J. Palmer Clarkson Purchases 10,000 Shares of CNX Resources Co. (NYSE:CNX) Stock

CNX Resources Co. (NYSE:CNX) Director J. Palmer Clarkson bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was acquired at an average price of $31.20 per share, for a total transaction of $312,000.00. Following the transaction, the director now owns 245,433 shares in the company, valued at $7,657,509.60. This trade represents a 4.25% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

CNX Resources Trading Down 0.6%

NYSE:CNX opened at $32.43 on Thursday. CNX Resources Co. has a one year low of $23.63 and a one year high of $41.93. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32. The company’s 50-day simple moving average is $30.59 and its 200 day simple moving average is $32.67. The firm has a market capitalization of $4.69 billion, a P/E ratio of -47.69, a PEG ratio of 0.42 and a beta of 0.62.

Institutional Investors Weigh In On CNX Resources

Hedge funds have recently bought and sold shares of the business. Bessemer Group Inc. boosted its stake in CNX Resources by 131.5% during the fourth quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer’s stock worth $34,000 after acquiring an additional 526 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in CNX Resources during the fourth quarter worth about $39,000. VSM Wealth Advisory LLC bought a new stake in CNX Resources during the fourth quarter worth about $55,000. Harbor Capital Advisors Inc. bought a new stake in CNX Resources during the first quarter worth about $61,000. Finally, Sound Income Strategies LLC bought a new stake in CNX Resources during the first quarter worth about $63,000. Institutional investors own 95.16% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Bank of America decreased their target price on shares of CNX Resources from $32.00 to $27.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 1st. Scotiabank raised shares of CNX Resources from a “sector underperform” rating to a “sector perform” rating and set a $33.00 price target on the stock in a report on Friday, April 11th. Raymond James raised shares of CNX Resources from an “underperform” rating to a “market perform” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. raised their price target on shares of CNX Resources from $32.00 to $33.00 and gave the stock an “underweight” rating in a report on Thursday, March 13th. Finally, StockNews.com lowered shares of CNX Resources from a “hold” rating to a “sell” rating in a report on Thursday, February 13th. Eight equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $31.58.

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.