Van ECK Associates Corp Acquires New Holdings in CNX Resources Co. (NYSE:CNX)

Van ECK Associates Corp bought a new stake in CNX Resources Co. (NYSE:CNX - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 48,017 shares of the oil and gas producer's stock, valued at approximately $960,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CNX. Neo Ivy Capital Management bought a new stake in shares of CNX Resources during the 3rd quarter valued at approximately $26,000. Adirondack Trust Co. bought a new stake in shares of CNX Resources during the 3rd quarter valued at approximately $54,000. Nomura Asset Management Co. Ltd. grew its holdings in shares of CNX Resources by 30.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,540 shares of the oil and gas producer's stock valued at $57,000 after purchasing an additional 590 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of CNX Resources by 1,924.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,454 shares of the oil and gas producer's stock valued at $213,000 after purchasing an additional 8,987 shares during the last quarter. Finally, Aigen Investment Management LP bought a new stake in shares of CNX Resources during the 3rd quarter valued at approximately $216,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

CNX Resources Trading Down 1.8 %

Shares of NYSE:CNX traded down $0.42 during trading on Friday, reaching $23.26. The stock had a trading volume of 2,046,845 shares, compared to its average volume of 2,516,398. The firm's fifty day moving average is $23.17 and its 200 day moving average is $21.45. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.51 and a current ratio of 0.53. CNX Resources Co. has a 52 week low of $15.08 and a 52 week high of $24.82. The stock has a market cap of $3.56 billion, a price-to-earnings ratio of 4.21 and a beta of 1.36.

Insider Activity

In related news, EVP Timothy Scott Bedard sold 1,226 shares of the business's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $20.83, for a total transaction of $25,537.58. Following the transaction, the executive vice president now owns 67,982 shares in the company, valued at approximately $1,416,065.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.10% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Truist Financial lifted their price target on shares of CNX Resources from $28.00 to $30.00 and gave the company a "buy" rating in a report on Friday, April 5th. Piper Sandler boosted their target price on shares of CNX Resources from $18.00 to $22.00 and gave the stock a "neutral" rating in a report on Friday, April 19th. Mizuho boosted their target price on shares of CNX Resources from $24.00 to $25.00 and gave the stock a "neutral" rating in a report on Thursday, April 11th. Scotiabank boosted their target price on shares of CNX Resources from $20.00 to $25.00 and gave the stock a "sector underperform" rating in a report on Thursday, April 11th. Finally, Roth Mkm boosted their target price on shares of CNX Resources from $18.00 to $22.00 and gave the stock a "neutral" rating in a report on Tuesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, CNX Resources presently has a consensus rating of "Hold" and an average target price of $24.43.

CNX Resources Company 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.