CNX Resources Co. (NYSE:CNX) Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D grew its stake in shares of CNX Resources Co. (NYSE:CNX) by 6.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 120,024 shares of the oil and gas producer’s stock after purchasing an additional 7,535 shares during the period. State of New Jersey Common Pension Fund D owned about 0.08% of CNX Resources worth $2,400,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Invesco Ltd. grew its position in CNX Resources by 11.7% during the 3rd quarter. Invesco Ltd. now owns 3,587,664 shares of the oil and gas producer’s stock worth $81,009,000 after purchasing an additional 376,245 shares in the last quarter. American Century Companies Inc. boosted its position in shares of CNX Resources by 11.2% in the third quarter. American Century Companies Inc. now owns 2,154,145 shares of the oil and gas producer’s stock worth $48,641,000 after buying an additional 217,753 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of CNX Resources by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,445,994 shares of the oil and gas producer’s stock valued at $32,651,000 after buying an additional 15,283 shares in the last quarter. Brandywine Global Investment Management LLC raised its position in CNX Resources by 5.1% during the third quarter. Brandywine Global Investment Management LLC now owns 927,237 shares of the oil and gas producer’s stock valued at $20,937,000 after buying an additional 44,690 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in CNX Resources in the 3rd quarter worth about $19,018,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Timothy Scott Bedard sold 1,226 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $1,416,065.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 4.65% of the company’s stock.

CNX Resources Stock Down 2.5 %

CNX stock opened at $22.93 on Thursday. The company has a current ratio of 0.53, a quick ratio of 0.51 and a debt-to-equity ratio of 0.45. The firm has a market cap of $3.51 billion, a PE ratio of 4.15 and a beta of 1.33. CNX Resources Co. has a 1 year low of $14.41 and a 1 year high of $24.82. The company has a fifty day simple moving average of $22.75 and a 200 day simple moving average of $21.42.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CNX shares. Scotiabank lifted their target price on CNX Resources from $20.00 to $25.00 and gave the company a “sector underperform” rating in a research note on Thursday, April 11th. 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. Piper Sandler upped their price objective on shares of CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, April 19th. Roth Mkm lifted their target price on shares of CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Finally, Bank of America upgraded shares of CNX Resources from an “underperform” rating to a “neutral” rating and set a $23.00 price target on the stock in a report on Friday, January 5th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, CNX Resources presently has an average rating of “Hold” and a consensus 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.