Assetmark Inc. Acquires 10,224 Shares of CNX Resources Corporation. $CNX

Assetmark Inc. lifted its stake in CNX Resources Corporation. (NYSE:CNX) by 1.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 899,631 shares of the oil and gas producer’s stock after purchasing an additional 10,224 shares during the quarter. Assetmark Inc.’s holdings in CNX Resources were worth $30,300,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new position in shares of CNX Resources in the 1st quarter worth about $718,000. Principal Financial Group Inc. increased its stake in CNX Resources by 1.6% during the 1st quarter. Principal Financial Group Inc. now owns 472,300 shares of the oil and gas producer’s stock valued at $14,868,000 after purchasing an additional 7,440 shares in the last quarter. HighTower Advisors LLC raised its holdings in CNX Resources by 59.7% in the first quarter. HighTower Advisors LLC now owns 46,592 shares of the oil and gas producer’s stock worth $1,467,000 after buying an additional 17,424 shares during the last quarter. Bridges Investment Management Inc. raised its holdings in CNX Resources by 111.3% in the first quarter. Bridges Investment Management Inc. now owns 44,673 shares of the oil and gas producer’s stock worth $1,406,000 after buying an additional 23,531 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of CNX Resources by 25.0% in the first quarter. KBC Group NV now owns 7,768 shares of the oil and gas producer’s stock worth $245,000 after buying an additional 1,552 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

CNX Resources Trading Up 2.4%

Shares of NYSE:CNX opened at $32.52 on Friday. The stock’s 50-day simple moving average is $31.16 and its two-hundred day simple moving average is $31.37. The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of 55.12, a PEG ratio of 0.35 and a beta of 0.55. CNX Resources Corporation. has a 52-week low of $27.00 and a 52-week high of $41.93. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.30 and a current ratio of 0.33.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CNX. Zacks Research downgraded shares of CNX Resources from a “hold” rating to a “strong sell” rating in a research report on Monday, October 6th. Morgan Stanley reduced their target price on CNX Resources from $32.00 to $31.00 and set an “underweight” rating for the company in a report on Tuesday, October 14th. Siebert Williams Shank assumed coverage on CNX Resources in a research note on Monday, September 15th. They issued a “hold” rating and a $32.00 price target for the company. Scotiabank increased their price objective on CNX Resources from $35.00 to $36.00 and gave the company a “sector perform” rating in a research report on Thursday, October 9th. Finally, Mizuho lifted their price objective on CNX Resources from $34.00 to $35.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. One equities research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $32.50.

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.