Arizona State Retirement System Has $903,000 Stock Position in CNX Resources Co. (NYSE:CNX)

Arizona State Retirement System reduced its stake in shares of CNX Resources Co. (NYSE:CNX) by 4.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 45,137 shares of the oil and gas producer’s stock after selling 2,008 shares during the quarter. Arizona State Retirement System’s holdings in CNX Resources were worth $903,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in CNX. Southeastern Asset Management Inc. TN boosted its holdings in shares of CNX Resources by 19.9% during the first quarter. Southeastern Asset Management Inc. TN now owns 13,758,674 shares of the oil and gas producer’s stock worth $220,414,000 after purchasing an additional 2,279,108 shares during the period. State Street Corp boosted its holdings in shares of CNX Resources by 15.6% during the first quarter. State Street Corp now owns 13,033,827 shares of the oil and gas producer’s stock worth $270,061,000 after purchasing an additional 1,760,214 shares during the period. Vanguard Group Inc. boosted its holdings in shares of CNX Resources by 10.5% during the third quarter. Vanguard Group Inc. now owns 18,448,774 shares of the oil and gas producer’s stock worth $286,510,000 after purchasing an additional 1,758,826 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of CNX Resources by 2,477.3% during the first quarter. Renaissance Technologies LLC now owns 1,513,616 shares of the oil and gas producer’s stock worth $31,362,000 after purchasing an additional 1,454,887 shares during the period. Finally, Morgan Stanley boosted its holdings in shares of CNX Resources by 64.1% during the third quarter. Morgan Stanley now owns 2,389,343 shares of the oil and gas producer’s stock worth $53,951,000 after purchasing an additional 933,493 shares during the period. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on CNX shares. Truist Financial raised their price target on shares of CNX Resources from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Mizuho lifted their target price on shares of CNX Resources from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Piper Sandler boosted their target price on shares of CNX Resources from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, March 7th. Bank of America raised shares of CNX Resources from an “underperform” rating to a “neutral” rating and set a $23.00 target price for the company in a research report on Friday, January 5th. Finally, Roth Mkm boosted their target price on shares of CNX Resources from $18.00 to $22.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, CNX Resources currently has a consensus rating of “Hold” and a consensus price target of $23.86.

Insider Transactions at CNX Resources

In related news, EVP Timothy Scott Bedard sold 1,226 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $20.83, for a total transaction of $25,537.58. Following the completion of the transaction, the executive vice president now directly owns 67,982 shares in the company, valued at approximately $1,416,065.06. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.65% of the stock is owned by corporate insiders.

CNX Resources Price Performance

Shares of CNX Resources stock opened at $23.83 on Wednesday. The firm has a fifty day simple moving average of $21.93 and a 200-day simple moving average of $21.30. The company has a current ratio of 0.51, a quick ratio of 0.49 and a debt-to-equity ratio of 0.43. CNX Resources Co. has a 1-year low of $14.36 and a 1-year high of $24.82. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of 2.62 and a beta of 1.33.

CNX Resources (NYSE:CNX) last issued its quarterly earnings data on Thursday, January 25th. The oil and gas producer reported $2.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $2.59. CNX Resources had a net margin of 50.34% and a return on equity of 9.00%. The business had revenue of $999.50 million during the quarter, compared to analysts’ expectations of $401.62 million. During the same period in the previous year, the company earned $1.64 earnings per share. CNX Resources’s revenue for the quarter was down 38.9% on a year-over-year basis. On average, sell-side analysts expect that CNX Resources Co. will post 1.31 earnings per share for the current year.

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.