Waldron Private Wealth LLC Acquires 71,979 Shares of CNX Resources Corporation. $CNX

Key Points

• Waldron Private Wealth opened a new CNX Resources position, acquiring 71,979 shares valued at approximately $2.24 million in the third quarter.
• Institutional investors and hedge funds own 95.16% of CNX shares; several other firms also initiated or increased positions.
• Analyst sentiment is cautious: nine analysts rate the stock Hold and three rate it Sell, with an average price target of $34.88. CNX recently traded at $34.99.

Waldron Private Wealth LLC acquired a new stake in CNX Resources Corporation. (NYSE:CNX - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 71,979 shares of the oil and gas producer's stock, valued at approximately $2,244,000.

Other hedge funds have also recently made changes to their positions in the company. Jupiter Topco LLC bought a new position in CNX Resources in the 2nd quarter valued at about $2,019,000. Wellington Management Group LLP boosted its stake in CNX Resources by 192.4% during the 2nd quarter. Wellington Management Group LLP now owns 924,662 shares of the oil and gas producer's stock valued at $31,374,000 after purchasing an additional 608,386 shares during the last quarter. Tidal Investments LLC boosted its stake in CNX Resources by 149.8% during the 2nd quarter. Tidal Investments LLC now owns 56,778 shares of the oil and gas producer's stock valued at $1,926,000 after purchasing an additional 34,049 shares during the last quarter. Corient Private Wealth LP acquired a new position in CNX Resources during the 2nd quarter valued at about $1,110,000. Finally, Bank of America Corp DE bought a new stake in CNX Resources during the 2nd quarter worth approximately $87,949,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CNX has been the subject of several analyst reports. Scotiabank began coverage on CNX Resources in a research note on Wednesday, October 14th. They issued a "sector perform" rating and a $34.00 price objective for the company. Mizuho cut their target price on CNX Resources from $42.00 to $38.00 and set a "neutral" rating on the stock in a research report on Thursday, October 15th. Benchmark reiterated a "hold" rating on shares of CNX Resources in a report on Thursday, October 29th. Morgan Stanley upped their price target on CNX Resources from $32.00 to $34.00 and gave the stock an "underweight" rating in a report on Thursday, October 15th. Finally, Truist Financial increased their price target on CNX Resources from $34.00 to $39.00 and gave the company a "hold" rating in a research report on Thursday, October 29th. Nine equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Reduce" and an average target price of $34.88.

CNX Resources Stock Down 0.9%

CNX Resources stock traded down $0.31 during midday trading on Friday, hitting $34.99. 1,525,999 shares of the stock were exchanged, compared to its average volume of 1,659,147. CNX Resources Corporation. has a 52-week low of $30.77 and a 52-week high of $43.62. The stock has a market capitalization of $5.00 billion, a price-to-earnings ratio of 5.93 and a beta of 0.61. The business's 50-day moving average price is $35.04 and its 200-day moving average price is $36.39. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.48.

CNX Resources Profile

CNX Resources Corporation NYSE: CNX is an independent natural gas exploration and production company focused on the Appalachian Basin. The company develops and produces natural gas from unconventional shale formations, with its operations concentrated in the Marcellus and Utica shale areas.

CNX's activities include leasing, drilling, completing and operating natural gas wells, as well as managing related gathering and infrastructure arrangements used to transport production to market.

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