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 company’s stock in a transaction on Monday, March 23rd. The stock was 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 in the company, valued at approximately $6,701,683.04. The trade was a 12.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link.

CNX Resources Stock Down 0.2%

Shares of CNX traded down $0.10 during midday trading on Wednesday, hitting $40.36. 1,470,479 shares of the company’s stock traded hands, compared to its average volume of 2,395,579. The company has a current ratio of 0.44, a quick ratio of 0.41 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $5.75 billion, a price-to-earnings ratio of 10.97, a price-to-earnings-growth ratio of 0.42 and a beta of 0.66. CNX Resources Corporation. has a 1 year low of $27.68 and a 1 year high of $43.62. The firm’s fifty day moving average is $39.40 and its 200-day moving average is $36.49.

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CNX shares. Zacks Research upgraded shares of CNX Resources from a “strong sell” rating to a “hold” rating in a report on Friday, February 27th. Truist Financial started coverage on shares of CNX Resources in a research note on Tuesday. They issued a “sell” rating and a $35.00 target price for the company. Scotiabank restated a “sector perform” rating and set a $44.00 price target on shares of CNX Resources in a research note on Wednesday, January 21st. Piper Sandler set a $26.00 price target on shares of CNX Resources in a research note on Monday, February 2nd. Finally, Roth Mkm set a $35.00 price target on shares of CNX Resources and gave the stock a “neutral” rating in a report on Thursday, January 29th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, CNX Resources currently has an average rating of “Reduce” and a consensus price target of $34.80.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in CNX Resources by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 86,878 shares of the oil and gas producer’s stock valued at $2,735,000 after buying an additional 3,785 shares during the last quarter. Acadian Asset Management LLC purchased a new position in CNX Resources during the 1st quarter worth approximately $583,000. Creative Planning raised its position in CNX Resources by 13.7% during the 2nd quarter. Creative Planning now owns 55,609 shares of the oil and gas producer’s stock worth $1,873,000 after buying an additional 6,680 shares during the last quarter. Legal & General Group Plc raised its position in CNX Resources by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 240,605 shares of the oil and gas producer’s stock worth $8,104,000 after buying an additional 2,257 shares during the last quarter. Finally, Prudential Financial Inc. lifted its stake in CNX Resources by 47.9% during the 2nd quarter. Prudential Financial Inc. now owns 22,401 shares of the oil and gas producer’s stock valued at $816,000 after acquiring an additional 7,258 shares during the period. 95.16% of the stock is currently 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.