CNX Resources Co. (NYSE:CNX) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its stake in CNX Resources Co. (NYSE:CNX) by 44.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 74,275 shares of the oil and gas producer’s stock after selling 59,128 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in CNX Resources were worth $1,805,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Mizuho Markets Americas LLC purchased a new stake in shares of CNX Resources in the second quarter valued at about $97,200,000. LSV Asset Management lifted its holdings in CNX Resources by 18.0% in the first quarter. LSV Asset Management now owns 1,757,121 shares of the oil and gas producer’s stock valued at $41,679,000 after acquiring an additional 267,768 shares during the last quarter. Quantbot Technologies LP grew its position in CNX Resources by 533.4% in the first quarter. Quantbot Technologies LP now owns 286,480 shares of the oil and gas producer’s stock worth $6,795,000 after acquiring an additional 241,250 shares during the period. Levin Capital Strategies L.P. acquired a new stake in CNX Resources during the first quarter worth $4,813,000. Finally, Paralel Advisors LLC acquired a new position in shares of CNX Resources in the 2nd quarter valued at $2,338,000. 95.16% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at CNX Resources

In related news, Director Bernard Lanigan, Jr. acquired 75,000 shares of CNX Resources stock in a transaction dated Monday, September 9th. The stock was acquired at an average price of $26.81 per share, for a total transaction of $2,010,750.00. Following the transaction, the director now owns 401,820 shares of the company’s stock, valued at $10,772,794.20. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.10% of the stock is currently owned by insiders.

CNX Resources Price Performance

Shares of CNX opened at $31.81 on Tuesday. The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of 5.76 and a beta of 1.37. The firm’s fifty day simple moving average is $26.86 and its 200-day simple moving average is $25.09. CNX Resources Co. has a twelve month low of $19.07 and a twelve month high of $32.26. The company has a current ratio of 0.41, a quick ratio of 0.40 and a debt-to-equity ratio of 0.46.

CNX Resources (NYSE:CNX) last announced its quarterly earnings results on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.09. CNX Resources had a return on equity of 7.51% and a net margin of 26.64%. The company had revenue of $321.44 million during the quarter, compared to the consensus estimate of $387.46 million. During the same period in the previous year, the business earned $0.29 EPS. Equities analysts forecast that CNX Resources Co. will post 1.47 EPS for the current fiscal year.

Analyst Ratings Changes

CNX has been the topic of several research analyst reports. Piper Sandler cut shares of CNX Resources from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $22.00 to $20.00 in a research report on Thursday, August 15th. Truist Financial lifted their target price on shares of CNX Resources from $30.00 to $31.00 and gave the company a “buy” rating in a report on Monday, July 22nd. StockNews.com lowered CNX Resources from a “hold” rating to a “sell” rating in a research report on Saturday, August 3rd. Scotiabank increased their target price on CNX Resources from $25.00 to $27.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, August 20th. Finally, Stephens reissued an “equal weight” rating and set a $27.00 price target on shares of CNX Resources in a research report on Monday, July 15th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $26.13.

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.