State of New Jersey Common Pension Fund D Buys 7,535 Shares of CNX Resources Co. (NYSE:CNX)

State of New Jersey Common Pension Fund D boosted its position in shares of CNX Resources Co. (NYSE:CNX) by 6.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 120,024 shares of the oil and gas producer’s stock after acquiring an additional 7,535 shares during the period. State of New Jersey Common Pension Fund D’s holdings in CNX Resources were worth $2,400,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Jacobs Levy Equity Management Inc. acquired a new position in shares of CNX Resources during the third quarter worth about $19,018,000. AQR Capital Management LLC grew its stake in shares of CNX Resources by 2,200.5% during the 3rd quarter. AQR Capital Management LLC now owns 676,745 shares of the oil and gas producer’s stock worth $15,281,000 after acquiring an additional 647,328 shares in the last quarter. LSV Asset Management raised its holdings in shares of CNX Resources by 472.1% in the third quarter. LSV Asset Management now owns 460,548 shares of the oil and gas producer’s stock valued at $10,399,000 after purchasing an additional 380,048 shares during the last quarter. Invesco Ltd. lifted its position in shares of CNX Resources by 11.7% in the third quarter. Invesco Ltd. now owns 3,587,664 shares of the oil and gas producer’s stock worth $81,009,000 after purchasing an additional 376,245 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in CNX Resources by 130.2% during the third quarter. Envestnet Asset Management Inc. now owns 496,495 shares of the oil and gas producer’s stock worth $11,211,000 after purchasing an additional 280,849 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on CNX. Piper Sandler lifted their price target 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. Roth Mkm lifted their target price on CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. Scotiabank increased their price target on CNX Resources from $20.00 to $25.00 and gave the company a “sector underperform” rating in a research report on Thursday, April 11th. Truist Financial raised their price target on CNX Resources from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Finally, Bank of America upgraded CNX Resources from an “underperform” rating to a “neutral” rating and set a $23.00 price objective on the stock in a research note on Friday, January 5th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, CNX Resources currently has a consensus rating of “Hold” and a consensus price target of $24.43.

CNX Resources Price Performance

NYSE:CNX opened at $22.93 on Thursday. CNX Resources Co. has a 12-month low of $14.41 and a 12-month high of $24.82. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of 4.15 and a beta of 1.33. The stock’s 50 day moving average price is $22.75 and its two-hundred day moving average price is $21.42. The company has a quick ratio of 0.51, a current ratio of 0.53 and a debt-to-equity ratio of 0.45.

Insider Buying and Selling

In other CNX Resources news, EVP Timothy Scott Bedard sold 1,226 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $20.83, for a total transaction of $25,537.58. Following the completion of the sale, the executive vice president now owns 67,982 shares of the company’s stock, valued at approximately $1,416,065.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.65% of the stock is owned by 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.