Insider Buying: CNX Resources Co. (NYSE:CNX) Director Purchases 10,000 Shares of Stock

CNX Resources Co. (NYSE:CNX - Get Free Report) Director J. Palmer Clarkson purchased 10,000 shares of the business's stock in a transaction on Monday, May 12th. The shares were acquired at an average price of $31.20 per share, for a total transaction of $312,000.00. Following the completion of the purchase, the director now directly owns 245,433 shares of the company's stock, valued at approximately $7,657,509.60. This trade represents a 4.25% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

CNX Resources Stock Performance

CNX traded up $0.10 on Friday, reaching $33.01. The company had a trading volume of 1,514,988 shares, compared to its average volume of 2,673,644. The company has a quick ratio of 0.32, a current ratio of 0.33 and a debt-to-equity ratio of 0.45. CNX Resources Co. has a 1 year low of $23.63 and a 1 year high of $41.93. The stock has a market capitalization of $4.78 billion, a PE ratio of -48.54, a P/E/G ratio of 0.42 and a beta of 0.62. The stock has a 50-day moving average price of $30.69 and a 200-day moving average price of $32.62.

Analyst Upgrades and Downgrades

CNX has been the subject of several research reports. Cowen restated a "hold" rating on shares of CNX Resources in a research note on Friday, April 25th. StockNews.com cut shares of CNX Resources from a "hold" rating to a "sell" rating in a report on Thursday, February 13th. Scotiabank raised shares of CNX Resources from a "sector underperform" rating to a "sector perform" rating and set a $33.00 price objective on the stock in a research report on Friday, April 11th. Raymond James upgraded shares of CNX Resources from an "underperform" rating to a "market perform" rating in a research note on Tuesday, February 18th. Finally, Mizuho raised their price target on CNX Resources from $35.00 to $36.00 and gave the company an "underperform" rating in a research note on Tuesday, May 13th. Eight analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $31.58.

Institutional Trading of CNX Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in CNX. Bessemer Group Inc. grew its stake 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 buying an additional 526 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of CNX Resources in the fourth quarter valued at approximately $39,000. VSM Wealth Advisory LLC acquired a new stake in shares of CNX Resources in the fourth quarter valued at approximately $55,000. Harbor Capital Advisors Inc. purchased a new position in shares of CNX Resources during the first quarter worth approximately $61,000. Finally, Sound Income Strategies LLC acquired a new position in shares of CNX Resources in the 1st quarter valued at $63,000. Institutional investors and hedge funds own 95.16% of the company's stock.

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.