CNX Resources Co. (NYSE:CNX) Short Interest Update

CNX Resources Co. (NYSE:CNX) was the target of a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 27,700,000 shares, a decrease of 6.8% from the March 15th total of 29,720,000 shares. Based on an average daily trading volume, of 3,070,000 shares, the days-to-cover ratio is presently 9.0 days. Approximately 18.9% of the company’s stock are short sold.

Insider Activity at CNX Resources

In related news, EVP Timothy Scott Bedard sold 1,226 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $20.83, for a total value of $25,537.58. Following the completion of the sale, the executive vice president now directly owns 67,982 shares of the company’s stock, valued at approximately $1,416,065.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 4.65% of the stock is currently owned by insiders.

Institutional Trading of CNX Resources

Institutional investors and hedge funds have recently modified their holdings of the business. Neo Ivy Capital Management purchased a new stake in shares of CNX Resources in the 3rd quarter valued at about $26,000. BluePath Capital Management LLC purchased a new position in shares of CNX Resources during the 3rd quarter valued at about $32,000. Castleview Partners LLC purchased a new position in shares of CNX Resources during the 3rd quarter valued at about $41,000. KBC Group NV purchased a new position in shares of CNX Resources during the 4th quarter valued at about $44,000. Finally, Adirondack Trust Co. purchased a new position in shares of CNX Resources during the 3rd quarter valued at about $54,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

CNX Resources Stock Down 2.1 %

Shares of NYSE CNX opened at $23.78 on Tuesday. CNX Resources has a 52 week low of $14.36 and a 52 week high of $24.82. The business has a 50-day simple moving average of $21.85 and a two-hundred day simple moving average of $21.29. The company has a quick ratio of 0.49, a current ratio of 0.51 and a debt-to-equity ratio of 0.43. The company has a market cap of $3.64 billion, a P/E ratio of 2.62 and a beta of 1.33.

CNX Resources (NYSE:CNX) last issued its earnings results on Thursday, January 25th. The oil and gas producer reported $2.89 EPS for the quarter, topping the consensus estimate of $0.30 by $2.59. CNX Resources had a return on equity of 9.00% and a net margin of 50.34%. The business had revenue of $999.50 million during the quarter, compared to the consensus estimate of $401.62 million. During the same quarter last year, the company earned $1.64 EPS. The firm’s revenue was down 38.9% compared to the same quarter last year. Research analysts anticipate that CNX Resources will post 1.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Mizuho increased their price target on CNX Resources from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Roth Mkm upped their price objective on CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Truist Financial upped their price objective on CNX Resources from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Bank of America upgraded CNX Resources from an “underperform” rating to a “neutral” rating and set a $23.00 price objective for the company in a research note on Friday, January 5th. Finally, Scotiabank increased their price target on CNX Resources from $20.00 to $25.00 and gave the stock a “sector underperform” rating in a research note on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $23.86.

CNX Resources Company Profile

CNX Resources Corporation, an independent natural gas and midstream company, engages in the acquisition, exploration, development, and production of natural gas properties in the Appalachian Basin. The company operates in two segments, Shale and Coalbed Methane (CBM). It produces and sells pipeline quality natural gas primarily for gas wholesalers.