Northern Trust Corp Purchases 411,485 Shares of CNX Resources Co. (NYSE:CNX)

Northern Trust Corp lifted its position in CNX Resources Co. (NYSE:CNX - Free Report) by 20.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,421,387 shares of the oil and gas producer's stock after purchasing an additional 411,485 shares during the quarter. Northern Trust Corp owned about 1.62% of CNX Resources worth $88,792,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CNX. Congress Asset Management Co. increased its stake in 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 last quarter. World Investment Advisors LLC bought a new stake in CNX Resources during the third quarter valued at approximately $534,000. Convergence Investment Partners LLC bought a new stake in CNX Resources during the fourth quarter valued at approximately $1,556,000. Charles Schwab Investment Management Inc. grew its stake in CNX Resources by 7.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,000,464 shares of the oil and gas producer's stock worth $73,357,000 after buying an additional 139,647 shares in the last quarter. Finally, Wakefield Asset Management LLLP bought a new position in shares of CNX Resources in the 4th quarter worth $1,047,000. Institutional investors own 95.16% of the company's stock.

CNX Resources Trading Up 1.2 %

Shares of CNX traded up $0.37 during mid-day trading on Friday, hitting $31.32. 1,359,826 shares of the company's stock traded hands, compared to its average volume of 2,679,032. The company has a quick ratio of 0.32, a current ratio of 0.33 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $4.53 billion, a P/E ratio of -46.06, a PEG ratio of 0.42 and a beta of 0.62. The business's 50-day moving average price is $30.44 and its 200-day moving average price is $32.74. CNX Resources Co. has a 1 year low of $23.18 and a 1 year high of $41.93.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CNX. TD Cowen started coverage on shares of CNX Resources in a research report on Wednesday, January 15th. They issued a "hold" rating and a $27.00 target price for the company. Scotiabank upgraded CNX Resources from a "sector underperform" rating to a "sector perform" rating and set a $33.00 price objective on the stock in a research report on Friday, April 11th. Bank of America dropped their target price on CNX Resources from $32.00 to $27.00 and set an "underperform" rating for the company in a research report on Tuesday, April 1st. JPMorgan Chase & Co. lifted their price target on shares of CNX Resources from $32.00 to $33.00 and gave the stock an "underweight" rating in a research note on Thursday, March 13th. Finally, Stephens raised shares of CNX Resources from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $35.00 to $48.00 in a report on Tuesday, March 18th. Eight investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, CNX Resources currently has an average rating of "Hold" and an average price target of $31.17.

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.