Key Points
- Bernard Lanigan Jr. sold 46,119 CNX shares on Feb 19 at an average price of $40.60, realizing about $1.87M and cutting his ownership by 20.65% to 177,180 shares (≈$7.19M).
- CNX beat expectations in the Jan 29 quarter with EPS of $1.28 vs. $0.34 expected and revenue of $610.5M, a 347% year‑over‑year increase.
- The company has a market cap of about $5.44B, a 12‑month range of $27.68–$42.13, is 95.16% institutionally owned, and carries a MarketBeat consensus rating of "Reduce" with a $36 price target.
CNX Resources Corporation. (NYSE:CNX - Get Free Report) Director Bernard Lanigan, Jr. sold 46,119 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $40.60, for a total transaction of $1,872,431.40. Following the completion of the sale, the director owned 177,180 shares in the company, valued at approximately $7,193,508. This trade represents a 20.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
CNX Resources Price Performance
Shares of CNX stock opened at $38.24 on Tuesday. The firm has a market capitalization of $5.44 billion, a price-to-earnings ratio of 10.39, a price-to-earnings-growth ratio of 0.42 and a beta of 0.66. CNX Resources Corporation. has a 12-month low of $27.68 and a 12-month high of $42.13. The company has a quick ratio of 0.41, a current ratio of 0.44 and a debt-to-equity ratio of 0.52. The firm has a fifty day moving average of $37.64 and a 200-day moving average of $34.72.
CNX Resources (NYSE:CNX - Get Free Report) last posted its earnings results on Thursday, January 29th. The oil and gas producer reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.94. CNX Resources had a return on equity of 9.29% and a net margin of 28.28%.The firm had revenue of $610.48 million during the quarter, compared to analysts' expectations of $422.65 million. During the same period in the previous year, the firm earned ($0.97) earnings per share. The company's revenue was up 347.0% on a year-over-year basis. On average, equities research analysts forecast that CNX Resources Corporation. will post 2.18 earnings per share for the current year.
Institutional Investors Weigh In On CNX Resources
A number of institutional investors and hedge funds have recently modified their holdings of CNX. Capital Research Global Investors grew its holdings in CNX Resources by 38.6% during the third quarter. Capital Research Global Investors now owns 3,950,000 shares of the oil and gas producer's stock worth $126,874,000 after purchasing an additional 1,100,000 shares during the period. Balyasny Asset Management L.P. boosted its stake in shares of CNX Resources by 601.8% during the 3rd quarter. Balyasny Asset Management L.P. now owns 1,105,456 shares of the oil and gas producer's stock worth $35,507,000 after acquiring an additional 947,931 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of CNX Resources by 45.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,021,403 shares of the oil and gas producer's stock worth $74,327,000 after acquiring an additional 633,539 shares during the last quarter. Mackenzie Financial Corp raised its stake in CNX Resources by 5,262.2% in the 2nd quarter. Mackenzie Financial Corp now owns 555,473 shares of the oil and gas producer's stock valued at $18,708,000 after acquiring an additional 545,114 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in CNX Resources by 112.2% during the 2nd quarter. AQR Capital Management LLC now owns 1,007,486 shares of the oil and gas producer's stock valued at $33,932,000 after purchasing an additional 532,770 shares during the last quarter. 95.16% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on CNX. Weiss Ratings raised shares of CNX Resources from a "hold (c)" rating to a "buy (b)" rating in a research note on Wednesday, February 11th. Zacks Research downgraded CNX Resources from a "hold" rating to a "strong sell" rating in a report on Monday, January 19th. Mizuho boosted their target price on CNX Resources from $35.00 to $43.00 and gave the company a "neutral" rating in a research note on Friday, December 12th. JPMorgan Chase & Co. raised shares of CNX Resources from an "underweight" rating to a "neutral" rating and raised their price target for the stock from $36.00 to $38.00 in a research note on Monday, December 8th. Finally, Morgan Stanley boosted their price objective on shares of CNX Resources from $31.00 to $32.00 and gave the stock an "underweight" rating in a research report on Friday, January 23rd. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus price target of $36.00.
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CNX Resources Company Profile
(
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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.
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