Louisiana State Employees Retirement System Takes $892,000 Position in CNX Resources Co. (NYSE:CNX)

Louisiana State Employees Retirement System acquired a new stake in shares of CNX Resources Co. (NYSE:CNX - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 44,600 shares of the oil and gas producer's stock, valued at approximately $892,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Algert Global LLC bought a new position in shares of CNX Resources during the third quarter valued at approximately $350,000. QRG Capital Management Inc. bought a new position in shares of CNX Resources during the third quarter valued at approximately $3,542,000. Comerica Bank bought a new position in shares of CNX Resources during the third quarter valued at approximately $4,054,000. Stifel Financial Corp boosted 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 valued at $3,099,000 after acquiring an additional 112,023 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in CNX Resources in the third quarter valued at approximately $1,343,000. 95.16% of the stock is currently owned by institutional investors.

CNX Resources Stock Performance

Shares of NYSE CNX traded up $0.06 during midday trading on Friday, reaching $24.01. The company had a trading volume of 2,522,106 shares, compared to its average volume of 2,967,365. The company has a current ratio of 0.51, a quick ratio of 0.49 and a debt-to-equity ratio of 0.43. The business's 50-day simple moving average is $22.59 and its 200 day simple moving average is $21.42. CNX Resources Co. has a 1 year low of $14.36 and a 1 year high of $24.82. The stock has a market cap of $3.68 billion, a P/E ratio of 2.64 and a beta of 1.33.

CNX Resources (NYSE:CNX - Get Free Report) last issued its earnings results on Thursday, January 25th. The oil and gas producer reported $2.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $2.59. CNX Resources had a net margin of 50.34% and a return on equity of 9.00%. The firm had revenue of $999.50 million during the quarter, compared to analysts' expectations of $401.62 million. During the same quarter last year, the company posted $1.64 earnings per share. The firm's revenue was down 38.9% compared to the same quarter last year. On average, analysts forecast that CNX Resources Co. will post 1.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CNX Resources news, EVP Timothy Scott Bedard bought 1,226 shares of CNX Resources stock in a transaction that occurred on Friday, February 23rd. The stock was purchased at an average price of $20.50 per share, with a total value of $25,133.00. Following the completion of the acquisition, the executive vice president now directly owns 1,226 shares in the company, valued at approximately $25,133. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CNX shares. Mizuho raised their target price on shares of CNX Resources from $24.00 to $25.00 and gave the company a "neutral" rating in a research note on Thursday, April 11th. Piper Sandler raised their target price on shares of CNX Resources from $18.00 to $22.00 and gave the company a "neutral" rating in a research note on Friday, April 19th. Scotiabank raised their target price on shares of CNX Resources from $20.00 to $25.00 and gave the company a "sector underperform" rating in a research note on Thursday, April 11th. Truist Financial raised their price target on shares of CNX Resources from $28.00 to $30.00 and gave the stock a "buy" rating in a report on Friday, April 5th. Finally, Bank of America raised shares of CNX Resources from an "underperform" rating to a "neutral" rating and set a $23.00 price target for the company in a report on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, CNX Resources has an average rating of "Hold" and a consensus price target of $24.43.

CNX Resources Company 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.