Canada Pension Plan Investment Board Has $5.43 Million Position in CNX Resources Co. (NYSE:CNX)

Canada Pension Plan Investment Board cut its position in CNX Resources Co. (NYSE:CNX) by 13.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 223,400 shares of the oil and gas producer’s stock after selling 33,700 shares during the quarter. Canada Pension Plan Investment Board owned about 0.15% of CNX Resources worth $5,429,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Pullen Investment Management LLC boosted its position in shares of CNX Resources by 2.3% in the second quarter. Pullen Investment Management LLC now owns 27,399 shares of the oil and gas producer’s stock valued at $666,000 after acquiring an additional 623 shares during the period. GAMMA Investing LLC boosted its holdings in CNX Resources by 54.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock valued at $46,000 after purchasing an additional 666 shares during the period. Riverwater Partners LLC boosted its holdings in CNX Resources by 1.0% in the 1st quarter. Riverwater Partners LLC now owns 65,673 shares of the oil and gas producer’s stock valued at $1,558,000 after purchasing an additional 676 shares during the period. Vanguard Personalized Indexing Management LLC grew its position in shares of CNX Resources by 3.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 29,307 shares of the oil and gas producer’s stock worth $712,000 after purchasing an additional 941 shares in the last quarter. Finally, Congress Asset Management Co. MA increased its holdings in shares of CNX Resources by 0.4% during the fourth quarter. Congress Asset Management Co. MA now owns 265,558 shares of the oil and gas producer’s stock worth $5,311,000 after purchasing an additional 945 shares during the period. Institutional investors own 95.16% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on CNX. Piper Sandler downgraded CNX Resources from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $22.00 to $20.00 in a research report on Thursday, August 15th. StockNews.com cut CNX Resources from a “hold” rating to a “sell” rating in a research report on Saturday, August 3rd. Scotiabank upped their price objective on shares of CNX Resources from $25.00 to $27.00 and gave the stock a “sector underperform” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. raised their target price on shares of CNX Resources from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Finally, Truist Financial upped their price target on shares of CNX Resources from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $26.13.

Insider Buying and Selling at CNX Resources

In other news, Director Bernard Lanigan, Jr. acquired 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 completion of the purchase, the director now directly owns 401,820 shares of the company’s stock, valued at approximately $10,772,794.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.10% of the company’s stock.

CNX Resources Price Performance

CNX stock opened at $30.54 on Thursday. The stock has a market cap of $4.68 billion, a price-to-earnings ratio of 5.53 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 company has a 50 day simple moving average of $27.05 and a 200 day simple moving average of $25.20. CNX Resources Co. has a 1 year low of $19.07 and a 1 year high of $32.26.

CNX Resources (NYSE:CNX) last announced its quarterly earnings results on Thursday, July 25th. The oil and gas producer reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.09. CNX Resources had a return on equity of 7.51% and a net margin of 26.64%. The company had revenue of $321.44 million during the quarter, compared to analysts’ expectations of $387.46 million. During the same period in the prior year, the company earned $0.29 EPS. Research analysts anticipate that CNX Resources Co. will post 1.44 EPS for the current fiscal year.

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.