Insider Selling: CNX Resources (NYSE:CNX) Director Sells 23,631 Shares of Stock

CNX Resources Corporation. (NYSE:CNX) Director Maureen Lally-Green sold 23,631 shares of the firm’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $39.52, for a total transaction of $933,897.12. Following the transaction, the director directly owned 169,577 shares of the company’s stock, valued at approximately $6,701,683.04. This trade represents a 12.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

CNX Resources Stock Performance

NYSE CNX traded down $0.10 on Wednesday, reaching $40.36. 1,470,479 shares of the company’s stock traded hands, compared to its average volume of 2,395,579. CNX Resources Corporation. has a fifty-two week low of $27.68 and a fifty-two week high of $43.62. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.41 and a current ratio of 0.44. The firm has a market cap of $5.75 billion, a price-to-earnings ratio of 10.97, a P/E/G ratio of 0.42 and a beta of 0.66. The stock has a 50 day moving average price of $39.40 and a 200-day moving average price of $36.49.

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 analysts’ consensus estimates of $0.34 by $0.94. The business had revenue of $610.48 million during 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 quarter last year, the business posted ($0.97) EPS. Equities research analysts predict that CNX Resources Corporation. will post 2.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CNX has been the subject of several recent research reports. Barclays lifted their price target on CNX Resources from $35.00 to $36.00 and gave the company an “underweight” rating in a research report on Monday, March 16th. Weiss Ratings raised shares of CNX Resources from a “hold (c)” rating to a “buy (b)” rating in a research note on Wednesday, February 11th. JPMorgan Chase & Co. raised shares of CNX Resources from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $36.00 to $38.00 in a report on Monday, December 8th. Zacks Research upgraded shares of CNX Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, February 27th. Finally, Piper Sandler set a $26.00 price target on shares of CNX Resources in a report on Monday, February 2nd. 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $34.80.

Hedge Funds Weigh In On CNX Resources

A number of hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its position in shares of CNX Resources by 1.4% in the fourth 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 in the last quarter. Capital Research Global Investors raised its stake in shares of CNX Resources by 20.6% during 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 buying an additional 815,039 shares during the period. American Century Companies Inc. lifted its position in shares of CNX Resources by 16.3% during the 3rd 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 buying an additional 454,071 shares in the last quarter. Southeast Asset Advisors LLC grew its stake in CNX Resources by 0.3% in the 2nd 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 period. Finally, Goldman Sachs Group Inc. grew its stake in CNX Resources by 45.6% in the 4th 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 period. Hedge funds and other institutional investors own 95.16% of the company’s stock.

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.