CNX Resources Corporation. (NYSE:CNX) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its position in shares of CNX Resources Corporation. (NYSE:CNX) by 1.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 472,300 shares of the oil and gas producer’s stock after buying an additional 7,440 shares during the period. Principal Financial Group Inc. owned approximately 0.32% of CNX Resources worth $14,868,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CNX. Bessemer Group Inc. grew its stake in CNX Resources by 131.5% in the fourth quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer’s stock worth $34,000 after purchasing an additional 526 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in CNX Resources in the fourth quarter worth about $39,000. VSM Wealth Advisory LLC acquired a new position in CNX Resources in the fourth quarter worth about $55,000. Harbor Capital Advisors Inc. acquired a new position in CNX Resources in the first quarter worth about $61,000. Finally, Sound Income Strategies LLC acquired a new position in CNX Resources in the first quarter worth about $63,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on CNX shares. Barclays started coverage on CNX Resources in a research note on Monday, July 7th. They set an “equal weight” rating and a $33.00 price objective for the company. Bank of America cut their price target on CNX Resources from $32.00 to $27.00 and set an “underperform” rating on the stock in a report on Tuesday, April 1st. TD Cowen raised CNX Resources to a “hold” rating in a report on Monday, July 7th. Cowen reaffirmed a “hold” rating on shares of CNX Resources in a report on Friday, April 25th. Finally, Mizuho lifted their price target on CNX Resources from $35.00 to $36.00 and gave the company an “underperform” rating in a report on Tuesday, May 13th. Eight research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, CNX Resources currently has a consensus rating of “Hold” and an average target price of $31.85.

Insider Activity

In other CNX Resources news, Director J. Palmer Clarkson purchased 10,000 shares of the stock in a transaction dated Monday, May 12th. The shares were bought at an average price of $31.20 per share, with a total value of $312,000.00. Following the completion of the transaction, the director directly owned 245,433 shares in the company, valued at approximately $7,657,509.60. This trade represents a 4.25% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 3.10% of the stock is currently owned by company insiders.

CNX Resources Stock Up 2.0%

Shares of CNX stock opened at $34.00 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.25 and a current ratio of 0.27. The firm’s 50-day moving average is $32.43 and its 200-day moving average is $31.17. The stock has a market cap of $4.92 billion, a price-to-earnings ratio of -16.50, a PEG ratio of 0.33 and a beta of 0.66. CNX Resources Corporation. has a 52-week low of $23.85 and a 52-week high of $41.93.

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.