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

CNX Resources Corporation. (NYSE:CNX) Director Maureen Lally-Green sold 23,631 shares of the firm’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $39.52, for a total value of $933,897.12. Following the completion of the sale, the director directly owned 169,577 shares of the company’s stock, valued at $6,701,683.04. This represents a 12.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

CNX Resources Trading Down 0.2%

Shares of CNX stock opened at $40.36 on Thursday. The business’s fifty day moving average price is $39.49 and its 200 day moving average price is $36.52. CNX Resources Corporation. has a 1-year low of $27.68 and a 1-year high of $43.62. The firm has a market capitalization of $5.75 billion, a PE ratio of 10.97, a P/E/G ratio of 0.42 and a beta of 0.66. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.44 and a quick ratio of 0.41.

CNX Resources (NYSE:CNX) last released its earnings results on Thursday, January 29th. The oil and gas producer reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.94. The company had revenue of $610.48 million during the quarter, compared to the consensus estimate of $422.65 million. CNX Resources had a return on equity of 9.29% and a net margin of 28.28%.CNX Resources’s quarterly revenue was up 347.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.97) earnings per share. As a group, sell-side analysts forecast that CNX Resources Corporation. will post 2.18 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on CNX. Piper Sandler set a $26.00 price objective on shares of CNX Resources in a research note on Monday, February 2nd. Mizuho upped their target price on shares of CNX Resources from $35.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Truist Financial initiated coverage on shares of CNX Resources in a report on Tuesday. They issued a “sell” rating and a $35.00 target price for the company. JPMorgan Chase & Co. raised CNX Resources from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $36.00 to $38.00 in a research note on Monday, December 8th. Finally, Scotiabank restated a “sector perform” rating and issued a $44.00 price target on shares of CNX Resources in a report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $34.80.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CNX. Dimensional Fund Advisors LP grew 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 raised its holdings in shares of CNX Resources by 20.6% in the fourth 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. raised its holdings 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 worth $103,954,000 after acquiring an additional 454,071 shares during the last quarter. Southeast Asset Advisors LLC lifted its position in shares of CNX Resources by 0.3% in 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 in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of 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 acquiring an additional 633,539 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

About CNX Resources

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.