Principal Financial Group Inc. Buys 287,240 Shares of CNX Resources Corporation. $CNX

Principal Financial Group Inc. lifted its position in CNX Resources Corporation. (NYSE:CNX) by 98.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 579,120 shares of the oil and gas producer’s stock after purchasing an additional 287,240 shares during the period. Principal Financial Group Inc. owned 0.41% of CNX Resources worth $22,325,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in CNX Resources by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,745,218 shares of the oil and gas producer’s stock valued at $321,570,000 after purchasing an additional 118,817 shares in the last quarter. Capital Research Global Investors grew its position in shares of CNX Resources by 20.6% during the 4th quarter. Capital Research Global Investors now owns 4,765,039 shares of the oil and gas producer’s stock worth $175,210,000 after buying an additional 815,039 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of CNX Resources by 45.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,021,403 shares of the oil and gas producer’s stock valued at $74,327,000 after buying an additional 633,539 shares during the period. Morgan Stanley increased its stake in shares of CNX Resources by 2.0% during the fourth quarter. Morgan Stanley now owns 1,860,631 shares of the oil and gas producer’s stock valued at $68,415,000 after buying an additional 35,932 shares during the period. Finally, Adage Capital Partners GP L.L.C. raised its holdings in shares of CNX Resources by 16.7% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,400,000 shares of the oil and gas producer’s stock valued at $47,152,000 after acquiring an additional 200,000 shares in the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at CNX Resources

In other news, Director William N. Thorndike, Jr. sold 28,800 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $38.25, for a total value of $1,101,600.00. Following the sale, the director directly owned 426,585 shares in the company, valued at approximately $16,316,876.25. This trade represents a 6.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.03% of the company’s stock.

CNX Resources Price Performance

Shares of CNX stock opened at $33.72 on Wednesday. The stock’s 50-day moving average is $33.81 and its 200 day moving average is $37.02. CNX Resources Corporation. has a 1-year low of $27.72 and a 1-year high of $43.62. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.49 and a quick ratio of 0.46. The company has a market cap of $4.77 billion, a P/E ratio of 4.68 and a beta of 0.59.

Analysts Set New Price Targets

Several research analysts have issued reports on CNX shares. Barclays dropped their target price on shares of CNX Resources from $36.00 to $35.00 and set an “underweight” rating on the stock in a report on Tuesday, May 26th. Mizuho reduced their price target on shares of CNX Resources from $44.00 to $42.00 and set a “neutral” rating for the company in a report on Wednesday, May 27th. Truist Financial raised shares of CNX Resources from a “sell” rating to a “hold” rating and set a $35.00 price target for the company in a research report on Wednesday, July 15th. Zacks Research downgraded shares of CNX Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Finally, Tudor Pickering raised shares of CNX Resources from a “strong sell” rating to a “hold” rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $35.44.

CNX Resources Company Profile

CNX Resources Corporation is a natural gas and natural gas liquids producer with operations concentrated in the Appalachian Basin. Established as an independent, publicly traded entity in 2018 following its spinoff from Consol Energy, the company focuses on the exploration, development and production of hydrocarbon resources in the Marcellus and Utica shales across Pennsylvania, West Virginia and Ohio.

In addition to its upstream activities, CNX Resources has invested in midstream infrastructure through its subsidiary that gathers, processes and transports natural gas.