Bridges Investment Management Inc. Buys 23,531 Shares of CNX Resources Corporation. (NYSE:CNX)

Bridges Investment Management Inc. boosted its holdings in shares of CNX Resources Corporation. (NYSE:CNX - Free Report) by 111.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,673 shares of the oil and gas producer's stock after purchasing an additional 23,531 shares during the period. Bridges Investment Management Inc.'s holdings in CNX Resources were worth $1,406,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CNX. State of Alaska Department of Revenue lifted its holdings in CNX Resources by 2.4% during the 1st quarter. State of Alaska Department of Revenue now owns 17,437 shares of the oil and gas producer's stock valued at $548,000 after purchasing an additional 415 shares during the last quarter. Pullen Investment Management LLC raised its stake in shares of CNX Resources by 1.5% in the first quarter. Pullen Investment Management LLC now owns 32,633 shares of the oil and gas producer's stock valued at $1,027,000 after acquiring an additional 482 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of CNX Resources by 21.0% in the first quarter. Farther Finance Advisors LLC now owns 2,931 shares of the oil and gas producer's stock valued at $93,000 after acquiring an additional 508 shares during the last quarter. SummerHaven Investment Management LLC boosted its holdings in shares of CNX Resources by 1.8% in the 1st quarter. SummerHaven Investment Management LLC now owns 30,284 shares of the oil and gas producer's stock worth $953,000 after acquiring an additional 525 shares in the last quarter. Finally, Bessemer Group Inc. grew its position 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 worth $34,000 after acquiring an additional 526 shares during the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on CNX. Piper Sandler lifted their price objective on CNX Resources from $21.00 to $25.00 and gave the company an "underweight" rating in a research report on Tuesday, May 13th. Stephens raised CNX Resources from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $35.00 to $48.00 in a report on Tuesday, March 18th. 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 report on Tuesday, April 1st. Scotiabank boosted their target price on shares of CNX Resources from $33.00 to $35.00 and gave the stock a "sector perform" rating in a research note on Friday. Finally, Morgan Stanley reiterated an "underweight" rating and set a $31.00 target price on shares of CNX Resources in a research report on Tuesday, April 15th. Eight analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $31.85.

Insider Buying and Selling at CNX Resources

In other news, Director J. Palmer Clarkson acquired 10,000 shares of CNX Resources stock in a transaction dated Monday, May 12th. The stock was bought at an average cost of $31.20 per share, with a total value of $312,000.00. Following the completion of the transaction, the director directly owned 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 acquisition 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 Trading Up 2.0%

Shares of CNX stock traded up $0.67 on Friday, reaching $34.00. The company had a trading volume of 1,670,014 shares, compared to its average volume of 2,595,607. The stock has a market cap of $4.92 billion, a PE ratio of -16.50, a PEG ratio of 0.33 and a beta of 0.66. The company has a 50-day moving average of $32.43 and a 200-day moving average of $31.10. The company has a current ratio of 0.27, a quick ratio of 0.25 and a debt-to-equity ratio of 0.63. CNX Resources Corporation. has a 12 month low of $23.85 and a 12 month high of $41.93.

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.