Congress Asset Management Co. Has $8.10 Million Holdings in CNX Resources Co. (NYSE:CNX)

Congress Asset Management Co. trimmed its holdings in shares of CNX Resources Co. (NYSE:CNX - Free Report) by 3.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 257,365 shares of the oil and gas producer's stock after selling 9,082 shares during the period. Congress Asset Management Co. owned approximately 0.17% of CNX Resources worth $8,102,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Bessemer Group Inc. increased its stake 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 acquiring an additional 526 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of CNX Resources in the 4th quarter valued at $39,000. VSM Wealth Advisory LLC bought a new stake in shares of CNX Resources in the 4th quarter valued at $55,000. Ameriflex Group Inc. bought a new stake in shares of CNX Resources in the 4th quarter valued at $88,000. Finally, Principal Securities Inc. increased its stake in shares of CNX Resources by 38.5% in the 4th quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer's stock valued at $91,000 after acquiring an additional 691 shares in the last quarter. Institutional investors own 95.16% of the company's stock.

CNX Resources Price Performance

CNX opened at $31.49 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32. The company has a market capitalization of $4.56 billion, a price-to-earnings ratio of -46.31, a P/E/G ratio of 0.42 and a beta of 0.66. The firm's fifty day moving average price is $30.83 and its two-hundred day moving average price is $32.02. CNX Resources Co. has a 1 year low of $23.63 and a 1 year high of $41.93.

Analysts Set New Price Targets

Several analysts have recently weighed in on CNX shares. Mizuho lifted their price objective on shares of CNX Resources from $35.00 to $36.00 and gave the company an "underperform" rating in a research note on Tuesday, May 13th. Bank of America lowered their price objective on shares of CNX Resources from $32.00 to $27.00 and set an "underperform" rating for the company in a research note on Tuesday, April 1st. Wall Street Zen downgraded shares of CNX Resources from a "hold" rating to a "sell" rating in a research report on Thursday, February 13th. Piper Sandler lifted their price target on shares of CNX Resources from $21.00 to $25.00 and gave the company an "underweight" rating in a research report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. lifted their price target on shares of CNX Resources from $32.00 to $33.00 and gave the company an "underweight" rating in a research report on Thursday, March 13th. Eight research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $31.58.

Insiders Place Their Bets

In related news, Director J. Palmer Clarkson purchased 10,000 shares of the business's stock in a transaction that occurred on 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 acquisition, the director now owns 245,433 shares of the company's stock, valued at $7,657,509.60. This represents a 4.25% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 3.10% of the company's stock.

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.

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