VIRGINIA RETIREMENT SYSTEMS ET Al Acquires Shares of 30,900 CNX Resources Corporation. $CNX

Key Points

• Virginia Retirement Systems acquired 30,900 shares of CNX Resources in the second quarter, valued at approximately $1.05 million. Institutional investors collectively own 95.16% of the company.
• CNX reported quarterly earnings of $1.32 per share, beating analyst expectations of $0.60, while revenue reached $618.48 million. However, revenue declined 35.7% year over year.
• Analyst sentiment remains cautious: CNX has an average “Reduce” rating, with nine Hold ratings and three Sell ratings, and an average price target of $35.44 versus its recent $36.00 share price.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of CNX Resources Corporation. (NYSE:CNX - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 30,900 shares of the oil and gas producer's stock, valued at approximately $1,048,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CNX. State of Wyoming purchased a new stake in CNX Resources in the 2nd quarter worth $29,000. Smartleaf Asset Management LLC lifted its holdings in CNX Resources by 56.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 810 shares of the oil and gas producer's stock valued at $30,000 after purchasing an additional 293 shares in the last quarter. Caitlin John LLC acquired a new stake in shares of CNX Resources in the second quarter valued at about $33,000. Los Angeles Capital Management LLC acquired a new stake in shares of CNX Resources in the fourth quarter valued at about $34,000. Finally, Kestra Advisory Services LLC purchased a new stake in shares of CNX Resources during the fourth quarter worth about $50,000. Hedge funds and other institutional investors own 95.16% of the company's stock.

CNX Resources Price Performance

NYSE:CNX opened at $36.00 on Monday. CNX Resources Corporation. has a one year low of $29.22 and a one year high of $43.62. The stock has a market cap of $5.33 billion, a PE ratio of 6.01 and a beta of 0.61. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.72. The stock has a 50 day moving average price of $35.16 and a 200 day moving average price of $36.51.

CNX Resources (NYSE:CNX - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The oil and gas producer reported $1.32 earnings per share for the quarter, topping analysts' consensus estimates of $0.60 by $0.72. The company had revenue of $618.48 million for the quarter, compared to analyst estimates of $475.16 million. CNX Resources had a return on equity of 10.40% and a net margin of 36.53%.The firm's revenue for the quarter was down 35.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.43 earnings per share. Equities research analysts expect that CNX Resources Corporation. will post 3.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CNX has been the subject of several research analyst reports. Barclays reduced their price target on shares of CNX Resources from $36.00 to $35.00 and set an "underweight" rating for the company in a research report on Tuesday, May 26th. Weiss Ratings lowered CNX Resources from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, July 28th. Mizuho dropped their price target on CNX Resources from $44.00 to $42.00 and set a "neutral" rating for the company in a research report on Wednesday, May 27th. Truist Financial raised CNX Resources from a "sell" rating to a "hold" rating and set a $35.00 price objective for the company in a research note on Wednesday, July 15th. Finally, Morgan Stanley decreased their price objective on CNX Resources from $34.00 to $32.00 and set an "underweight" rating on the stock in a report on Monday, June 29th. Nine investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, CNX Resources presently has an average rating of "Reduce" and an average target price of $35.44.

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, primarily from unconventional shale formations, with operations concentrated in the Marcellus and Utica shale regions.

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

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