CNX Resources (NYSE:CNX) Director Bernard Lanigan, Jr. Sells 46,119 Shares

CNX Resources Corporation. (NYSE:CNX) Director Bernard Lanigan, Jr. sold 46,119 shares of the firm’s stock in a transaction dated 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 transaction, the director directly owned 177,180 shares of the company’s stock, valued at $7,193,508. The trade was a 20.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

CNX Resources Stock Performance

NYSE CNX opened at $38.24 on Tuesday. The stock has a market cap of $5.44 billion, a P/E ratio of 10.39, a PEG ratio of 0.42 and a beta of 0.66. 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 $42.13. The company’s 50-day simple moving average is $37.64 and its 200 day simple moving average is $34.72.

CNX Resources (NYSE:CNX) last released its quarterly earnings data on Thursday, January 29th. The oil and gas producer reported $1.28 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.94. The company 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% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.97) EPS. As a group, research analysts forecast that CNX Resources Corporation. will post 2.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Piper Sandler set a $26.00 target price on shares of CNX Resources in a report on Monday, February 2nd. Roth Mkm set a $35.00 price objective on shares of CNX Resources and gave the stock a “neutral” rating in a research note on Thursday, January 29th. Barclays lifted their target price on shares of CNX Resources from $34.00 to $35.00 and gave the company an “underweight” rating in a research note on Friday, January 30th. Morgan Stanley boosted their target price on CNX Resources from $31.00 to $32.00 and gave the stock an “underweight” rating in a report on Friday, January 23rd. Finally, JPMorgan Chase & Co. raised CNX Resources from an “underweight” rating to a “neutral” rating and raised their price target for the company from $36.00 to $38.00 in a report on Monday, December 8th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $36.00.

Hedge Funds Weigh In On CNX Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Research Global Investors raised its position in shares of CNX Resources by 38.6% during the 3rd quarter. Capital Research Global Investors now owns 3,950,000 shares of the oil and gas producer’s stock valued at $126,874,000 after acquiring an additional 1,100,000 shares during the last quarter. Balyasny Asset Management L.P. increased its holdings in CNX Resources by 601.8% in the third quarter. Balyasny Asset Management L.P. now owns 1,105,456 shares of the oil and gas producer’s stock valued at $35,507,000 after purchasing an additional 947,931 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in CNX Resources by 45.6% in 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 purchasing an additional 633,539 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in CNX Resources by 5,262.2% during the second quarter. Mackenzie Financial Corp now owns 555,473 shares of the oil and gas producer’s stock worth $18,708,000 after buying an additional 545,114 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in shares of 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 worth $33,932,000 after buying an additional 532,770 shares during the period. 95.16% of the stock is owned by 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.