96,457 Shares in CNX Resources Co. (NYSE:CNX) Acquired by Voloridge Investment Management LLC

Voloridge Investment Management LLC acquired a new position in CNX Resources Co. (NYSE:CNX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 96,457 shares of the oil and gas producer's stock, valued at approximately $3,537,000. Voloridge Investment Management LLC owned 0.06% of CNX Resources as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Congress Asset Management Co. increased its holdings in shares of CNX Resources by 7.2% in the 4th quarter. Congress Asset Management Co. now owns 266,447 shares of the oil and gas producer's stock worth $9,771,000 after acquiring an additional 17,951 shares during the period. Convergence Investment Partners LLC acquired a new stake in shares of CNX Resources in the 4th quarter worth about $1,556,000. Charles Schwab Investment Management Inc. increased its stake in CNX Resources by 7.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,000,464 shares of the oil and gas producer's stock valued at $73,357,000 after buying an additional 139,647 shares during the period. Wakefield Asset Management LLLP acquired a new position in CNX Resources during the 4th quarter valued at about $1,047,000. Finally, Assetmark Inc. increased its stake in CNX Resources by 2.2% during the 4th quarter. Assetmark Inc. now owns 885,429 shares of the oil and gas producer's stock valued at $32,469,000 after buying an additional 19,309 shares during the period. Institutional investors and hedge funds own 95.16% of the company's stock.

CNX Resources Trading Up 3.1%

Shares of CNX traded up $0.97 during midday trading on Friday, hitting $32.29. The stock had a trading volume of 6,428,022 shares, compared to its average volume of 2,667,066. CNX Resources Co. has a fifty-two week low of $23.63 and a fifty-two week high of $41.93. The business has a 50-day simple moving average of $30.83 and a two-hundred day simple moving average of $32.32. The firm has a market cap of $4.67 billion, a P/E ratio of -47.48, a price-to-earnings-growth ratio of 0.42 and a beta of 0.62. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 0.45.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Cowen reissued a "hold" rating on shares of CNX Resources in a research note on Friday, April 25th. JPMorgan Chase & Co. raised their price objective on shares of CNX Resources from $32.00 to $33.00 and gave the company an "underweight" rating in a research report on Thursday, March 13th. Piper Sandler raised their price objective on shares of CNX Resources from $21.00 to $25.00 and gave the company an "underweight" rating in a research report on Tuesday, May 13th. Stephens upgraded shares of CNX Resources from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $35.00 to $48.00 in a research report on Tuesday, March 18th. Finally, Morgan Stanley restated an "underweight" rating and set a $31.00 price objective on shares of CNX Resources in a research report on Tuesday, April 15th. Eight investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $31.58.

Insiders Place Their Bets

In related news, Director J. Palmer Clarkson purchased 10,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was acquired at an average cost of $31.20 per share, for a total transaction of $312,000.00. Following the completion of the acquisition, the director now owns 245,433 shares in the company, valued at $7,657,509.60. This trade represents a 4.25% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.10% of the company's stock.

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.