Arizona State Retirement System Sells 1,562 Shares of CNX Resources Co. (NYSE:CNX)

Arizona State Retirement System trimmed its stake in CNX Resources Co. (NYSE:CNXGet Rating) by 2.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 57,091 shares of the oil and gas producer’s stock after selling 1,562 shares during the period. Arizona State Retirement System’s holdings in CNX Resources were worth $1,183,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Massachusetts Financial Services Co. MA bought a new stake in shares of CNX Resources in the 4th quarter valued at approximately $32,704,000. Nuveen Asset Management LLC lifted its stake in shares of CNX Resources by 7.0% in the 4th quarter. Nuveen Asset Management LLC now owns 2,090,637 shares of the oil and gas producer’s stock valued at $28,746,000 after purchasing an additional 136,805 shares during the last quarter. Tributary Capital Management LLC raised its holdings in shares of CNX Resources by 5.5% in the first quarter. Tributary Capital Management LLC now owns 1,779,013 shares of the oil and gas producer’s stock worth $36,861,000 after buying an additional 92,296 shares during the period. First Trust Advisors LP raised its holdings in shares of CNX Resources by 46.7% in the fourth quarter. First Trust Advisors LP now owns 1,406,132 shares of the oil and gas producer’s stock worth $19,334,000 after buying an additional 447,890 shares during the period. Finally, Truist Financial Corp raised its holdings in shares of CNX Resources by 2.6% in the first quarter. Truist Financial Corp now owns 948,901 shares of the oil and gas producer’s stock worth $19,661,000 after buying an additional 24,223 shares during the period. 95.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CNX has been the topic of several recent analyst reports. MKM Partners reiterated a “neutral” rating and issued a $16.00 price target on shares of CNX Resources in a report on Wednesday, July 20th. Wells Fargo & Company downgraded CNX Resources from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $26.00 to $27.00 in a report on Monday, July 11th. Piper Sandler reduced their price target on CNX Resources to $23.00 and set a “na” rating on the stock in a report on Wednesday, May 18th. Scotiabank reiterated an “assumes” rating on shares of CNX Resources in a report on Monday, July 25th. Finally, Stifel Nicolaus reduced their price target on CNX Resources to $31.00 in a report on Thursday, July 28th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.63.

CNX Resources Trading Down 4.0 %

Shares of NYSE:CNX opened at $16.58 on Tuesday. CNX Resources Co. has a 12-month low of $10.41 and a 12-month high of $24.21. The business’s fifty day simple moving average is $19.08 and its 200-day simple moving average is $18.63. The company has a market capitalization of $3.23 billion, a PE ratio of -2.95, a P/E/G ratio of 0.18 and a beta of 1.32. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.75.

CNX Resources Company Profile

(Get Rating)

CNX Resources Corporation, an independent natural gas and midstream company, acquires, explores for, develops, and produces natural gas properties in the Appalachian Basin. The company operates in two segments, Shale and Coalbed Methane. It produces and sells pipeline quality natural gas primarily for gas wholesalers.

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Institutional Ownership by Quarter for CNX Resources (NYSE:CNX)

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