Louisiana State Employees Retirement System Purchases New Holdings in CNX Resources Co. (NYSE:CNX)

Louisiana State Employees Retirement System purchased a new stake in shares of CNX Resources Co. (NYSE:CNX) in the 4th quarter, Holdings Channel reports. The fund purchased 44,600 shares of the oil and gas producer’s stock, valued at approximately $892,000.

Several other large investors have also recently bought and sold shares of the stock. Neo Ivy Capital Management acquired a new stake in shares of CNX Resources in the third quarter valued at approximately $26,000. BluePath Capital Management LLC acquired a new stake in shares of CNX Resources in the third quarter valued at approximately $32,000. Castleview Partners LLC acquired a new stake in shares of CNX Resources in the third quarter valued at approximately $41,000. Adirondack Trust Co. acquired a new stake in shares of CNX Resources in the third quarter valued at approximately $54,000. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of CNX Resources by 30.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 2,540 shares of the oil and gas producer’s stock valued at $57,000 after buying an additional 590 shares during the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other CNX Resources news, EVP Timothy Scott Bedard sold 1,226 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $20.83, for a total transaction of $25,537.58. Following the transaction, the executive vice president now 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 this hyperlink. Corporate insiders own 3.10% of the company’s stock.

CNX Resources Price Performance

CNX Resources stock opened at $23.93 on Friday. The stock’s fifty day moving average price is $22.51 and its two-hundred day moving average price is $21.41. CNX Resources Co. has a one year low of $14.36 and a one year high of $24.82. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.51 and a quick ratio of 0.49. The firm has a market cap of $3.66 billion, a PE ratio of 2.63 and a beta of 1.33.

CNX Resources (NYSE:CNX) last posted its quarterly earnings data on Thursday, January 25th. The oil and gas producer reported $2.89 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $2.59. CNX Resources had a return on equity of 9.00% and a net margin of 50.34%. The firm had revenue of $999.50 million for the quarter, compared to analyst estimates of $401.62 million. During the same quarter last year, the company earned $1.64 EPS. The company’s revenue was down 38.9% on a year-over-year basis. As a group, research analysts expect that CNX Resources Co. will post 1.29 EPS for the current fiscal year.

Analyst Ratings Changes

CNX has been the subject of a number of recent analyst reports. Mizuho raised their price objective on CNX Resources from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Bank of America upgraded CNX Resources from an “underperform” rating to a “neutral” rating and set a $23.00 target price on the stock in a research note on Friday, January 5th. Piper Sandler increased their target price on CNX Resources from $18.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, April 19th. Truist Financial increased their target price on CNX Resources from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Finally, Scotiabank increased their target price on CNX Resources from $20.00 to $25.00 and gave the stock a “sector underperform” rating in a research note on Thursday, April 11th. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $24.43.

CNX Resources Company 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.