Avalon Capital Management Acquires 10,487 Shares of CNX Resources Corporation. (NYSE:CNX)

Key Points

• Avalon Capital Management significantly boosted its holdings in CNX Resources Corporation by 151.5% during the 1st quarter, acquiring an additional 10,487 shares, bringing their total to 17,410 shares valued at approximately $548,000.
• Insider activity includes Director J. Palmer Clarkson purchasing 10,000 shares at an average price of $31.20, increasing their ownership stake to a total value of about $7.66 million.
• Analysts have mixed ratings on CNX Resources, with eight ratings for sell, eight for hold, and a price target consensus of $31.85, indicating cautious sentiment around the stock.

Avalon Capital Management increased its stake in shares of CNX Resources Corporation. (NYSE:CNX - Free Report) by 151.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,410 shares of the oil and gas producer's stock after acquiring an additional 10,487 shares during the period. Avalon Capital Management's holdings in CNX Resources were worth $548,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Bessemer Group Inc. raised its position 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. Harbor Capital Advisors Inc. acquired a new position in shares of CNX Resources during the 1st quarter worth approximately $61,000. Sound Income Strategies LLC acquired a new stake in CNX Resources during the 1st quarter valued at $63,000. UMB Bank n.a. boosted its position in CNX Resources by 59.7% during the first quarter. UMB Bank n.a. now owns 2,062 shares of the oil and gas producer's stock worth $65,000 after purchasing an additional 771 shares during the period. Finally, Ameriflex Group Inc. bought a new position in CNX Resources during the fourth quarter worth $88,000. Institutional investors and hedge funds own 95.16% of the company's stock.

Insider Buying and Selling at CNX Resources

In related news, Director J. Palmer Clarkson bought 10,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was acquired at an average cost of $31.20 per share, with a total value of $312,000.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.10% of the stock is currently owned by corporate insiders.

CNX Resources Trading Down 0.7%

CNX traded down $0.21 during trading on Thursday, reaching $29.90. 1,197,708 shares of the company's stock were exchanged, compared to its average volume of 2,723,350. The company has a current ratio of 0.33, a quick ratio of 0.30 and a debt-to-equity ratio of 0.56. CNX Resources Corporation. has a one year low of $23.85 and a one year high of $41.93. The firm has a fifty day moving average price of $32.63 and a two-hundred day moving average price of $31.04. The stock has a market capitalization of $4.23 billion, a PE ratio of 50.74, a price-to-earnings-growth ratio of 0.30 and a beta of 0.66.

Analysts Set New Price Targets

CNX has been the subject of several recent research reports. TD Cowen upgraded CNX Resources to a "hold" rating in a research note on Monday, July 7th. Scotiabank reissued a "sector perform" rating and issued a $35.00 target price (up previously from $33.00) on shares of CNX Resources in a research report on Friday, July 11th. Mizuho raised their price target on shares of CNX Resources from $35.00 to $36.00 and gave the stock an "underperform" rating in a research report on Tuesday, May 13th. Cowen reiterated a "hold" rating on shares of CNX Resources in a research note on Friday, April 25th. Finally, Morgan Stanley restated an "underweight" rating and set a $31.00 target price on shares of CNX Resources in a research report on Tuesday, April 15th. 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 MarketBeat, the company has an average rating of "Hold" and an average target price of $31.85.

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.