Vident Advisory LLC Buys Shares of 23,022 CNX Resources Corporation. $CNX

Key Points

• Vident Advisory LLC has acquired a new position in CNX Resources Corporation, purchasing 23,022 shares valued at approximately $725,000.
• Several other institutional investors have also increased their stakes, with notable investments from Allspring Global Investments and HighTower Advisors among others, reflecting a strong interest in the stock.
• CNX Resources currently has a consensus price target of $31.77, with varying ratings from analysts including one "Buy," eight "Hold," and seven "Sell" ratings.

Vident Advisory LLC acquired a new stake in 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 firm acquired 23,022 shares of the oil and gas producer's stock, valued at approximately $725,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. purchased a new position in CNX Resources in the 1st quarter valued at $61,000. Sound Income Strategies LLC purchased a new position in shares of CNX Resources during the 1st quarter worth $63,000. UMB Bank n.a. raised its holdings in shares of CNX Resources by 59.7% during the 1st quarter. UMB Bank n.a. now owns 2,062 shares of the oil and gas producer's stock worth $65,000 after acquiring an additional 771 shares during the period. Ameriflex Group Inc. purchased a new position in shares of CNX Resources during the 4th quarter worth $88,000. Finally, Farther Finance Advisors LLC raised its holdings in shares of CNX Resources by 21.0% during the 1st quarter. Farther Finance Advisors LLC now owns 2,931 shares of the oil and gas producer's stock worth $93,000 after acquiring an additional 508 shares during the period. Hedge funds and other institutional investors own 95.16% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Piper Sandler reduced their price target on CNX Resources from $26.00 to $24.00 and set an "underweight" rating on the stock in a report on Thursday, August 14th. Scotiabank reiterated a "sector perform" rating and set 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 report on Monday, July 7th. Finally, Barclays assumed coverage on CNX Resources in a report on Monday, July 7th. They set an "equal weight" rating and a $33.00 price target on the stock. One research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and seven have assigned a Sell rating to the company. Based on data from MarketBeat, CNX Resources presently has a consensus rating of "Reduce" and an average target price of $31.77.

CNX Resources Trading Up 2.1%

NYSE CNX traded up $0.61 during trading on Thursday, hitting $29.89. The stock had a trading volume of 1,481,429 shares, compared to its average volume of 1,390,922. The company has a market capitalization of $4.23 billion, a PE ratio of 50.66, a PEG ratio of 0.26 and a beta of 0.60. The company has a quick ratio of 0.30, a current ratio of 0.33 and a debt-to-equity ratio of 0.56. The firm has a 50 day moving average price of $30.44 and a 200 day moving average price of $30.96. CNX Resources Corporation. has a twelve month low of $26.85 and a twelve month high of $41.93.

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.