CNX Resources Co. (NYSE:CNX) Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its holdings in CNX Resources Co. (NYSE:CNX) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,967 shares of the oil and gas producer’s stock after selling 368 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in CNX Resources were worth $1,209,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas boosted its stake in shares of CNX Resources by 104.8% during the 4th quarter. Teacher Retirement System of Texas now owns 46,170 shares of the oil and gas producer’s stock worth $1,693,000 after acquiring an additional 23,630 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in CNX Resources during the fourth quarter worth approximately $39,000. VSM Wealth Advisory LLC acquired a new stake in CNX Resources in the fourth quarter valued at approximately $55,000. Xponance Inc. increased its position in shares of CNX Resources by 2.9% in the fourth quarter. Xponance Inc. now owns 20,876 shares of the oil and gas producer’s stock valued at $766,000 after buying an additional 588 shares in the last quarter. Finally, Intech Investment Management LLC raised its stake in shares of CNX Resources by 200.3% during the 4th quarter. Intech Investment Management LLC now owns 194,307 shares of the oil and gas producer’s stock worth $7,125,000 after buying an additional 129,605 shares during the period. 95.16% of the stock is owned by institutional investors and hedge funds.

CNX Resources Trading Up 0.8 %

Shares of CNX stock opened at $31.76 on Thursday. CNX Resources Co. has a 1-year low of $22.81 and a 1-year high of $41.93. The firm has a market cap of $4.73 billion, a PE ratio of -46.70, a price-to-earnings-growth ratio of 0.42 and a beta of 1.26. The company has a 50-day moving average of $29.79 and a two-hundred day moving average of $33.19. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32.

CNX Resources (NYSE:CNX) last posted its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.14. CNX Resources had a negative net margin of 7.14% and a positive return on equity of 6.72%. On average, analysts predict that CNX Resources Co. will post 2.18 EPS for the current year.

Insider Activity

In related news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $31.09, for a total transaction of $33,421,750.00. Following the completion of the transaction, the insider now directly owns 13,925,000 shares in the company, valued at $432,928,250. This trade represents a 7.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 3.10% of the company’s stock.

Analyst Upgrades and Downgrades

CNX has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of CNX Resources from $32.00 to $33.00 and gave the stock an “underweight” rating in a research note on Thursday, March 13th. Morgan Stanley set a $33.00 target price on shares of CNX Resources and gave the stock an “underweight” rating in a research note on Wednesday. Truist Financial upped their price target on CNX Resources from $34.00 to $35.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Stephens upgraded CNX Resources from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $35.00 to $48.00 in a research report on Tuesday, March 18th. Finally, Mizuho dropped their target price on CNX Resources from $38.00 to $34.00 and set an “underperform” rating for the company in a report on Tuesday, January 14th. Nine analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $30.69.

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.