41,300 Shares in CNX Resources Corporation. $CNX Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new stake in CNX Resources Corporation. (NYSE:CNX) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 41,300 shares of the oil and gas producer’s stock, valued at approximately $1,592,000.

A number of other hedge funds have also recently bought and sold shares of the business. State of Wyoming purchased a new stake in CNX Resources during the 2nd quarter worth approximately $29,000. Smartleaf Asset Management LLC boosted its stake in shares of CNX Resources by 56.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 810 shares of the oil and gas producer’s stock valued at $30,000 after buying an additional 293 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of CNX Resources during the 4th quarter valued at approximately $34,000. Kestra Advisory Services LLC acquired a new stake in shares of CNX Resources during the fourth quarter worth approximately $50,000. Finally, Highlander Partners L.P. acquired a new stake in shares of CNX Resources during the fourth quarter worth approximately $56,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

CNX Resources Price Performance

Shares of NYSE CNX opened at $33.48 on Thursday. The company has a current ratio of 0.49, a quick ratio of 0.46 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $4.74 billion, a price-to-earnings ratio of 4.65 and a beta of 0.59. CNX Resources Corporation. has a twelve month low of $27.72 and a twelve month high of $43.62. The business has a 50 day simple moving average of $35.10 and a 200-day simple moving average of $37.45.

Insider Activity

In other news, Director William N. Thorndike, Jr. sold 28,800 shares of CNX Resources stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $38.25, for a total value of $1,101,600.00. Following the completion of the transaction, the director directly owned 426,585 shares of the company’s stock, valued at approximately $16,316,876.25. The trade was a 6.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 5.03% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Weiss Ratings cut shares of CNX Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, May 28th. Tudor Pickering raised shares of CNX Resources from a “strong sell” rating to a “hold” rating in a report on Friday, May 8th. Zacks Research downgraded shares of CNX Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Truist Financial began coverage on shares of CNX Resources in a research note on Tuesday, March 24th. They issued a “sell” rating and a $35.00 target price on the stock. Finally, Barclays reduced their price target on shares of CNX Resources from $36.00 to $35.00 and set an “underweight” rating on the stock in a research report on Tuesday, May 26th. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, CNX Resources presently has a consensus rating of “Reduce” and an average target price of $35.44.

CNX Resources Company Profile

CNX Resources Corporation is a natural gas and natural gas liquids producer with operations concentrated in the Appalachian Basin. Established as an independent, publicly traded entity in 2018 following its spinoff from Consol Energy, the company focuses on the exploration, development and production of hydrocarbon resources in the Marcellus and Utica shales across Pennsylvania, West Virginia and Ohio.

In addition to its upstream activities, CNX Resources has invested in midstream infrastructure through its subsidiary that gathers, processes and transports natural gas.