Strs Ohio Raises Stock Position in CNX Resources Co. (NYSE:CNX)

Strs Ohio lifted its stake in CNX Resources Co. (NYSE:CNX) by 31.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,800 shares of the oil and gas producer’s stock after buying an additional 3,800 shares during the quarter. Strs Ohio’s holdings in CNX Resources were worth $316,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Algert Global LLC purchased a new position in CNX Resources during the third quarter worth $350,000. QRG Capital Management Inc. bought a new position in CNX Resources during the 3rd quarter valued at about $3,542,000. Comerica Bank purchased a new stake in CNX Resources in the 3rd quarter worth about $4,054,000. Stifel Financial Corp lifted its stake in CNX Resources by 444.1% in the third quarter. Stifel Financial Corp now owns 137,247 shares of the oil and gas producer’s stock worth $3,099,000 after purchasing an additional 112,023 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of CNX Resources during the third quarter valued at approximately $1,343,000. Institutional investors own 95.16% of the company’s stock.

Analyst Upgrades and Downgrades

CNX has been the subject of a number of research analyst reports. Bank of America raised CNX Resources from an “underperform” rating to a “neutral” rating and set a $23.00 price target for the company in a research note on Friday, January 5th. Truist Financial boosted their target price on shares of CNX Resources from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Piper Sandler raised their price target on shares of CNX Resources from $18.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, April 19th. Roth Mkm boosted their price objective on shares of CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. Finally, Scotiabank upped their target price on shares of CNX Resources from $20.00 to $25.00 and gave the stock a “sector underperform” rating in a research note on Thursday, April 11th. 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 company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $24.43.

CNX Resources Price Performance

NYSE CNX opened at $24.15 on Tuesday. The firm’s fifty day simple moving average is $22.68 and its two-hundred day simple moving average is $21.41. The firm has a market capitalization of $3.70 billion, a P/E ratio of 4.38 and a beta of 1.33. The company has a current ratio of 0.53, a quick ratio of 0.51 and a debt-to-equity ratio of 0.45. CNX Resources Co. has a 12-month low of $14.41 and a 12-month high of $24.82.

Insider Transactions at CNX Resources

In related news, EVP Timothy Scott Bedard sold 1,226 shares of the company’s 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 directly owns 67,982 shares of the company’s stock, valued at approximately $1,416,065.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 4.65% of the company’s stock.

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.