Teacher Retirement System of Texas Purchases 23,630 Shares of CNX Resources Co. (NYSE:CNX)

Teacher Retirement System of Texas lifted its position in CNX Resources Co. (NYSE:CNX) by 104.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,170 shares of the oil and gas producer’s stock after acquiring an additional 23,630 shares during the quarter. Teacher Retirement System of Texas’ holdings in CNX Resources were worth $1,693,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CNX. Harvest Fund Management Co. Ltd bought a new stake in shares of CNX Resources in the 4th quarter valued at about $39,000. VSM Wealth Advisory LLC bought a new position in CNX Resources in the fourth quarter worth approximately $55,000. Xponance Inc. boosted its position in CNX Resources by 2.9% during the 4th quarter. Xponance Inc. now owns 20,876 shares of the oil and gas producer’s stock valued at $766,000 after acquiring an additional 588 shares in the last quarter. Intech Investment Management LLC raised its position in shares of CNX Resources by 200.3% in the 4th quarter. Intech Investment Management LLC now owns 194,307 shares of the oil and gas producer’s stock worth $7,125,000 after acquiring an additional 129,605 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC boosted its position in CNX Resources by 149.6% during the fourth quarter. Counterpoint Mutual Funds LLC now owns 19,637 shares of the oil and gas producer’s stock valued at $720,000 after purchasing an additional 11,770 shares in the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $31.09, for a total value of $33,421,750.00. Following the sale, the insider now owns 13,925,000 shares in the company, valued at $432,928,250. This represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. StockNews.com cut shares of CNX Resources from a “hold” rating to a “sell” rating in a report on Thursday, February 13th. TD Cowen initiated coverage on shares of CNX Resources in a research note on Wednesday, January 15th. They issued a “hold” rating and a $27.00 target price for the company. Mizuho reduced their price target on CNX Resources from $38.00 to $34.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 14th. Morgan Stanley set a $33.00 price objective on CNX Resources and gave the stock an “underweight” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. upped their target price on CNX Resources from $32.00 to $33.00 and gave the company an “underweight” rating in a research report on Thursday, March 13th. Nine equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, CNX Resources has a consensus rating of “Hold” and an average price target of $30.69.

CNX Resources Price Performance

Shares of NYSE CNX opened at $31.58 on Friday. CNX Resources Co. has a 52 week low of $22.82 and a 52 week high of $41.93. The business’s 50 day moving average price is $29.81 and its 200 day moving average price is $33.18. The company has a quick ratio of 0.32, a current ratio of 0.33 and a debt-to-equity ratio of 0.45. The firm has a market cap of $4.65 billion, a P/E ratio of -46.44, a P/E/G ratio of 0.42 and a beta of 1.26.

CNX Resources (NYSE:CNX) last released its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.57 EPS for the quarter, beating the consensus estimate of $0.43 by $0.14. CNX Resources had a negative net margin of 7.14% and a positive return on equity of 6.72%. On average, sell-side analysts expect that CNX Resources Co. will post 2.18 earnings per share for the current 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.