Texas Yale Capital Corp. Invests $881,000 in CNX Resources Corporation. (NYSE:CNX)

Key Points

• Texas Yale Capital Corp. has invested approximately $881,000 in CNX Resources Corporation, acquiring 28,000 shares during the first quarter.
• Insider J. Palmer Clarkson purchased 10,000 shares of CNX at an average price of $31.20, increasing his ownership by 4.25% to a total of about $7.66 million in shares.
• CNX Resources has received mixed ratings from analysts, with eight giving sell ratings, eight holding, and one buy, resulting in an average target price of $31.85.

Texas Yale Capital Corp. acquired a new position in shares of CNX Resources Corporation. (NYSE:CNX - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 28,000 shares of the oil and gas producer's stock, valued at approximately $881,000.

A number of other large investors have also modified their holdings of the stock. Neo Ivy Capital Management increased its position in shares of CNX Resources by 67.5% during the first quarter. Neo Ivy Capital Management now owns 65,324 shares of the oil and gas producer's stock worth $2,056,000 after acquiring an additional 26,336 shares during the period. Assetmark Inc. grew its stake in shares of CNX Resources by 0.4% during the first quarter. Assetmark Inc. now owns 889,407 shares of the oil and gas producer's stock worth $27,999,000 after purchasing an additional 3,978 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of CNX Resources by 12.1% during the first quarter. Cetera Investment Advisers now owns 18,145 shares of the oil and gas producer's stock worth $571,000 after purchasing an additional 1,959 shares in the last quarter. Readystate Asset Management LP acquired a new position in shares of CNX Resources during the first quarter worth $523,000. Finally, KLP Kapitalforvaltning AS grew its stake in shares of CNX Resources by 3.6% during the first quarter. KLP Kapitalforvaltning AS now owns 69,600 shares of the oil and gas producer's stock worth $2,191,000 after purchasing an additional 2,400 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company's stock.

Insider Activity at CNX Resources

In other CNX Resources news, Director J. Palmer Clarkson bought 10,000 shares of CNX Resources stock in a transaction dated 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 completion of the acquisition, the director 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.59% of the company's stock.

CNX Resources Price Performance

Shares of NYSE:CNX opened at $31.04 on Monday. The company has a 50-day simple moving average of $32.74 and a 200-day simple moving average of $31.04. CNX Resources Corporation. has a one year low of $23.85 and a one year high of $41.93. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.30 and a current ratio of 0.33. The stock has a market capitalization of $4.49 billion, a price-to-earnings ratio of 52.60, a PEG ratio of 0.31 and a beta of 0.66.

Analyst Ratings Changes

A number of brokerages recently commented on CNX. Barclays began coverage on shares of CNX Resources in a research note on Monday, July 7th. They set an "equal weight" rating and a $33.00 target price for the company. Scotiabank reiterated a "sector perform" rating and set a $35.00 target price (up previously from $33.00) on shares of CNX Resources in a research note on Friday, July 11th. 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. TD Cowen upgraded shares of CNX Resources to a "hold" rating in a research note on Monday, July 7th. Finally, Bank of America lowered their target price 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. Eight analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. According to data from 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.

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