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

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

Other institutional investors and hedge funds also recently modified their holdings of the company. Bessemer Group Inc. raised its holdings in shares of CNX Resources by 131.5% in 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 period. Harvest Fund Management Co. Ltd bought a new stake in CNX Resources in the fourth quarter valued at approximately $39,000. VSM Wealth Advisory LLC bought a new position in shares of CNX Resources during the fourth quarter worth approximately $55,000. Harbor Capital Advisors Inc. bought a new position in shares of CNX Resources during the first quarter worth approximately $61,000. Finally, Sound Income Strategies LLC bought a new position in shares of CNX Resources during the first quarter worth approximately $63,000. 95.16% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other CNX Resources news, Director J. Palmer Clarkson acquired 10,000 shares of the company's stock in a transaction dated Monday, May 12th. The shares were bought at an average cost of $31.20 per share, with a total value of $312,000.00. Following the purchase, the director directly owned 245,433 shares of the company's stock, valued at $7,657,509.60. This trade represents a 4.25% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Scotiabank upgraded CNX Resources from a "sector underperform" rating to a "sector perform" rating and set a $33.00 target price on the stock in a research note on Friday, April 11th. Piper Sandler increased their target price on CNX Resources from $21.00 to $25.00 and gave the stock an "underweight" rating in a research note on Tuesday, May 13th. Stephens upgraded CNX Resources from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $35.00 to $48.00 in a research note on Tuesday, March 18th. Morgan Stanley reiterated an "underweight" rating and set a $31.00 target price on shares of CNX Resources in a research note on Tuesday, April 15th. Finally, Bank of America lowered their target price on CNX Resources from $32.00 to $27.00 and set an "underperform" rating on the stock in a research note on Tuesday, April 1st. Eight analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $31.69.

CNX Resources Trading Up 2.4%

CNX traded up $0.77 during midday trading on Thursday, hitting $33.33. 2,128,674 shares of the company were exchanged, compared to its average volume of 2,600,598. The firm has a market capitalization of $4.82 billion, a P/E ratio of -16.18, a P/E/G ratio of 0.31 and a beta of 0.66. CNX Resources Corporation. has a 1-year low of $23.85 and a 1-year high of $41.93. The firm's 50 day moving average price is $32.28 and its 200-day moving average price is $31.21. The company has a quick ratio of 0.25, a current ratio of 0.27 and a debt-to-equity ratio of 0.63.

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.