M&T Bank Corp Has $556,000 Position in CNX Resources Corporation. (NYSE:CNX)

M&T Bank Corp grew its holdings in shares of CNX Resources Corporation. (NYSE:CNX) by 38.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,638 shares of the oil and gas producer’s stock after purchasing an additional 4,933 shares during the quarter. M&T Bank Corp’s holdings in CNX Resources were worth $556,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new position in CNX Resources in the 1st quarter valued at $718,000. Principal Financial Group Inc. increased its position in shares of CNX Resources by 1.6% in the 1st quarter. Principal Financial Group Inc. now owns 472,300 shares of the oil and gas producer’s stock valued at $14,868,000 after buying an additional 7,440 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in CNX Resources by 21.0% during the 1st quarter. Farther Finance Advisors LLC now owns 2,931 shares of the oil and gas producer’s stock worth $93,000 after purchasing an additional 508 shares in the last quarter. KBC Group NV increased its holdings in CNX Resources by 25.0% during the 1st quarter. KBC Group NV now owns 7,768 shares of the oil and gas producer’s stock worth $245,000 after purchasing an additional 1,552 shares in the last quarter. Finally, Neo Ivy Capital Management bought a new position in shares of CNX Resources in the 4th quarter valued at about $1,429,000. Institutional investors own 95.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CNX. Mizuho raised their target price 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. Piper Sandler raised their price objective on shares of CNX Resources from $21.00 to $25.00 and gave the stock an “underweight” rating in a research report on Tuesday, May 13th. Scotiabank restated a “sector perform” rating and set a $35.00 price objective (up from $33.00) on shares of CNX Resources in a research report on Friday, July 11th. Stephens upgraded shares of CNX Resources from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $35.00 to $48.00 in a research report on Tuesday, March 18th. Finally, TD Cowen upgraded shares of CNX Resources to a “hold” rating in a research report on Monday, July 7th. Eight research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.85.

Insider Buying and Selling at CNX Resources

In related news, Director J. Palmer Clarkson bought 10,000 shares of the firm’s stock in a transaction on Monday, May 12th. The shares were purchased at an average price of $31.20 per share, with a total value of $312,000.00. Following the completion of the purchase, the director owned 245,433 shares in the company, valued at $7,657,509.60. This represents a 4.25% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 4.59% of the company’s stock.

CNX Resources Stock Performance

Shares of NYSE:CNX opened at $33.82 on Wednesday. The company’s 50 day simple moving average is $32.57 and its 200 day simple moving average is $31.10. The stock has a market capitalization of $4.89 billion, a price-to-earnings ratio of -16.42, a price-to-earnings-growth ratio of 0.34 and a beta of 0.66. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.27 and a quick ratio of 0.25. CNX Resources Corporation. has a 1 year low of $23.85 and a 1 year high of $41.93.

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.