State of New Jersey Common Pension Fund D Cuts Position in CNX Resources Co. (NYSE:CNX)

State of New Jersey Common Pension Fund D decreased its position in shares of CNX Resources Co. (NYSE:CNX - Free Report) by 12.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 62,639 shares of the oil and gas producer's stock after selling 9,204 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in CNX Resources were worth $2,297,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC raised its position in CNX Resources by 0.3% in the third quarter. Geode Capital Management LLC now owns 3,602,837 shares of the oil and gas producer's stock worth $117,366,000 after acquiring an additional 12,333 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of CNX Resources by 12.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,860,817 shares of the oil and gas producer's stock valued at $60,607,000 after purchasing an additional 202,890 shares during the period. Aureus Asset Management LLC raised its position in shares of CNX Resources by 0.6% during the 3rd quarter. Aureus Asset Management LLC now owns 642,289 shares of the oil and gas producer's stock valued at $20,919,000 after purchasing an additional 3,659 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of CNX Resources by 311.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 616,734 shares of the oil and gas producer's stock valued at $20,087,000 after purchasing an additional 466,694 shares during the period. Finally, Rhumbline Advisers raised its position in shares of CNX Resources by 1.3% during the 4th quarter. Rhumbline Advisers now owns 494,625 shares of the oil and gas producer's stock valued at $18,138,000 after purchasing an additional 6,404 shares during the period. Hedge funds and other institutional investors own 95.16% of the company's stock.

Insider Activity at CNX Resources

In other news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the business's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $31.09, for a total value of $33,421,750.00. Following the completion of the sale, the insider now owns 13,925,000 shares in the company, valued at approximately $432,928,250. The trade was a 7.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.10% of the stock is currently owned by company insiders.

CNX Resources Trading Down 0.4 %

Shares of CNX opened at $29.51 on Friday. CNX Resources Co. has a 1-year low of $20.30 and a 1-year high of $41.93. The company has a 50-day moving average of $31.58 and a 200 day moving average of $32.58. The firm has a market capitalization of $4.39 billion, a price-to-earnings ratio of -43.39, a PEG ratio of 0.40 and a beta of 1.38. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32.

CNX Resources (NYSE:CNX - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share for the quarter, beating analysts' consensus estimates of $0.43 by $0.14. CNX Resources had a negative net margin of 7.14% and a positive return on equity of 6.72%. On average, research analysts expect that CNX Resources Co. will post 2.36 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Mizuho cut their target price on shares of CNX Resources from $38.00 to $34.00 and set an "underperform" rating for the company in a research note on Tuesday, January 14th. StockNews.com cut shares of CNX Resources from a "hold" rating to a "sell" rating in a research note on Thursday, February 13th. Truist Financial raised their target price on shares of CNX Resources from $34.00 to $35.00 and gave the company a "hold" rating in a research note on Friday, December 6th. Morgan Stanley assumed coverage on shares of CNX Resources in a research note on Friday, January 10th. They set an "underweight" rating and a $29.00 target price for the company. Finally, TD Cowen assumed coverage on shares of CNX Resources in a research note on Wednesday, January 15th. They set a "hold" rating and a $27.00 target price for the company. Nine equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company's stock. According to MarketBeat.com, CNX Resources has an average rating of "Reduce" and a consensus price target of $29.67.

CNX Resources 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.

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