Vanguard Group Inc. Raises Stock Holdings in CNX Resources Corporation. $CNX

Key Points

• Vanguard Group Inc. increased its ownership of CNX Resources Corporation by 4.4%, acquiring an additional 665,289 shares, bringing its total to approximately 15.95 million shares worth $502 million.
• The company has received mixed ratings from analysts, with a consensus rating of "Hold" and a target price averaging $31.77, reflecting uncertainty in its future performance.
• As of the recent trading day, CNX Resources stock rose 0.3% reaching $28.81, with a market capitalization of $4.07 billion and a significant trading volume of 1,625,287 shares.

Vanguard Group Inc. grew its stake in shares of CNX Resources Corporation. (NYSE:CNX - Free Report) by 4.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,952,281 shares of the oil and gas producer's stock after acquiring an additional 665,289 shares during the quarter. Vanguard Group Inc. owned about 11.02% of CNX Resources worth $502,178,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Raymond James Financial Inc. bought a new stake in CNX Resources during the 4th quarter valued at approximately $14,268,000. Bessemer Group Inc. increased its stake in CNX Resources by 131.5% in the 4th quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer's stock worth $34,000 after buying an additional 526 shares during the period. Bridgewater Associates LP bought a new stake in shares of CNX Resources during the fourth quarter valued at approximately $13,430,000. First Trust Advisors LP grew its position in shares of CNX Resources by 12.0% during the 4th quarter. First Trust Advisors LP now owns 645,591 shares of the oil and gas producer's stock worth $23,674,000 after buying an additional 69,280 shares in the last quarter. Finally, Capital Research Global Investors grew its holdings in CNX Resources by 31.8% during the 4th quarter. Capital Research Global Investors now owns 1,450,000 shares of the oil and gas producer's stock worth $53,172,000 after acquiring an additional 350,000 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CNX shares. Barclays started coverage on CNX Resources in a report on Monday, July 7th. They issued an "equal weight" rating and a $33.00 price target on the stock. Scotiabank reaffirmed 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. TD Cowen upgraded CNX Resources to a "hold" rating in a research report on Monday, July 7th. Mizuho lifted their price objective on CNX Resources from $35.00 to $36.00 and gave the company an "underperform" rating in a research note on Tuesday, May 13th. Finally, Cowen restated a "hold" rating on shares of CNX Resources in a research report on Friday, April 25th. Eight analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, CNX Resources presently has an average rating of "Hold" and a consensus price target of $31.77.

CNX Resources Trading Up 0.2%

Shares of CNX traded up $0.05 during midday trading on Tuesday, reaching $28.16. The company had a trading volume of 226,313 shares, compared to its average volume of 2,645,219. 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 Corporation. has a 1-year low of $26.45 and a 1-year high of $41.93. The firm has a 50 day simple moving average of $31.93 and a 200-day simple moving average of $31.05. The stock has a market cap of $3.98 billion, a PE ratio of 47.79, a price-to-earnings-growth ratio of 0.25 and a beta of 0.64.

About CNX Resources

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.