New York State Teachers Retirement System Sells 62,867 Shares of CNX Resources Corporation. (NYSE:CNX)

New York State Teachers Retirement System reduced its position in shares of CNX Resources Corporation. (NYSE:CNX - Free Report) by 27.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 166,291 shares of the oil and gas producer's stock after selling 62,867 shares during the quarter. New York State Teachers Retirement System owned about 0.11% of CNX Resources worth $5,235,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CNX. Charles Schwab Investment Management Inc. raised its stake in CNX Resources by 7.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,000,464 shares of the oil and gas producer's stock worth $73,357,000 after buying an additional 139,647 shares during the period. Raymond James Financial Inc. acquired a new position in CNX Resources during the 4th quarter worth approximately $14,268,000. Callan Family Office LLC acquired a new position in CNX Resources during the 4th quarter worth approximately $223,000. Edgestream Partners L.P. raised its stake in CNX Resources by 45.4% during the 4th quarter. Edgestream Partners L.P. now owns 114,626 shares of the oil and gas producer's stock worth $4,203,000 after buying an additional 35,807 shares during the period. Finally, AlphaQuest LLC acquired a new position in CNX Resources during the 4th quarter worth approximately $686,000. 95.16% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CNX has been the topic of a number of research reports. Morgan Stanley reaffirmed an "underweight" rating and set a $31.00 price target on shares of CNX Resources in a research note on Tuesday, April 15th. Scotiabank raised CNX Resources from a "sector underperform" rating to a "sector perform" rating and set a $33.00 price target on the stock in a research note on Friday, April 11th. Bank of America lowered their price objective on CNX Resources from $32.00 to $27.00 and set an "underperform" rating for the company in a research note on Tuesday, April 1st. JPMorgan Chase & Co. increased their price objective on CNX Resources from $32.00 to $33.00 and gave the stock an "underweight" rating in a research note on Thursday, March 13th. Finally, Piper Sandler increased their price objective on CNX Resources from $21.00 to $25.00 and gave the stock an "underweight" rating in a research note on Tuesday, May 13th. Eight research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $31.58.

CNX Resources Stock Performance

CNX stock opened at $32.02 on Friday. The firm has a market cap of $4.63 billion, a PE ratio of -15.54, a P/E/G ratio of 0.30 and a beta of 0.66. The company has a quick ratio of 0.25, a current ratio of 0.27 and a debt-to-equity ratio of 0.63. The business has a 50 day moving average of $32.11 and a 200-day moving average of $31.25. CNX Resources Corporation. has a 12-month low of $23.85 and a 12-month high of $41.93.

Insider Activity

In other CNX Resources news, Director J. Palmer Clarkson bought 10,000 shares of CNX Resources stock in a transaction dated Monday, May 12th. The stock was bought at an average cost of $31.20 per share, with a total value of $312,000.00. Following the completion of the acquisition, the director directly owned 245,433 shares in the company, valued at approximately $7,657,509.60. The trade was a 4.25% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.10% of the stock is currently owned by corporate insiders.

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.

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