SummerHaven Investment Management LLC Purchases 525 Shares of CNX Resources Co. (NYSE:CNX)

SummerHaven Investment Management LLC raised its holdings in CNX Resources Co. (NYSE:CNX) by 1.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,284 shares of the oil and gas producer’s stock after buying an additional 525 shares during the quarter. SummerHaven Investment Management LLC’s holdings in CNX Resources were worth $953,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CNX. Bessemer Group Inc. lifted its holdings in CNX Resources by 131.5% during the 4th quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 526 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in CNX Resources in the fourth quarter valued at about $39,000. VSM Wealth Advisory LLC acquired a new stake in CNX Resources during the 4th quarter worth $55,000. Harbor Capital Advisors Inc. bought a new position in CNX Resources during the first quarter worth about $61,000. Finally, UMB Bank n.a. grew its stake in CNX Resources by 59.7% in the first quarter. UMB Bank n.a. now owns 2,062 shares of the oil and gas producer’s stock valued at $65,000 after acquiring an additional 771 shares during the period. Institutional investors own 95.16% of the company’s stock.

Insider Buying and Selling

In other CNX Resources news, Director J. Palmer Clarkson purchased 10,000 shares of the stock in a transaction dated Monday, May 12th. The stock was bought at an average price of $31.20 per share, with a total value of $312,000.00. Following the acquisition, the director now owns 245,433 shares of the company’s stock, valued at approximately $7,657,509.60. This represents a 4.25% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.59% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CNX. JPMorgan Chase & Co. lifted their price objective on CNX Resources from $32.00 to $33.00 and gave the company an “underweight” rating in a report on Thursday, March 13th. Mizuho upped their price target on shares of CNX Resources from $35.00 to $36.00 and gave the company an “underperform” rating in a report on Tuesday, May 13th. Piper Sandler increased their price objective on shares of CNX Resources from $21.00 to $25.00 and gave the stock an “underweight” rating in a research report on Tuesday, May 13th. Scotiabank upgraded shares of CNX Resources from a “sector underperform” rating to a “sector perform” rating and set a $33.00 price objective on the stock in a report on Friday, April 11th. Finally, Stephens upgraded shares of CNX Resources from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $35.00 to $48.00 in a report on Tuesday, March 18th. Eight analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, CNX Resources currently has an average rating of “Hold” and a consensus price target of $31.58.

CNX Resources Stock Performance

NYSE CNX opened at $32.10 on Thursday. The firm has a 50-day moving average price of $30.90 and a two-hundred day moving average price of $31.90. CNX Resources Co. has a 12-month low of $23.63 and a 12-month high of $41.93. The company has a market capitalization of $4.64 billion, a P/E ratio of -47.20, a P/E/G ratio of 0.42 and a beta of 0.66. The company has a quick ratio of 0.32, a current ratio of 0.33 and a debt-to-equity ratio of 0.45.

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.