41,300 Shares in CNX Resources Corporation. $CNX Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new position in CNX Resources Corporation. (NYSE:CNX) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 41,300 shares of the oil and gas producer’s stock, valued at approximately $1,592,000.

Other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its holdings in shares of CNX Resources by 56.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 810 shares of the oil and gas producer’s stock worth $30,000 after purchasing an additional 293 shares during the last quarter. Farther Finance Advisors LLC lifted its position in CNX Resources by 8.6% during the fourth quarter. Farther Finance Advisors LLC now owns 4,464 shares of the oil and gas producer’s stock worth $164,000 after buying an additional 353 shares during the period. Aigen Investment Management LP boosted its stake in CNX Resources by 4.9% in the 4th quarter. Aigen Investment Management LP now owns 7,619 shares of the oil and gas producer’s stock worth $280,000 after buying an additional 354 shares during the last quarter. Arkadios Wealth Advisors grew its holdings in CNX Resources by 3.2% in the 4th quarter. Arkadios Wealth Advisors now owns 13,028 shares of the oil and gas producer’s stock valued at $479,000 after buying an additional 400 shares during the period. Finally, Crossmark Global Holdings Inc. increased its stake in shares of CNX Resources by 5.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 10,881 shares of the oil and gas producer’s stock valued at $349,000 after acquiring an additional 587 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

CNX Resources Stock Down 1.3%

Shares of NYSE CNX opened at $33.48 on Thursday. The stock has a fifty day moving average price of $35.10 and a 200 day moving average price of $37.45. The company has a current ratio of 0.49, a quick ratio of 0.46 and a debt-to-equity ratio of 0.47. CNX Resources Corporation. has a 12-month low of $27.72 and a 12-month high of $43.62. The company has a market cap of $4.74 billion, a P/E ratio of 4.65 and a beta of 0.59.

Wall Street Analyst Weigh In

CNX has been the subject of a number of recent analyst reports. Mizuho lowered their target price on shares of CNX Resources from $44.00 to $42.00 and set a “neutral” rating for the company in a report on Wednesday, May 27th. Morgan Stanley lowered their price objective on shares of CNX Resources from $34.00 to $32.00 and set an “underweight” rating for the company in a research note on Monday. Weiss Ratings lowered CNX Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, May 28th. Barclays reduced their target price on CNX Resources from $36.00 to $35.00 and set an “underweight” rating on the stock in a report on Tuesday, May 26th. Finally, Zacks Research lowered CNX Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $35.44.

Insiders Place Their Bets

In other CNX Resources news, Director William N. Thorndike, Jr. sold 28,800 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $38.25, for a total value of $1,101,600.00. Following the completion of the sale, the director owned 426,585 shares of the company’s stock, valued at $16,316,876.25. This trade represents a 6.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.03% of the stock is currently owned by corporate insiders.

About CNX Resources

CNX Resources Corporation is a natural gas and natural gas liquids producer with operations concentrated in the Appalachian Basin. Established as an independent, publicly traded entity in 2018 following its spinoff from Consol Energy, the company focuses on the exploration, development and production of hydrocarbon resources in the Marcellus and Utica shales across Pennsylvania, West Virginia and Ohio.

In addition to its upstream activities, CNX Resources has invested in midstream infrastructure through its subsidiary that gathers, processes and transports natural gas.