United Services Automobile Association Acquires Shares of 9,933 CNX Resources Corporation. $CNX

Key Points

• United Services Automobile Association acquired a new stake in CNX Resources Corporation, purchasing 9,933 shares valued at approximately $314,000.
• Institutional investors and hedge funds now own 95.16% of CNX Resources, indicating strong institutional interest in the company.
• CNX Resources has received mixed analyst ratings, with a consensus rating of "Reduce" and an average price target of $31.77.

United Services Automobile Association bought a new stake in shares of CNX Resources Corporation. (NYSE:CNX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 9,933 shares of the oil and gas producer's stock, valued at approximately $314,000.

A number of other large investors also recently modified their holdings of CNX. Deutsche Bank AG lifted its stake in shares of CNX Resources by 2.2% during the 4th quarter. Deutsche Bank AG now owns 252,820 shares of the oil and gas producer's stock valued at $9,271,000 after buying an additional 5,473 shares in the last quarter. Focus Partners Wealth purchased a new position in shares of CNX Resources during the 4th quarter valued at $207,000. Graham Capital Management L.P. purchased a new position in shares of CNX Resources during the 4th quarter valued at $289,000. Gotham Asset Management LLC purchased a new position in shares of CNX Resources during the 4th quarter valued at $1,279,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of CNX Resources by 2.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,093 shares of the oil and gas producer's stock valued at $3,047,000 after buying an additional 2,216 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Piper Sandler lowered their target price on shares of CNX Resources from $26.00 to $24.00 and set an "underweight" rating on the stock in a research note on Thursday, August 14th. Mizuho upgraded shares of CNX Resources from an "underperform" rating to a "neutral" rating and reduced their target price for the stock from $36.00 to $34.00 in a report on Monday. Scotiabank restated 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. Siebert Williams Shank initiated coverage on shares of CNX Resources in a report on Monday. They issued a "hold" rating and a $32.00 target price on the stock. Finally, TD Cowen upgraded shares of CNX Resources to a "hold" rating in a report on Monday, July 7th. One research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus target price of $31.64.

CNX Resources Trading Up 0.2%

NYSE:CNX traded up $0.08 during mid-day trading on Thursday, hitting $31.03. 2,402,191 shares of the stock traded hands, compared to its average volume of 1,389,322. The stock has a market capitalization of $4.39 billion, a price-to-earnings ratio of 52.59, a PEG ratio of 0.28 and a beta of 0.60. CNX Resources Corporation. has a 52 week low of $27.00 and a 52 week high of $41.93. The firm's 50 day moving average is $30.24 and its two-hundred day moving average is $31.00. The company has a quick ratio of 0.30, a current ratio of 0.33 and a debt-to-equity ratio of 0.56.

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.