Strs Ohio Makes New Investment in CNX Resources Corporation. $CNX

Key Points

• Strs Ohio has acquired a new position in CNX Resources Corporation, purchasing 12,800 shares valued at approximately $403,000 during the first quarter.
• Institutional investors hold 95.16% of CNX's stock, reflecting significant interest from major investment firms including Nuveen LLC and Adage Capital Partners.
• CNX Resources shares are currently trading at $29.50, with a 12-month price range between $27.00 and $41.93, and various analysts giving it a consensus rating of "Reduce" with a target price of $31.64.

Strs Ohio acquired a new position in CNX Resources Corporation. (NYSE:CNX - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 12,800 shares of the oil and gas producer's stock, valued at approximately $403,000.

A number of other institutional investors have also recently added to or reduced their stakes in CNX. Nuveen LLC acquired a new position in CNX Resources in the 1st quarter worth $35,567,000. Adage Capital Partners GP L.L.C. raised its stake in shares of CNX Resources by 514.0% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,200,000 shares of the oil and gas producer's stock valued at $37,776,000 after purchasing an additional 1,004,545 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of CNX Resources by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 15,952,281 shares of the oil and gas producer's stock valued at $502,178,000 after purchasing an additional 665,289 shares in the last quarter. Corigliano Investment Advisers LLC acquired a new stake in shares of CNX Resources in the 1st quarter valued at about $16,151,000. Finally, Trexquant Investment LP acquired a new stake in shares of CNX Resources in the 1st quarter valued at about $14,077,000. Institutional investors and hedge funds own 95.16% of the company's stock.

CNX Resources Trading Down 2.8%

CNX Resources stock opened at $29.50 on Tuesday. The firm has a 50 day simple moving average of $30.06 and a 200-day simple moving average of $31.03. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.33 and a quick ratio of 0.30. The stock has a market capitalization of $4.17 billion, a PE ratio of 50.00, a price-to-earnings-growth ratio of 0.28 and a beta of 0.60. CNX Resources Corporation. has a 12-month low of $27.00 and a 12-month high of $41.93.

Analyst Upgrades and Downgrades

CNX has been the topic of a number of recent analyst reports. Siebert Williams Shank initiated coverage on shares of CNX Resources in a research note on Monday, September 15th. They issued a "hold" rating and a $32.00 target price on the stock. Barclays initiated coverage on shares of CNX Resources in a research note on Monday, July 7th. They issued an "equal weight" rating and a $33.00 target price on the stock. TD Cowen upgraded shares of CNX Resources to a "hold" rating in a research note on Monday, July 7th. Scotiabank restated a "sector perform" rating and issued a $35.00 target price (up previously from $33.00) on shares of CNX Resources in a research note on Friday, July 11th. Finally, Mizuho upgraded shares of CNX Resources from an "underperform" rating to a "neutral" rating and cut their target price for the company from $36.00 to $34.00 in a research note on Monday, September 15th. One equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and six have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of $31.64.

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.

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