Commonwealth of Pennsylvania Public School Empls Retrmt SYS Cuts Stock Holdings in CNX Resources Co. (NYSE:CNX)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its stake in CNX Resources Co. (NYSE:CNX) by 1.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd acquired a new position in CNX Resources during the 4th quarter worth approximately $39,000. VSM Wealth Advisory LLC acquired a new position in shares of CNX Resources during the fourth quarter worth $55,000. Principal Securities Inc. raised its stake in CNX Resources by 38.5% in the fourth quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer’s stock valued at $91,000 after buying an additional 691 shares in the last quarter. Blue Trust Inc. lifted its holdings in CNX Resources by 65.1% during the 4th quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer’s stock worth $119,000 after buying an additional 1,280 shares during the last quarter. Finally, Heck Capital Advisors LLC acquired a new position in shares of CNX Resources during the 4th quarter worth about $121,000. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

CNX Resources Stock Performance

Shares of CNX stock opened at $31.76 on Thursday. 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 12-month low of $22.81 and a 12-month high of $41.93. The company has a market cap of $4.73 billion, a price-to-earnings ratio of -46.70, a price-to-earnings-growth ratio of 0.42 and a beta of 1.26. The stock has a 50 day simple moving average of $29.79 and a 200-day simple moving average of $33.19.

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Piper Sandler cut their target price on CNX Resources from $23.00 to $22.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 29th. Morgan Stanley set a $33.00 price objective on shares of CNX Resources and gave the stock an “underweight” rating in a research report on Wednesday. Roth Capital set a $30.00 target price on shares of CNX Resources in a report on Thursday, January 23rd. Mizuho reduced their price target on shares of CNX Resources from $38.00 to $34.00 and set an “underperform” rating for the company in a research report on Tuesday, January 14th. Finally, TD Cowen initiated coverage on CNX Resources in a report on Wednesday, January 15th. They set a “hold” rating and a $27.00 price objective on the stock. Nine equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $30.69.

Insiders Place Their Bets

In related news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $31.09, for a total value of $33,421,750.00. Following the sale, the insider now owns 13,925,000 shares in the company, valued at $432,928,250. This represents a 7.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.10% of the stock is currently owned by company insiders.

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.