Maureen Lally-Green Sells 23,631 Shares of CNX Resources (NYSE:CNX) Stock

CNX Resources Corporation. (NYSE:CNX) Director Maureen Lally-Green sold 23,631 shares of CNX Resources 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 of the company’s stock, valued at $6,701,683.04. The trade was a 12.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

CNX Resources Stock Performance

NYSE:CNX opened at $40.08 on Friday. The company has a quick ratio of 0.41, a current ratio of 0.44 and a debt-to-equity ratio of 0.52. CNX Resources Corporation. has a twelve month low of $27.68 and a twelve month high of $43.62. The stock has a market cap of $5.71 billion, a P/E ratio of 10.89, a PEG ratio of 0.42 and a beta of 0.66. The business’s 50-day moving average price is $39.57 and its two-hundred day moving average price is $36.54.

CNX Resources (NYSE:CNX) last announced its quarterly earnings data on Thursday, January 29th. The oil and gas producer reported $1.28 EPS for the quarter, beating the consensus estimate of $0.34 by $0.94. The firm had revenue of $610.48 million for the quarter, compared to analyst estimates of $422.65 million. CNX Resources had a return on equity of 9.29% and a net margin of 28.28%.The company’s revenue was up 347.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.97) EPS. As a group, equities analysts predict that CNX Resources Corporation. will post 2.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CNX has been the topic of several recent research reports. Zacks Research raised shares of CNX Resources from a “strong sell” rating to a “hold” rating in a report on Friday, February 27th. Barclays boosted their price target on shares of CNX Resources from $35.00 to $36.00 and gave the stock an “underweight” rating in a research note on Monday, March 16th. Weiss Ratings raised CNX Resources from a “hold (c)” rating to a “buy (b)” rating in a research note on Wednesday, February 11th. Mizuho lifted their price objective on CNX Resources from $35.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. Finally, Scotiabank reissued a “sector perform” rating and issued a $44.00 target price on shares of CNX Resources in a research note on Wednesday, January 21st. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, CNX Resources currently has a consensus rating of “Reduce” and a consensus target price of $34.80.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CNX. Dimensional Fund Advisors LP raised its holdings in CNX Resources by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,745,218 shares of the oil and gas producer’s stock valued at $321,570,000 after buying an additional 118,817 shares during the last quarter. Capital Research Global Investors grew its holdings in CNX Resources by 20.6% in the 4th quarter. Capital Research Global Investors now owns 4,765,039 shares of the oil and gas producer’s stock worth $175,210,000 after acquiring an additional 815,039 shares during the last quarter. American Century Companies Inc. increased its position in shares of CNX Resources by 16.3% in the third quarter. American Century Companies Inc. now owns 3,236,441 shares of the oil and gas producer’s stock valued at $103,954,000 after acquiring an additional 454,071 shares during the period. Southeast Asset Advisors LLC raised its stake in shares of CNX Resources by 0.3% during the second quarter. Southeast Asset Advisors LLC now owns 2,414,955 shares of the oil and gas producer’s stock valued at $81,336,000 after acquiring an additional 6,930 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of CNX Resources by 45.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,021,403 shares of the oil and gas producer’s stock valued at $74,327,000 after acquiring an additional 633,539 shares during the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

CNX Resources Company Profile

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.