Vident Advisory LLC Takes $725,000 Position in 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 its most recent disclosure with the Securities & Exchange Commission. The firm acquired 23,022 shares of the oil and gas producer's stock, valued at approximately $725,000.

A number of other large investors have also recently made changes to their positions in the business. Magnetar Financial LLC bought a new position in shares of CNX Resources in the first quarter valued at $257,000. Canada Pension Plan Investment Board lifted its stake in shares of CNX Resources by 201.7% in the first quarter. Canada Pension Plan Investment Board now owns 288,700 shares of the oil and gas producer's stock valued at $9,088,000 after buying an additional 193,000 shares in the last quarter. Trexquant Investment LP bought a new position in shares of CNX Resources during the first quarter valued at about $14,077,000. Landscape Capital Management L.L.C. bought a new position in shares of CNX Resources during the first quarter valued at about $1,032,000. Finally, Rafferty Asset Management LLC lifted its position in shares of CNX Resources by 7.0% during the first quarter. Rafferty Asset Management LLC now owns 183,617 shares of the oil and gas producer's stock valued at $5,780,000 after purchasing an additional 12,001 shares in the last quarter. 95.16% of the stock is owned by institutional investors.

Analyst Ratings Changes

CNX has been the topic of a number of recent analyst reports. Mizuho raised their price target on shares of CNX Resources from $35.00 to $36.00 and gave the company an "underperform" rating in a research report on Tuesday, May 13th. Scotiabank reissued a "sector perform" rating and set a $35.00 price target (up from $33.00) on shares of CNX Resources in a research report on Friday, July 11th. TD Cowen raised shares of CNX Resources to a "hold" rating in a research report on Monday, July 7th. Barclays started coverage on shares of CNX Resources in a research report on Monday, July 7th. They set an "equal weight" rating and a $33.00 price target on the stock. Finally, Piper Sandler decreased their price objective on shares of CNX Resources from $26.00 to $24.00 and set an "underweight" rating for the company in a report on Thursday, August 14th. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and seven have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Reduce" and a consensus target price of $31.77.

CNX Resources Stock Performance

Shares of CNX traded up $0.31 during trading hours on Wednesday, hitting $29.41. The company's stock had a trading volume of 709,815 shares, compared to its average volume of 2,541,844. The company has a market cap of $4.16 billion, a price-to-earnings ratio of 49.81, a PEG ratio of 0.26 and a beta of 0.60. 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 business has a 50 day simple moving average of $30.54 and a two-hundred day simple moving average of $30.97. CNX Resources Corporation. has a 52-week low of $26.58 and a 52-week high of $41.93.

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.