Dimensional Fund Advisors Cuts CNX Resources Stake to 5.9%

Ticker: CNX · Form: SC 13G/A · Filed: 2024-02-09T00:00:00.000Z

Sentiment: mixed

Topics: institutional-ownership, stake-reduction, SC-13G/A, energy

TL;DR

**Dimensional Fund Advisors just trimmed its CNX Resources stake to 5.9%.**

AI Summary

Dimensional Fund Advisors LP, a major investment firm, filed an amended Schedule 13G/A on February 9, 2024, indicating a change in its ownership of CNX Resources Corp's common stock. As of December 29, 2023, Dimensional Fund Advisors LP reported beneficial ownership of 10,774,904 shares, representing 5.9% of CNX Resources Corp's outstanding common stock. This is a decrease from their previous reported ownership, signaling a reduction in their stake in the natural gas producer. This matters to investors because a large institutional investor reducing its position could suggest a less bullish outlook on the company's future performance or a reallocation of capital.

Why It Matters

A significant institutional investor like Dimensional Fund Advisors reducing its stake in CNX Resources Corp could signal a shift in their investment strategy or a less favorable view of the company's prospects, potentially influencing other investors' decisions.

Risk Assessment

Risk Level: medium — A large institutional investor reducing its position can sometimes precede a period of underperformance for the stock, though it's not a guarantee.

Analyst Insight

Investors should monitor CNX Resources Corp's stock performance and future institutional ownership filings to see if this reduction by Dimensional Fund Advisors LP is an isolated event or part of a broader trend among large investors.

Key Numbers

10,774,904 — Shares Beneficially Owned (This is the total number of CNX Resources Corp common shares Dimensional Fund Advisors LP now owns.)
5.9% — Percentage of Class (This represents the percentage of CNX Resources Corp's outstanding common stock owned by Dimensional Fund Advisors LP.)
December 29, 2023 — Reporting Date (This is the specific date as of which the ownership percentage was calculated for this filing.)

Key Players & Entities

Dimensional Fund Advisors LP (company) — the reporting person who filed the SC 13G/A
CNX Resources Corp (company) — the issuer whose common stock is being reported
10,774,904 shares (dollar_amount) — the total number of shares beneficially owned by Dimensional Fund Advisors LP
5.9% (dollar_amount) — the percentage of CNX Resources Corp's class of securities beneficially owned
December 29, 2023 (date) — the date of the event which required the filing of this statement

Forward-Looking Statements

Other institutional investors may review their positions in CNX Resources Corp following Dimensional Fund Advisors LP's reduction. (CNX Resources Corp) — medium confidence, target: Q2 2024

FAQ

Who filed this SC 13G/A amendment regarding CNX Resources Corp?

Dimensional Fund Advisors LP filed this SC 13G/A amendment, as indicated in the 'FILED BY' section and the 'NAMES OF REPORTING PERSONS' on the cover page.

What is the CUSIP number for CNX Resources Corp's common stock mentioned in the filing?

The CUSIP number for CNX Resources Corp's common stock is 12653C108, as stated on the cover page of the Schedule 13G.

As of what date did the event occur that required this filing?

The date of the event which required the filing of this statement was December 29, 2023, as specified on the cover page.

What percentage of CNX Resources Corp's common stock does Dimensional Fund Advisors LP beneficially own according to this filing?

Dimensional Fund Advisors LP beneficially owns 5.9% of CNX Resources Corp's common stock, as reported on the cover page.

What is the total number of shares beneficially owned by Dimensional Fund Advisors LP in CNX Resources Corp?

Dimensional Fund Advisors LP beneficially owns 10,774,904 shares of CNX Resources Corp, as detailed on the cover page.

From the Filing

0000354204-24-002953.txt : 20240209 0000354204-24-002953.hdr.sgml : 20240209 20240209095857 ACCESSION NUMBER: 0000354204-24-002953 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240209 DATE AS OF CHANGE: 20240209 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: CNX Resources Corp CENTRAL INDEX KEY: 0001070412 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] ORGANIZATION NAME: 01 Energy & Transportation IRS NUMBER: 510337383 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-56369 FILM NUMBER: 24612131 BUSINESS ADDRESS: STREET 1: CNX CENTER STREET 2: 1000 CONSOL ENERGY DRIVE CITY: CANONSBURG STATE: PA ZIP: 15317 BUSINESS PHONE: 724-485-4000 MAIL ADDRESS: STREET 1: CNX CENTER STREET 2: 1000 CONSOL ENERGY DRIVE CITY: CANONSBURG STATE: PA ZIP: 15317 FORMER COMPANY: FORMER CONFORMED NAME: CONSOL Energy Inc DATE OF NAME CHANGE: 20090303 FORMER COMPANY: FORMER CONFORMED NAME: CONSOL ENERGY INC DATE OF NAME CHANGE: 19980915 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: DIMENSIONAL FUND ADVISORS LP CENTRAL INDEX KEY: 0000354204 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] ORGANIZATION NAME: IRS NUMBER: 222370029 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 6300 BEE CAVE ROAD STREET 2: BUILDING ONE CITY: AUSTIN STATE: TX ZIP: 78746 BUSINESS PHONE: (512) 306-7400 MAIL ADDRESS: STREET 1: 6300 BEE CAVE ROAD STREET 2: BUILDING ONE CITY: AUSTIN STATE: TX ZIP: 78746 FORMER COMPANY: FORMER CONFORMED NAME: DIMENSIONAL FUND ADVISORS INC DATE OF NAME CHANGE: 19920929 SC 13G/A 1 SEC13G_Filing.htm SEC SCHEDULE 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 6 ) * CNX Resources Corp (Name of Issuer) Common Stock (Title of Class of Securities) 12653C108 (CUSIP Number) December 29, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 (the "Act") or otherwise subject to the liabilities of that section of the Act, but shall be subject to all other provisions of the Act (however, see the Notes.) CUSIP No. 12653C108 1. NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Dimensional Fund Advisors LP 30-0447847 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [X] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware Limited Partnership NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 13,427,450 ** see Note 1 ** 6. SHARED VOTING POWER 0 7. SOLE DISPOSITIVE POWER 13,472,040 ** see Note 1 ** 8. SHARED DISPOSITIVE POWER 0 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 13,472,040 ** see Note 1 ** 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 8.5% 12. TYPE OF REPORTING PERSON IA Item 1. (a) Name of Issuer CNX Resources Corp (b) Address of Issuer's Principal Executive Offices 1000 Consol Energy Drive, Canonsburg, PA 15317 Item 2. (a) Name of Person Filing Dimensional Fund Advisors LP (b) Address of Principal Business Office or, if None, Residence 6300 Bee Cave Road, Building One, Austin, TX 78746 (c) Citizenship Delaware Limited Partnership (d) Title of Class of Securities