New York State Teachers Retirement System Sells 24,300 Shares of CNX Resources Corp (NYSE:CNX)

New York State Teachers Retirement System reduced its stake in shares of CNX Resources Corp (NYSE:CNX) by 6.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 339,453 shares of the oil and gas producer’s stock after selling 24,300 shares during the quarter. New York State Teachers Retirement System owned 0.17% of CNX Resources worth $2,481,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. bought a new position in shares of CNX Resources during the first quarter valued at about $452,000. Norges Bank bought a new stake in shares of CNX Resources in the fourth quarter worth about $41,498,000. Gateway Investment Advisers LLC grew its stake in shares of CNX Resources by 59.5% in the second quarter. Gateway Investment Advisers LLC now owns 47,018 shares of the oil and gas producer’s stock worth $344,000 after purchasing an additional 17,548 shares during the last quarter. Investors Research Corp bought a new stake in shares of CNX Resources in the first quarter worth about $57,000. Finally, Texas Permanent School Fund grew its stake in shares of CNX Resources by 1.1% in the first quarter. Texas Permanent School Fund now owns 134,666 shares of the oil and gas producer’s stock worth $1,450,000 after purchasing an additional 1,433 shares during the last quarter. 95.98% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE CNX traded down $0.44 during trading hours on Monday, hitting $6.83. The company’s stock had a trading volume of 104,964 shares, compared to its average volume of 5,068,448. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.59 and a current ratio of 0.74. The stock has a market capitalization of $1.36 billion, a PE ratio of 4.51 and a beta of 0.67. CNX Resources Corp has a 12 month low of $6.14 and a 12 month high of $16.42. The stock has a 50-day moving average price of $7.18.

CNX Resources (NYSE:CNX) last posted its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.06). The business had revenue of $605.03 million during the quarter, compared to the consensus estimate of $357.30 million. CNX Resources had a return on equity of 4.09% and a net margin of 17.60%. The firm’s revenue for the quarter was up 50.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.33 earnings per share. On average, equities research analysts anticipate that CNX Resources Corp will post 0.57 earnings per share for the current fiscal year.

In related news, Director Bernard Lanigan, Jr. acquired 200,000 shares of the stock in a transaction on Friday, July 26th. The stock was acquired at an average cost of $6.39 per share, for a total transaction of $1,278,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director J. Palmer Clarkson acquired 10,000 shares of the stock in a transaction on Monday, June 10th. The stock was bought at an average price of $7.50 per share, with a total value of $75,000.00. The disclosure for this purchase can be found here. Insiders acquired 497,550 shares of company stock valued at $3,489,382 over the last 90 days. 2.40% of the stock is currently owned by company insiders.

Separately, Zacks Investment Research raised CNX Resources from a “sell” rating to a “hold” rating and set a $9.00 target price on the stock in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $13.60.

CNX Resources Profile

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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Institutional Ownership by Quarter for CNX Resources (NYSE:CNX)

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