California State Teachers Retirement System cut its position in CNX Resources Corp (NYSE:CNX) by 5.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 332,457 shares of the oil and gas producer’s stock after selling 18,139 shares during the period. California State Teachers Retirement System owned about 0.17% of CNX Resources worth $3,797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. First Hawaiian Bank grew its stake in CNX Resources by 54.9% during the fourth quarter. First Hawaiian Bank now owns 2,948 shares of the oil and gas producer’s stock valued at $34,000 after acquiring an additional 1,045 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of CNX Resources by 1,126.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 970,403 shares of the oil and gas producer’s stock worth $85,000 after acquiring an additional 891,300 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of CNX Resources by 14.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,414 shares of the oil and gas producer’s stock worth $142,000 after acquiring an additional 1,554 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of CNX Resources in the 4th quarter worth about $172,000. Finally, Quantamental Technologies LLC bought a new stake in shares of CNX Resources in the 4th quarter worth about $175,000. 98.10% of the stock is owned by hedge funds and other institutional investors.
CNX has been the subject of several analyst reports. Robert W. Baird restated a “buy” rating and issued a $15.00 target price on shares of CNX Resources in a report on Monday, February 4th. TheStreet lowered shares of CNX Resources from a “b-” rating to a “c+” rating in a report on Wednesday, March 6th. Susquehanna Bancshares set a $11.00 target price on shares of CNX Resources and gave the stock a “hold” rating in a report on Saturday, February 2nd. Tudor Pickering lowered shares of CNX Resources from a “buy” rating to a “hold” rating in a report on Friday, February 1st. Finally, Zacks Investment Research lowered shares of CNX Resources from a “buy” rating to a “hold” rating in a report on Friday, January 25th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $15.00.
CNX Resources (NYSE:CNX) last posted its earnings results on Thursday, January 31st. The oil and gas producer reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.39. CNX Resources had a net margin of 46.03% and a return on equity of 5.91%. The firm had revenue of $435.46 million during the quarter, compared to analysts’ expectations of $436.26 million. During the same period in the previous year, the business posted ($0.23) EPS. Analysts forecast that CNX Resources Corp will post 0.64 EPS for the current year.
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About CNX Resources
CNX Resources Corporation, an independent oil and gas company, explores for, develops, and produces natural gas primarily in the Appalachian Basin. The company operates through two divisions, Exploration and Production (E&P), and Midstream. The E&P division produces pipeline quality natural gas primarily to gas wholesalers.
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