Maureen Lally-Green Acquires 1,500 Shares of CNX Resources Corp (CNX) Stock

CNX Resources Corp (NYSE:CNX) Director Maureen Lally-Green acquired 1,500 shares of the stock in a transaction on Tuesday, February 13th. The stock was bought at an average price of $12.99 per share, with a total value of $19,485.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of CNX Resources Corp (CNX) traded up $0.10 during mid-day trading on Thursday, reaching $14.66. The company had a trading volume of 282,958 shares, compared to its average volume of 3,715,297. The stock has a market capitalization of $2,984.94, a PE ratio of 8.75 and a beta of 1.49. CNX Resources Corp has a 12 month low of $11.29 and a 12 month high of $15.51. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.91 and a current ratio of 1.93.

CNX Resources (NYSE:CNX) last issued its quarterly earnings results on Tuesday, January 30th. The oil and gas producer reported $0.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.06. The company had revenue of $333.30 million for the quarter, compared to analysts’ expectations of $331.76 million. CNX Resources had a return on equity of 1.36% and a net margin of 14.03%. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.33) earnings per share. equities research analysts predict that CNX Resources Corp will post 0.3 earnings per share for the current year.

CNX Resources announced that its board has approved a stock buyback program on Tuesday, October 31st that authorizes the company to repurchase $369.00 million in outstanding shares. This repurchase authorization authorizes the oil and gas producer to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Several brokerages have weighed in on CNX. Seaport Global Securities began coverage on CNX Resources in a research report on Thursday, November 30th. They issued a “buy” rating and a $32.00 price objective for the company. Robert W. Baird boosted their price objective on CNX Resources from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Scotiabank set a $21.00 target price on CNX Resources and gave the company a “hold” rating in a research note on Monday, November 13th. Zacks Investment Research cut CNX Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, November 8th. Finally, ValuEngine raised CNX Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. Three research analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. CNX Resources currently has a consensus rating of “Hold” and a consensus target price of $23.00.

A number of institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC boosted its holdings in CNX Resources by 39.1% in the fourth quarter. Jane Street Group LLC now owns 16,923 shares of the oil and gas producer’s stock worth $248,000 after acquiring an additional 4,753 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in CNX Resources by 27.8% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 41,835 shares of the oil and gas producer’s stock worth $612,000 after acquiring an additional 9,100 shares in the last quarter. Two Sigma Investments LP boosted its holdings in CNX Resources by 65.2% in the fourth quarter. Two Sigma Investments LP now owns 1,045,825 shares of the oil and gas producer’s stock worth $15,300,000 after acquiring an additional 412,942 shares in the last quarter. Guggenheim Capital LLC boosted its holdings in CNX Resources by 156.9% in the fourth quarter. Guggenheim Capital LLC now owns 152,667 shares of the oil and gas producer’s stock worth $2,234,000 after acquiring an additional 93,240 shares in the last quarter. Finally, BlueCrest Capital Management Ltd boosted its holdings in CNX Resources by 60.7% in the fourth quarter. BlueCrest Capital Management Ltd now owns 124,557 shares of the oil and gas producer’s stock worth $1,822,000 after acquiring an additional 47,052 shares in the last quarter. 96.83% of the stock is currently owned by institutional investors and hedge funds.

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About CNX Resources

CNX Resources Corp., formerly CONSOL Energy Inc, is an integrated energy company. The Company’s divisions include Exploration and Production (E&P), Pennsylvania (PA) Mining Operations and Other. The E&P division operates through four segments: Marcellus Shale, Utica Shale, Coalbed Methane (CBM) and Other Gas, which produce pipeline quality natural gas for sale primarily to gas wholesalers.

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