Nuveen LLC Invests $35.57 Million in CNX Resources Corporation. $CNX

Key Points

• Nuveen LLC has invested approximately $35.57 million in CNX Resources Corporation, purchasing over 1.1 million shares during the first quarter.
• Institutional investors own 95.16% of CNX Resources’ stock, indicating strong institutional interest in the company.
• The company currently has a market capitalization of $4.07 billion and a consensus price target of $31.77 according to analysts.

Nuveen LLC bought a new position in CNX Resources Corporation. (NYSE:CNX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,129,815 shares of the oil and gas producer's stock, valued at approximately $35,567,000. Nuveen LLC owned about 0.78% of CNX Resources at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in shares of CNX Resources during the 4th quarter worth approximately $14,268,000. First Trust Advisors LP grew its holdings in shares of CNX Resources by 12.0% in the fourth quarter. First Trust Advisors LP now owns 645,591 shares of the oil and gas producer's stock valued at $23,674,000 after acquiring an additional 69,280 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of CNX Resources by 31.8% in the fourth quarter. Capital Research Global Investors now owns 1,450,000 shares of the oil and gas producer's stock valued at $53,172,000 after acquiring an additional 350,000 shares in the last quarter. MetLife Investment Management LLC grew its holdings in shares of CNX Resources by 5.5% in the fourth quarter. MetLife Investment Management LLC now owns 168,910 shares of the oil and gas producer's stock valued at $6,194,000 after acquiring an additional 8,875 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of CNX Resources by 254.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 26,105 shares of the oil and gas producer's stock valued at $957,000 after acquiring an additional 18,733 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company's stock.

CNX Resources Stock Performance

NYSE:CNX traded up $0.13 during trading hours on Friday, reaching $28.78. The stock had a trading volume of 251,182 shares, compared to its average volume of 2,627,455. CNX Resources Corporation. has a 12-month low of $26.50 and a 12-month high of $41.93. The stock has a 50 day simple moving average of $31.71 and a 200 day simple moving average of $31.02. 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 stock has a market cap of $4.07 billion, a P/E ratio of 48.76, a price-to-earnings-growth ratio of 0.25 and a beta of 0.64.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CNX. Scotiabank reaffirmed a "sector perform" rating and issued a $35.00 target price (up from $33.00) on shares of CNX Resources in a report on Friday, July 11th. TD Cowen raised CNX Resources to a "hold" rating in a report on Monday, July 7th. Mizuho upped their target price on CNX Resources from $35.00 to $36.00 and gave the company an "underperform" rating in a report on Tuesday, May 13th. Cowen reaffirmed a "hold" rating on shares of CNX Resources in a report on Friday, April 25th. Finally, Piper Sandler decreased their target price on CNX Resources from $26.00 to $24.00 and set an "underweight" rating for the company in a research report on Thursday, August 14th. One equities research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and seven have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and an average price target 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.