CNX Resources Co. (NYSE:CNX) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky reduced its stake in CNX Resources Co. (NYSE:CNX) by 3.8% during the 4th quarter, Holdings Channel reports. The fund owned 59,551 shares of the oil and gas producer’s stock after selling 2,330 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in CNX Resources were worth $2,184,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in CNX. World Investment Advisors LLC acquired a new stake in shares of CNX Resources during the 3rd quarter worth about $534,000. CWA Asset Management Group LLC purchased a new position in shares of CNX Resources during the fourth quarter valued at approximately $241,000. Empirical Asset Management LLC acquired a new stake in CNX Resources during the fourth quarter worth approximately $9,281,000. Blue Trust Inc. grew its stake in CNX Resources by 65.1% in the 4th quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer’s stock worth $119,000 after acquiring an additional 1,280 shares during the period. Finally, KBC Group NV grew its stake in CNX Resources by 41.0% in the 4th quarter. KBC Group NV now owns 6,216 shares of the oil and gas producer’s stock worth $228,000 after acquiring an additional 1,806 shares during the period. Institutional investors and hedge funds own 95.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Piper Sandler decreased their price objective on CNX Resources from $22.00 to $21.00 and set an “underweight” rating on the stock in a report on Tuesday. Bank of America decreased their price target on CNX Resources from $32.00 to $27.00 and set an “underperform” rating on the stock in a research note on Tuesday, April 1st. Stephens upgraded CNX Resources from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $35.00 to $48.00 in a report on Tuesday, March 18th. Morgan Stanley reiterated an “underweight” rating and set a $31.00 price objective on shares of CNX Resources in a report on Tuesday, April 15th. Finally, Roth Capital set a $30.00 target price on shares of CNX Resources in a report on Thursday, January 23rd. Eight investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, CNX Resources presently has an average rating of “Hold” and a consensus target price of $31.17.

CNX Resources Price Performance

CNX Resources stock opened at $28.95 on Friday. The company has a quick ratio of 0.32, a current ratio of 0.33 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $4.26 billion, a P/E ratio of -42.57, a PEG ratio of 0.42 and a beta of 1.33. The firm has a fifty day moving average of $30.27 and a 200-day moving average of $33.09. CNX Resources Co. has a 52-week low of $22.82 and a 52-week high of $41.93.

CNX Resources (NYSE:CNX) last released its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.57 EPS for the quarter, beating the consensus estimate of $0.43 by $0.14. CNX Resources had a positive return on equity of 6.72% and a negative net margin of 7.14%. As a group, analysts predict that CNX Resources Co. will post 2.18 EPS 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.