CNX Resources Corporation. $CNX Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its stake in CNX Resources Corporation. (NYSE:CNX) by 6.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,237 shares of the oil and gas producer’s stock after selling 1,200 shares during the period. State of Alaska Department of Revenue’s holdings in CNX Resources were worth $546,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC acquired a new position in CNX Resources during the first quarter worth about $718,000. Principal Financial Group Inc. raised its position in CNX Resources by 1.6% during the first quarter. Principal Financial Group Inc. now owns 472,300 shares of the oil and gas producer’s stock worth $14,868,000 after acquiring an additional 7,440 shares during the last quarter. HighTower Advisors LLC raised its position in CNX Resources by 59.7% during the first quarter. HighTower Advisors LLC now owns 46,592 shares of the oil and gas producer’s stock worth $1,467,000 after acquiring an additional 17,424 shares during the last quarter. Bridges Investment Management Inc. raised its position in CNX Resources by 111.3% during the first quarter. Bridges Investment Management Inc. now owns 44,673 shares of the oil and gas producer’s stock worth $1,406,000 after acquiring an additional 23,531 shares during the last quarter. Finally, KBC Group NV raised its position in CNX Resources by 25.0% during the first quarter. KBC Group NV now owns 7,768 shares of the oil and gas producer’s stock worth $245,000 after acquiring an additional 1,552 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Analyst Ratings Changes

CNX has been the subject of a number of research reports. Barclays cut their target price on shares of CNX Resources from $33.00 to $32.00 and set an “equal weight” rating for the company in a research report on Tuesday. Siebert Williams Shank initiated coverage on shares of CNX Resources in a research report on Monday, September 15th. They set a “hold” rating and a $32.00 target price for the company. Zacks Research cut shares of CNX Resources from a “hold” rating to a “strong sell” rating in a research report on Monday. Scotiabank reiterated a “sector perform” rating and set a $35.00 price target (up from $33.00) on shares of CNX Resources in a report on Friday, July 11th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of CNX Resources in a report on Saturday, September 27th. One equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $31.77.

CNX Resources Price Performance

CNX Resources stock opened at $33.82 on Thursday. CNX Resources Corporation. has a 1 year low of $27.00 and a 1 year high of $41.93. The firm has a 50 day moving average price of $30.10 and a 200 day moving average price of $31.17. The company has a market cap of $4.78 billion, a price-to-earnings ratio of 57.32, a PEG ratio of 0.31 and a beta of 0.55. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.30 and a current ratio of 0.33.

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.