark Inc. boosted its position in CNX Resources by 2.2% during the fourth quarter. Assetmark Inc. now owns 885,429 shares of the oil and gas producer's stock valued at $32,469,000 after purchasing an additional 19,309 shares during the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at CNX Resources

In related news, Director J. Palmer Clarkson purchased 10,000 shares of CNX Resources stock in a transaction on Monday, May 12th. The shares were purchased at an average price of $31.20 per share, for a total transaction of $312,000.00. Following the transaction, the director now owns 245,433 shares of the company's stock, valued at approximately $7,657,509.60. This represents a 4.25% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.10% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on CNX. Bank of America reduced their price target on CNX Resources from $32.00 to $27.00 and set an "underperform" rating for the company in a research report on Tuesday, April 1st. Cowen reiterated a "hold" rating on shares of CNX Resources in a research note on Friday, April 25th. Piper Sandler increased their target price on CNX Resources from $21.00 to $25.00 and gave the stock an "underweight" rating in a research note on Tuesday, May 13th. Scotiabank upgraded CNX Resources from a "sector underperform" rating to a "sector perform" rating and set a $33.00 price objective on the stock in a research note on Friday, April 11th. Finally, Roth Capital set a $30.00 price objective on CNX Resources in a research note on Thursday, January 23rd. Eight equities research 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's stock. Based on data from MarketBeat.com, CNX Resources has an average rating of "Hold" and an average target price of $31.58.

CNX Resources Trading Down 1.8%

NYSE CNX opened at $32.47 on Tuesday. The business's fifty day moving average is $30.76 and its 200 day moving average is $32.60. CNX Resources Co. has a twelve month low of $23.63 and a twelve month high of $41.93. The company has a market cap of $4.70 billion, a price-to-earnings ratio of -47.75, a price-to-earnings-growth ratio of 0.42 and a beta of 0.62. The company has a quick ratio of 0.32, a current ratio of 0.33 and a debt-to-equity ratio of 0.45.

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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