Rafferty Asset Management LLC Boosts Stake in CNX Resources Corporation. $CNX

Key Points

• Rafferty Asset Management LLC increased its holdings in CNX Resources Corporation by purchasing an additional 12,001 shares, bringing their total to 183,617 shares valued at approximately $5.78 million.
• Other institutional investors, including Campbell & CO Investment Adviser LLC and Jump Financial LLC, significantly increased their positions in CNX Resources during the 1st quarter, with some holdings increasing by nearly 2,000%.
• As of now, the stock has an average rating of "Reduce" from analysts, with a consensus price target of $31.77, reflecting mixed sentiments in the market regarding its future performance.

Rafferty Asset Management LLC lifted its stake in shares of CNX Resources Corporation. (NYSE:CNX - Free Report) by 7.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 183,617 shares of the oil and gas producer's stock after acquiring an additional 12,001 shares during the period. Rafferty Asset Management LLC owned 0.13% of CNX Resources worth $5,780,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. State of Alaska Department of Revenue grew its position in shares of CNX Resources by 2.4% during the first quarter. State of Alaska Department of Revenue now owns 17,437 shares of the oil and gas producer's stock worth $548,000 after buying an additional 415 shares in the last quarter. Fox Run Management L.L.C. lifted its stake in CNX Resources by 2.7% in the first quarter. Fox Run Management L.L.C. now owns 16,317 shares of the oil and gas producer's stock valued at $514,000 after buying an additional 432 shares during the last quarter. Pullen Investment Management LLC lifted its stake in CNX Resources by 1.5% in the first quarter. Pullen Investment Management LLC now owns 32,633 shares of the oil and gas producer's stock valued at $1,027,000 after buying an additional 482 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of CNX Resources by 21.0% during the first quarter. Farther Finance Advisors LLC now owns 2,931 shares of the oil and gas producer's stock valued at $93,000 after purchasing an additional 508 shares in the last quarter. Finally, SummerHaven Investment Management LLC grew its holdings in CNX Resources by 1.8% during the first quarter. SummerHaven Investment Management LLC now owns 30,284 shares of the oil and gas producer's stock worth $953,000 after acquiring an additional 525 shares during the period. Hedge funds and other institutional investors own 95.16% of the company's stock.

Wall Street Analyst Weigh In

CNX has been the topic of several research analyst reports. Mizuho lifted their target price on CNX Resources from $35.00 to $36.00 and gave the company an "underperform" rating in a research note on Tuesday, May 13th. 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. Barclays began coverage on CNX Resources in a report on Monday, July 7th. They set an "equal weight" rating and a $33.00 price target for the company. TD Cowen upgraded CNX Resources to a "hold" rating in a research note on Monday, July 7th. Finally, Scotiabank reiterated 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. One equities research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and seven have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Reduce" and an average price target of $31.77.

CNX Resources Price Performance

Shares of CNX traded up $0.35 during midday trading on Tuesday, reaching $29.55. The stock had a trading volume of 661,925 shares, compared to its average volume of 2,583,008. CNX Resources Corporation. has a 12-month low of $26.50 and a 12-month high of $41.93. The company has a current ratio of 0.33, a quick ratio of 0.30 and a debt-to-equity ratio of 0.56. The company's 50-day moving average is $31.05 and its 200 day moving average is $31.01. The company has a market capitalization of $4.18 billion, a price-to-earnings ratio of 50.06, a price-to-earnings-growth ratio of 0.26 and a beta of 0.60.

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.