MetLife Investment Management LLC Buys 8,875 Shares of CNX Resources Co. (NYSE:CNX)

MetLife Investment Management LLC lifted its stake in CNX Resources Co. (NYSE:CNX - Free Report) by 5.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 168,910 shares of the oil and gas producer's stock after acquiring an additional 8,875 shares during the period. MetLife Investment Management LLC owned 0.11% of CNX Resources worth $6,194,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Research Global Investors increased its stake in CNX Resources by 31.8% in the fourth quarter. Capital Research Global Investors now owns 1,450,000 shares of the oil and gas producer's stock valued at $53,172,000 after acquiring an additional 350,000 shares during the period. First Trust Advisors LP raised its stake in shares of CNX Resources by 12.0% in the fourth quarter. First Trust Advisors LP now owns 645,591 shares of the oil and gas producer's stock worth $23,674,000 after acquiring an additional 69,280 shares during the last quarter. EAM Investors LLC acquired a new position in CNX Resources during the 4th quarter worth $4,651,000. Bridgewater Associates LP acquired a new stake in CNX Resources during the 4th quarter worth $13,430,000. Finally, XTX Topco Ltd increased its stake in shares of CNX Resources by 25.5% in the 4th quarter. XTX Topco Ltd now owns 30,957 shares of the oil and gas producer's stock valued at $1,135,000 after acquiring an additional 6,287 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CNX shares. Stephens raised shares of CNX Resources from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $35.00 to $48.00 in a research report on Tuesday, March 18th. Piper Sandler reduced their price target on CNX Resources from $22.00 to $21.00 and set an "underweight" rating for the company in a research report on Tuesday, April 22nd. Mizuho boosted their price target on CNX Resources from $34.00 to $35.00 and gave the stock an "underperform" rating in a research report on Monday, April 7th. JPMorgan Chase & Co. raised their target price on shares of CNX Resources from $32.00 to $33.00 and gave the company an "underweight" rating in a research note on Thursday, March 13th. Finally, TD Cowen began coverage on shares of CNX Resources in a research note on Wednesday, January 15th. They issued a "hold" rating and a $27.00 price target for the company. Eight investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, CNX Resources has a consensus rating of "Hold" and an average target price of $31.17.

CNX Resources Stock Performance

Shares of CNX stock traded up $0.22 on Monday, hitting $29.12. 443,821 shares of the stock were exchanged, compared to its average volume of 2,666,529. The firm's 50 day moving average is $30.27 and its two-hundred day moving average is $33.07. CNX Resources Co. has a one year low of $22.82 and a one year high of $41.93. The firm has a market capitalization of $4.29 billion, a PE ratio of -42.79, a P/E/G ratio of 0.42 and a beta of 1.33. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 0.45.

CNX Resources (NYSE:CNX - Get Free Report) last posted its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.14. CNX Resources had a negative net margin of 7.14% and a positive return on equity of 6.72%. Sell-side analysts expect that CNX Resources Co. will post 2.18 earnings per share for the current fiscal year.

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.