Victory Capital Management Inc. Has $4.49 Million Stock Position in CNX Resources Corporation. (NYSE:CNX)

Key Points

• Victory Capital Management Inc. increased its stake in CNX Resources Corporation by 75.6%, now holding 142,658 shares valued at approximately $4.49 million.
• Insider trading saw Director J. Palmer Clarkson purchase 10,000 shares at $31.20 each, raising his ownership by 4.25% and totaling nearly $7.66 million.
• Research analysts have mixed opinions on CNX Resources, with a consensus rating of "Hold" and target prices ranging from $21.00 to $32.00.

Victory Capital Management Inc. raised its holdings in CNX Resources Corporation. (NYSE:CNX - Free Report) by 75.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 142,658 shares of the oil and gas producer's stock after buying an additional 61,438 shares during the period. Victory Capital Management Inc. owned 0.10% of CNX Resources worth $4,491,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bessemer Group Inc. raised its holdings in CNX Resources by 131.5% during the fourth quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer's stock worth $34,000 after acquiring an additional 526 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of CNX Resources during the 1st quarter worth approximately $61,000. Sound Income Strategies LLC acquired a new stake in shares of CNX Resources in the 1st quarter valued at approximately $63,000. UMB Bank n.a. grew its stake in shares of CNX Resources by 59.7% in the first quarter. UMB Bank n.a. now owns 2,062 shares of the oil and gas producer's stock valued at $65,000 after buying an additional 771 shares in the last quarter. Finally, Ameriflex Group Inc. acquired a new position in CNX Resources during the fourth quarter worth $88,000. 95.16% of the stock is owned by institutional investors.

Insider Transactions at CNX Resources

In other news, Director J. Palmer Clarkson purchased 10,000 shares of the business's stock in a transaction on Monday, May 12th. The shares were acquired at an average price of $31.20 per share, with a total value of $312,000.00. Following the completion of the transaction, the director owned 245,433 shares of the company's stock, valued at $7,657,509.60. The trade was a 4.25% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.10% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CNX. Piper Sandler upped their target price on shares of CNX Resources from $21.00 to $25.00 and gave the company an "underweight" rating in a report on Tuesday, May 13th. Morgan Stanley restated an "underweight" rating and issued a $31.00 price target on shares of CNX Resources in a research note on Tuesday, April 15th. Bank of America cut their price target on CNX Resources from $32.00 to $27.00 and set an "underperform" rating for the company in a report on Tuesday, April 1st. Barclays began coverage on shares of CNX Resources in a report on Monday, July 7th. They issued an "equal weight" rating and a $33.00 price objective on the stock. Finally, Cowen reiterated a "hold" rating on shares of CNX Resources in a research note on Friday, April 25th. Eight analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $31.85.

CNX Resources Trading Down 0.7%

CNX traded down $0.22 during trading on Wednesday, reaching $30.09. 2,728,651 shares of the company's stock were exchanged, compared to its average volume of 2,339,116. The company has a current ratio of 0.33, a quick ratio of 0.30 and a debt-to-equity ratio of 0.56. CNX Resources Corporation. has a one year low of $23.85 and a one year high of $41.93. The stock has a market capitalization of $4.26 billion, a PE ratio of 51.00, a price-to-earnings-growth ratio of 0.30 and a beta of 0.66. The firm has a fifty day moving average price of $32.63 and a two-hundred day moving average price of $31.04.

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.