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 stake in shares of CNX Resources Corporation. (NYSE:CNX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 28,000 shares of the oil and gas producer's stock, valued at approximately $881,000.

Other institutional investors have also recently made changes to their positions in 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 worth $34,000 after acquiring an additional 526 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of CNX Resources during the 1st quarter valued at approximately $61,000. Sound Income Strategies LLC bought a new position in shares of CNX Resources during the 1st quarter valued at approximately $63,000. UMB Bank n.a. boosted its holdings in CNX Resources by 59.7% in the 1st quarter. UMB Bank n.a. now owns 2,062 shares of the oil and gas producer's stock worth $65,000 after buying an additional 771 shares during the period. Finally, Ameriflex Group Inc. bought a new position in CNX Resources in the 4th quarter worth approximately $88,000. Institutional investors and hedge funds own 95.16% of the company's stock.

CNX Resources Stock Down 0.4%

Shares of NYSE CNX traded down $0.13 during midday trading on Thursday, hitting $29.98. The stock had a trading volume of 1,028,144 shares, compared to its average volume of 2,722,040. The company has a quick ratio of 0.30, a current ratio of 0.33 and a debt-to-equity ratio of 0.56. The business's 50 day moving average is $32.63 and its 200-day moving average is $31.04. CNX Resources Corporation. has a 52 week low of $23.85 and a 52 week high of $41.93. The company has a market cap of $4.24 billion, a P/E ratio of 50.73, a PEG ratio of 0.30 and a beta of 0.66.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Piper Sandler increased their target price on shares of CNX Resources from $21.00 to $25.00 and gave the stock an "underweight" rating in a research note on Tuesday, May 13th. Barclays started coverage on shares of CNX Resources in a research report on Monday, July 7th. They set an "equal weight" rating and a $33.00 price objective on the stock. Scotiabank reiterated 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. Cowen restated a "hold" rating on shares of CNX Resources in a research report on Friday, April 25th. Finally, TD Cowen upgraded shares of CNX Resources to a "hold" rating in a research report on Monday, July 7th. Eight equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $31.85.

Insider Buying and Selling at CNX Resources

In other CNX Resources news, Director J. Palmer Clarkson bought 10,000 shares of CNX Resources stock in a transaction 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 completion of the acquisition, the director owned 245,433 shares in the company, 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 document filed with the SEC, which is accessible through this hyperlink. 3.10% of the stock is owned by insiders.

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.