CNX Resources Sees Unusually High Options Volume (NYSE:CNX)

CNX Resources Co. (NYSE:CNX) was the target of unusually large options trading on Tuesday. Traders purchased 82,682 put options on the company. This represents an increase of 3,405% compared to the average daily volume of 2,359 put options.

Insider Buying and Selling

In other news, Director Bernard Lanigan, Jr. bought 75,000 shares of the business’s stock in a transaction on Monday, September 9th. The shares were purchased at an average price of $26.81 per share, for a total transaction of $2,010,750.00. Following the purchase, the director now owns 401,820 shares of the company’s stock, valued at approximately $10,772,794.20. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.10% of the stock is owned by corporate insiders.

Institutional Trading of CNX Resources

A number of institutional investors have recently bought and sold shares of CNX. QRG Capital Management Inc. raised its position in shares of CNX Resources by 8.3% in the first quarter. QRG Capital Management Inc. now owns 167,429 shares of the oil and gas producer’s stock valued at $3,971,000 after buying an additional 12,768 shares in the last quarter. US Bancorp DE raised its holdings in CNX Resources by 3.9% in the 1st quarter. US Bancorp DE now owns 26,860 shares of the oil and gas producer’s stock valued at $637,000 after acquiring an additional 999 shares in the last quarter. Avantax Advisory Services Inc. bought a new stake in shares of CNX Resources during the 1st quarter valued at $278,000. ProShare Advisors LLC grew its holdings in shares of CNX Resources by 3.7% during the 1st quarter. ProShare Advisors LLC now owns 35,570 shares of the oil and gas producer’s stock worth $844,000 after purchasing an additional 1,268 shares in the last quarter. Finally, Entropy Technologies LP bought a new position in shares of CNX Resources in the first quarter worth $1,046,000. Institutional investors own 95.16% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on CNX shares. Tudor, Pickering, Holt & Co. cut shares of CNX Resources from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. reduced their price objective on shares of CNX Resources from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Piper Sandler downgraded CNX Resources from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $22.00 to $20.00 in a research report on Thursday, August 15th. Mizuho increased their price target on CNX Resources from $32.00 to $33.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Finally, Capital One Financial lowered CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 price target on the stock. in a research report on Monday, October 14th. Six investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $29.00.

CNX Resources Trading Down 3.5 %

CNX stock opened at $38.47 on Wednesday. CNX Resources has a one year low of $19.07 and a one year high of $40.08. The stock has a market cap of $5.74 billion, a price-to-earnings ratio of 12.10, a price-to-earnings-growth ratio of 1.85 and a beta of 1.37. The company has a fifty day moving average price of $33.02 and a two-hundred day moving average price of $28.02. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.37 and a quick ratio of 0.36.

CNX Resources (NYSE:CNX) last released its quarterly earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.09. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. The business had revenue of $424.21 million during the quarter, compared to analysts’ expectations of $398.33 million. During the same period last year, the firm posted $0.35 EPS. Equities analysts anticipate that CNX Resources will post 1.53 EPS for the current year.

About CNX Resources

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.