ProShare Advisors LLC Purchases 13,552 Shares of CNX Resources Co. (NYSE:CNX)

ProShare Advisors LLC raised its position in CNX Resources Co. (NYSE:CNX - Free Report) by 39.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,083 shares of the oil and gas producer's stock after purchasing an additional 13,552 shares during the quarter. ProShare Advisors LLC's holdings in CNX Resources were worth $1,763,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Congress Asset Management Co. raised its holdings in shares of CNX Resources by 7.2% during the 4th quarter. Congress Asset Management Co. now owns 266,447 shares of the oil and gas producer's stock valued at $9,771,000 after buying an additional 17,951 shares during the period. Convergence Investment Partners LLC acquired a new stake in CNX Resources during the 4th quarter valued at approximately $1,556,000. Charles Schwab Investment Management Inc. grew its stake 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 valued at $73,357,000 after purchasing an additional 139,647 shares in the last quarter. Wakefield Asset Management LLLP acquired a new stake in CNX Resources during the 4th quarter valued at approximately $1,047,000. Finally, Assetmark Inc. grew its stake in CNX Resources by 2.2% during the 4th 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 in the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at CNX Resources

In related news, Director J. Palmer Clarkson acquired 10,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was acquired at an average cost of $31.20 per share, with a total value of $312,000.00. Following the completion of the purchase, the director now directly owns 245,433 shares in the company, valued at approximately $7,657,509.60. This trade represents a 4.25% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.10% of the stock is owned by insiders.

CNX Resources Stock Up 1.1%

NYSE:CNX traded up $0.34 during trading hours on Tuesday, hitting $31.98. 216,805 shares of the company's stock traded hands, compared to its average volume of 2,652,980. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.32 and a current ratio of 0.33. CNX Resources Co. has a twelve month low of $23.63 and a twelve month high of $41.93. The stock's fifty day moving average price is $30.83 and its two-hundred day moving average price is $32.43. The firm has a market cap of $4.63 billion, a P/E ratio of -47.04, a P/E/G ratio of 0.42 and a beta of 0.62.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CNX. Morgan Stanley restated an "underweight" rating and set a $31.00 price objective on shares of CNX Resources in a research note on Tuesday, April 15th. Stephens upgraded CNX Resources from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $35.00 to $48.00 in a research report on Tuesday, March 18th. Bank of America decreased their target price 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. Mizuho lifted their target price on CNX Resources from $35.00 to $36.00 and gave the stock an "underperform" rating in a research report on Tuesday, May 13th. Finally, Scotiabank upgraded CNX Resources from a "sector underperform" rating to a "sector perform" rating and set a $33.00 target price for the company in a research report on Friday, April 11th. Eight investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, CNX Resources currently has an average rating of "Hold" and an average price target of $31.58.

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.