Harbor Capital Advisors Inc. Invests $61,000 in CNX Resources Co. (NYSE:CNX)

Harbor Capital Advisors Inc. acquired a new position in shares of CNX Resources Co. (NYSE:CNX) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,938 shares of the oil and gas producer’s stock, valued at approximately $61,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Farther Finance Advisors LLC raised its holdings in CNX Resources by 21.0% during the first quarter. Farther Finance Advisors LLC now owns 2,931 shares of the oil and gas producer’s stock worth $93,000 after acquiring an additional 508 shares in the last quarter. Bessemer Group Inc. raised its holdings in CNX Resources by 131.5% during the fourth 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 in the last quarter. Xponance Inc. raised its holdings in CNX Resources by 2.9% during the fourth quarter. Xponance Inc. now owns 20,876 shares of the oil and gas producer’s stock worth $766,000 after acquiring an additional 588 shares in the last quarter. Principal Securities Inc. raised its holdings in CNX Resources by 38.5% during the fourth quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer’s stock worth $91,000 after acquiring an additional 691 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in CNX Resources by 59.7% during the first quarter. UMB Bank n.a. now owns 2,062 shares of the oil and gas producer’s stock worth $65,000 after acquiring an additional 771 shares in the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CNX. JPMorgan Chase & Co. upped their target price on CNX Resources from $32.00 to $33.00 and gave the stock an “underweight” rating in a report on Thursday, March 13th. Stephens upgraded CNX Resources from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $35.00 to $48.00 in a report on Tuesday, March 18th. Bank of America dropped their target price on CNX Resources from $32.00 to $27.00 and set an “underperform” rating on the stock in a report on Tuesday, April 1st. Cowen restated a “hold” rating on shares of CNX Resources in a research note on Friday, April 25th. Finally, Morgan Stanley restated an “underweight” rating and issued a $31.00 price objective on shares of CNX Resources in a research note on Tuesday, April 15th. Eight analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CNX Resources has an average rating of “Hold” and a consensus price target of $31.58.

Insider Transactions at CNX Resources

In related news, Director J. Palmer Clarkson purchased 10,000 shares of CNX Resources stock in a transaction that occurred on Monday, May 12th. The shares were acquired at an average price of $31.20 per share, with a total value of $312,000.00. Following the completion of the transaction, the director now directly owns 245,433 shares of the company’s stock, valued at $7,657,509.60. This represents a 4.25% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.59% of the stock is owned by corporate insiders.

CNX Resources Price Performance

Shares of NYSE CNX opened at $32.63 on Monday. The firm has a market cap of $4.72 billion, a P/E ratio of -47.98, a price-to-earnings-growth ratio of 0.42 and a beta of 0.66. The company has a current ratio of 0.33, a quick ratio of 0.32 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 business’s 50 day moving average is $31.06 and its 200-day moving average is $31.67.

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.