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

State of New Jersey Common Pension Fund D cut its holdings in CNX Resources Co. (NYSE:CNX) by 3.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 71,843 shares of the oil and gas producer’s stock after selling 2,432 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in CNX Resources were worth $2,340,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of CNX. GAMMA Investing LLC raised its holdings in shares of CNX Resources by 54.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock worth $46,000 after purchasing an additional 666 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of CNX Resources by 135.4% in the third quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer’s stock valued at $64,000 after buying an additional 1,131 shares in the last quarter. CWM LLC lifted its position in shares of CNX Resources by 77.0% during the 3rd quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock valued at $70,000 after acquiring an additional 935 shares during the last quarter. Natixis acquired a new stake in shares of CNX Resources during the 1st quarter valued at $79,000. Finally, Innealta Capital LLC acquired a new position in shares of CNX Resources in the 2nd quarter worth $131,000. 95.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Capital One Financial downgraded CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 target price for the company. in a report on Monday, October 14th. Stephens raised their target price on shares of CNX Resources from $26.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Tudor Pickering raised shares of CNX Resources to a “strong sell” rating in a research report on Tuesday, October 1st. Truist Financial downgraded shares of CNX Resources from a “buy” rating to a “hold” rating and reduced their price target for the company from $38.00 to $34.00 in a research report on Monday, October 28th. Finally, Piper Sandler cut shares of CNX Resources from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $22.00 to $20.00 in a research report on Thursday, August 15th. Six research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $29.00.

CNX Resources Stock Performance

Shares of CNX stock opened at $38.65 on Thursday. CNX Resources Co. has a fifty-two week low of $19.07 and a fifty-two week high of $40.08. The stock’s 50-day moving average is $33.25 and its two-hundred day moving average is $28.10. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.37 and a quick ratio of 0.36. The firm has a market cap of $5.77 billion, a P/E ratio of 12.15, a PEG ratio of 1.86 and a beta of 1.37.

CNX Resources (NYSE:CNX) last released its quarterly earnings data on Thursday, October 24th. The oil and gas producer reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.09. The firm had revenue of $424.21 million for the quarter, compared to the consensus estimate of $398.33 million. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. During the same quarter in the prior year, the company posted $0.35 earnings per share. Analysts predict that CNX Resources Co. will post 1.53 earnings per share for the current fiscal year.

Insider Transactions at CNX Resources

In other CNX Resources news, Director Bernard Lanigan, Jr. acquired 75,000 shares of CNX Resources stock in a transaction that occurred on Monday, September 9th. The stock was acquired at an average price of $26.81 per share, with a total value of $2,010,750.00. Following the purchase, the director now owns 401,820 shares in the company, valued at approximately $10,772,794.20. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.10% of the stock is currently owned by company insiders.

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.