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

SummerHaven Investment Management LLC raised its stake in shares of CNX Resources Co. (NYSE:CNX) by 1.8% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 30,284 shares of the oil and gas producer’s stock after purchasing an additional 525 shares during the period. SummerHaven Investment Management LLC’s holdings in CNX Resources were worth $953,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of CNX. SG Americas Securities LLC bought a new position in shares of CNX Resources in the first quarter valued at approximately $667,000. Harbor Capital Advisors Inc. purchased a new stake in shares of CNX Resources during the first quarter worth $61,000. Farther Finance Advisors LLC boosted its stake in CNX Resources by 21.0% in the 1st quarter. Farther Finance Advisors LLC now owns 2,931 shares of the oil and gas producer’s stock worth $93,000 after purchasing an additional 508 shares during the period. UMB Bank n.a. boosted its position in shares of 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. Finally, GAMMA Investing LLC raised its position in shares of CNX Resources by 3,220.4% in the first quarter. GAMMA Investing LLC now owns 106,119 shares of the oil and gas producer’s stock worth $3,371,000 after buying an additional 102,923 shares in the last quarter. Institutional investors own 95.16% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CNX. 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 research report on Friday, April 11th. Wall Street Zen lowered shares of CNX Resources from a “hold” rating to a “sell” rating in a report on Thursday, February 13th. Morgan Stanley reissued an “underweight” rating and set a $31.00 price target on shares of CNX Resources in a research report on Tuesday, April 15th. Bank of America decreased their price objective 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. Finally, Piper Sandler increased their target price on shares of CNX Resources from $21.00 to $25.00 and gave the stock an “underweight” rating in a report on Tuesday, May 13th. Eight analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $31.58.

CNX Resources Trading Down 0.6%

Shares of NYSE CNX opened at $32.10 on Thursday. The firm’s 50 day moving average price is $30.90 and its 200-day moving average price is $31.90. CNX Resources Co. has a 52-week low of $23.63 and a 52-week high of $41.93. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.32 and a current ratio of 0.33. The company has a market cap of $4.64 billion, a PE ratio of -47.20, a P/E/G ratio of 0.42 and a beta of 0.66.

Insider Buying and Selling

In other CNX Resources news, Director J. Palmer Clarkson bought 10,000 shares of the business’s stock in a transaction on Monday, May 12th. The shares were acquired at an average cost of $31.20 per share, for a total transaction of $312,000.00. Following the purchase, the director now owns 245,433 shares in the company, valued at approximately $7,657,509.60. This trade represents a 4.25% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.59% of the stock is owned by company insiders.

CNX Resources 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.