CNX Resources Co. (NYSE:CNX) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its position in CNX Resources Co. (NYSE:CNX) by 104.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 46,170 shares of the oil and gas producer’s stock after buying an additional 23,630 shares during the period. Teacher Retirement System of Texas’ holdings in CNX Resources were worth $1,693,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Harvest Fund Management Co. Ltd acquired a new position in CNX Resources in the 4th quarter worth about $39,000. VSM Wealth Advisory LLC acquired a new position in shares of CNX Resources during the 4th quarter worth approximately $55,000. Principal Securities Inc. lifted its position in shares of CNX Resources by 38.5% during the 4th quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer’s stock valued at $91,000 after buying an additional 691 shares in the last quarter. 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 valued at $119,000 after acquiring an additional 1,280 shares during the period. Finally, Heck Capital Advisors LLC purchased a new stake in CNX Resources in the 4th quarter worth $121,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

CNX Resources Stock Performance

CNX Resources stock opened at $31.58 on Friday. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of -46.44, a price-to-earnings-growth ratio of 0.42 and a beta of 1.26. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32. The firm has a 50 day simple moving average of $29.81 and a 200-day simple moving average of $33.18. CNX Resources Co. has a 1-year low of $22.82 and a 1-year high of $41.93.

CNX Resources (NYSE:CNX) last issued its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share for the quarter, topping 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%. On average, analysts expect that CNX Resources Co. will post 2.18 EPS for the current year.

Insider Buying and Selling

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $31.09, for a total transaction of $33,421,750.00. Following the completion of the transaction, the insider now owns 13,925,000 shares of the company’s stock, valued at $432,928,250. This trade represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 3.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on CNX shares. Stephens upgraded CNX Resources from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $35.00 to $48.00 in a research note on Tuesday, March 18th. Truist Financial boosted their price target on CNX Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Roth Capital set a $30.00 price objective on CNX Resources in a report on Thursday, January 23rd. Raymond James raised shares of CNX Resources from an “underperform” rating to a “market perform” rating in a report on Tuesday, February 18th. Finally, StockNews.com downgraded shares of CNX Resources from a “hold” rating to a “sell” rating in a research note on Thursday, February 13th. Nine investment analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $30.69.

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.