CNX Resources Corporation. $CNX Stock: VIRGINIA RETIREMENT SYSTEMS ET Al Raises Position

VIRGINIA RETIREMENT SYSTEMS ET Al increased its holdings in shares of CNX Resources Corporation. (NYSE:CNX) by 106.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 63,900 shares of the oil and gas producer’s stock after purchasing an additional 33,000 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in CNX Resources were worth $1,992,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in CNX Resources in the 2nd quarter worth about $650,689,000. Dimensional Fund Advisors LP boosted its position in CNX Resources by 0.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,774,069 shares of the oil and gas producer’s stock worth $338,260,000 after acquiring an additional 28,851 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in CNX Resources by 6,057.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,838,852 shares of the oil and gas producer’s stock worth $147,988,000 after acquiring an additional 3,776,511 shares during the period. Bank of America Corp DE purchased a new position in CNX Resources during the 2nd quarter valued at about $87,949,000. Finally, Bank of New York Mellon Corp purchased a new position in CNX Resources during the 2nd quarter valued at about $41,432,000. 95.16% of the stock is owned by institutional investors and hedge funds.

CNX Resources Trading Down 1.5%

NYSE CNX opened at $36.65 on Wednesday. CNX Resources Corporation. has a 1-year low of $30.77 and a 1-year high of $43.62. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $5.24 billion, a PE ratio of 6.21 and a beta of 0.61. The firm’s fifty day simple moving average is $35.08 and its 200-day simple moving average is $36.40.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CNX shares. Benchmark reiterated a “hold” rating on shares of CNX Resources in a report on Thursday, October 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of CNX Resources in a research report on Monday, October 26th. Mizuho decreased their price target on shares of CNX Resources from $42.00 to $38.00 and set a “neutral” rating for the company in a report on Thursday, October 15th. Morgan Stanley boosted their price objective on shares of CNX Resources from $32.00 to $34.00 and gave the company an “underweight” rating in a research report on Thursday, October 15th. Finally, Truist Financial upped their price objective on shares of CNX Resources from $34.00 to $39.00 and gave the company a “hold” rating in a research note on Thursday, October 29th. Nine analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $34.88.

About CNX Resources

CNX Resources Corporation (NYSE:CNX) is an independent natural gas exploration and production company focused on the Appalachian Basin. The company develops and produces natural gas from unconventional shale formations, with its operations concentrated in the Marcellus and Utica shale areas.

CNX’s activities include leasing, drilling, completing and operating natural gas wells, as well as managing related gathering and infrastructure arrangements used to transport production to market.