Texas Permanent School Fund Corp Has $5.45 Million Stock Position in CNX Resources Co. (NYSE:CNX)

Texas Permanent School Fund Corp grew its stake in shares of CNX Resources Co. (NYSE:CNX) by 68.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 224,416 shares of the oil and gas producer’s stock after purchasing an additional 91,570 shares during the quarter. Texas Permanent School Fund Corp owned about 0.15% of CNX Resources worth $5,453,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd acquired a new position in shares of CNX Resources during the 4th quarter worth approximately $798,000. Parkwood LLC boosted its stake in shares of CNX Resources by 11.2% during the 4th quarter. Parkwood LLC now owns 490,435 shares of the oil and gas producer’s stock worth $9,809,000 after acquiring an additional 49,278 shares during the period. QRG Capital Management Inc. boosted its stake in shares of CNX Resources by 13.8% during the 2nd quarter. QRG Capital Management Inc. now owns 190,498 shares of the oil and gas producer’s stock worth $4,629,000 after acquiring an additional 23,069 shares during the period. Duality Advisers LP boosted its stake in shares of CNX Resources by 61.1% during the 1st quarter. Duality Advisers LP now owns 131,196 shares of the oil and gas producer’s stock worth $3,112,000 after acquiring an additional 49,741 shares during the period. Finally, Boston Partners bought a new position in shares of CNX Resources during the 1st quarter worth approximately $951,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

CNX Resources Price Performance

Shares of NYSE CNX opened at $27.06 on Friday. The stock has a market capitalization of $4.15 billion, a PE ratio of 4.90 and a beta of 1.37. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.41 and a quick ratio of 0.40. The business has a fifty day moving average price of $26.30 and a two-hundred day moving average price of $24.62. CNX Resources Co. has a fifty-two week low of $19.07 and a fifty-two week high of $28.23.

CNX Resources (NYSE:CNX) last announced its quarterly earnings data on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.09. The firm had revenue of $321.44 million during the quarter, compared to analysts’ expectations of $387.46 million. CNX Resources had a return on equity of 7.51% and a net margin of 26.64%. During the same period in the previous year, the firm earned $0.29 EPS. As a group, equities analysts predict that CNX Resources Co. will post 1.47 earnings per share for the current fiscal year.

Insider Buying and Selling at CNX Resources

In other CNX Resources news, Director Bernard Lanigan, Jr. purchased 75,000 shares of the stock in a transaction dated Monday, September 9th. The stock was bought at an average price of $26.81 per share, with a total value of $2,010,750.00. Following the acquisition, the director now owns 401,820 shares of the company’s stock, valued at $10,772,794.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CNX. StockNews.com downgraded CNX Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd. Truist Financial lifted their target price on CNX Resources from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Scotiabank lifted their target price on CNX Resources from $25.00 to $27.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. boosted their price target on CNX Resources from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Piper Sandler downgraded CNX Resources from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $22.00 to $20.00 in a research note on Thursday, August 15th. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, CNX Resources has an average rating of “Hold” and a consensus price target of $25.75.

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.