State of New Jersey Common Pension Fund D Sells 16,185 Shares of CNX Resources Corporation. $CNX

State of New Jersey Common Pension Fund D cut its holdings in shares of CNX Resources Corporation. (NYSE:CNX) by 21.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 58,058 shares of the oil and gas producer’s stock after selling 16,185 shares during the period. State of New Jersey Common Pension Fund D’s holdings in CNX Resources were worth $2,135,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. M&T Bank Corp raised its position in shares of CNX Resources by 28.6% in the 4th quarter. M&T Bank Corp now owns 15,412 shares of the oil and gas producer’s stock worth $567,000 after acquiring an additional 3,427 shares in the last quarter. Autumn Glory Partners LLC acquired a new position in shares of CNX Resources during the fourth quarter valued at about $221,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of CNX Resources by 7.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,784 shares of the oil and gas producer’s stock valued at $1,647,000 after acquiring an additional 2,970 shares in the last quarter. GF Fund Management CO. LTD. raised its position in shares of CNX Resources by 1.9% in the 4th quarter. GF Fund Management CO. LTD. now owns 40,002 shares of the oil and gas producer’s stock valued at $1,471,000 after purchasing an additional 744 shares during the last quarter. Finally, CWM LLC raised its position in shares of CNX Resources by 28.1% in the 4th quarter. CWM LLC now owns 4,108 shares of the oil and gas producer’s stock valued at $151,000 after purchasing an additional 900 shares during the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at CNX Resources

In other CNX Resources news, Director Maureen Lally-Green sold 23,631 shares of the business’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $39.52, for a total value of $933,897.12. Following the transaction, the director directly owned 169,577 shares in the company, valued at $6,701,683.04. The trade was a 12.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William N. Thorndike, Jr. sold 28,800 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $38.25, for a total value of $1,101,600.00. Following the completion of the transaction, the director owned 426,585 shares in the company, valued at $16,316,876.25. This represents a 6.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 98,550 shares of company stock valued at $3,907,929. 5.03% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on the company. Morgan Stanley reaffirmed an “underweight” rating on shares of CNX Resources in a research report on Friday, March 27th. Barclays upped their price target on shares of CNX Resources from $35.00 to $36.00 and gave the company an “underweight” rating in a report on Monday, March 16th. Truist Financial began coverage on CNX Resources in a report on Tuesday, March 24th. They set a “sell” rating and a $35.00 target price on the stock. Zacks Research cut shares of CNX Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Finally, Weiss Ratings upgraded CNX Resources from a “hold (c)” rating to a “buy (b)” rating in a research report on Wednesday, February 11th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $35.67.

CNX Resources Price Performance

CNX Resources stock opened at $35.73 on Friday. CNX Resources Corporation. has a 52-week low of $27.72 and a 52-week high of $43.62. The firm has a market capitalization of $5.06 billion, a price-to-earnings ratio of 4.96, a PEG ratio of 0.38 and a beta of 0.64. The company has a quick ratio of 0.46, a current ratio of 0.49 and a debt-to-equity ratio of 0.47. The company has a fifty day simple moving average of $39.73 and a 200-day simple moving average of $38.03.

About CNX Resources

CNX Resources Corporation is a natural gas and natural gas liquids producer with operations concentrated in the Appalachian Basin. Established as an independent, publicly traded entity in 2018 following its spinoff from Consol Energy, the company focuses on the exploration, development and production of hydrocarbon resources in the Marcellus and Utica shales across Pennsylvania, West Virginia and Ohio.

In addition to its upstream activities, CNX Resources has invested in midstream infrastructure through its subsidiary that gathers, processes and transports natural gas.