Key Points
- Director Maureen Lally-Green sold 23,631 shares on March 23 at an average price of $39.52 for proceeds of $933,897, reducing her stake by 12.23% to 169,577 shares (SEC filing).
- CNX posted a strong quarter (EPS $1.28 vs $0.34 estimate; revenue $610.5M, +347% YoY) and trades near $40 with a $5.75B market cap, but analysts are mixed—one Buy, seven Hold, five Sell—with a consensus target of $34.80.
CNX Resources Corporation. (NYSE:CNX - Get Free Report) Director Maureen Lally-Green sold 23,631 shares of the company's stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $39.52, for a total transaction of $933,897.12. Following the completion of the transaction, the director owned 169,577 shares in the company, valued at approximately $6,701,683.04. This trade represents a 12.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
CNX Resources Stock Performance
Shares of NYSE CNX opened at $40.36 on Thursday. The company has a 50-day simple moving average of $39.49 and a 200-day simple moving average of $36.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.44 and a quick ratio of 0.41. The company has a market cap of $5.75 billion, a PE ratio of 10.97, 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 $43.62.
CNX Resources (NYSE:CNX - Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The oil and gas producer reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.94. CNX Resources had a net margin of 28.28% and a return on equity of 9.29%. The business had revenue of $610.48 million for the quarter, compared to the consensus estimate of $422.65 million. During the same quarter in the prior year, the firm posted ($0.97) earnings per share. The company's quarterly revenue was up 347.0% compared to the same quarter last year. On average, equities analysts anticipate that CNX Resources Corporation. will post 2.18 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on CNX. Scotiabank reissued a "sector perform" rating and set a $44.00 price target on shares of CNX Resources in a research note on Wednesday, January 21st. JPMorgan Chase & Co. upgraded CNX Resources from an "underweight" rating to a "neutral" rating and upped their target price for the company from $36.00 to $38.00 in a research note on Monday, December 8th. Weiss Ratings upgraded CNX Resources from a "hold (c)" rating to a "buy (b)" rating in a research report on Wednesday, February 11th. Roth Mkm set a $35.00 price target on CNX Resources and gave the stock a "neutral" rating in a research note on Thursday, January 29th. Finally, Mizuho raised their price target on CNX Resources from $35.00 to $43.00 and gave the stock a "neutral" rating in a research note on Friday, December 12th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Reduce" and a consensus target price of $34.80.
Read Our Latest Report on CNX Resources
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the business. State of Wyoming acquired a new position in CNX Resources during the second quarter valued at approximately $29,000. Smartleaf Asset Management LLC grew its stake in CNX Resources by 56.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 810 shares of the oil and gas producer's stock worth $30,000 after buying an additional 293 shares during the period. Caitlin John LLC acquired a new stake in shares of CNX Resources in the third quarter worth $31,000. Los Angeles Capital Management LLC purchased a new position in shares of CNX Resources in the 4th quarter valued at $34,000. Finally, Elevation Point Wealth Partners LLC purchased a new position in shares of CNX Resources in the 2nd quarter valued at $46,000. Hedge funds and other institutional investors own 95.16% of the company's stock.
CNX Resources Company Profile
(
Get Free Report)
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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