CNX Resources Target of Unusually Large Options Trading (NYSE:CNX)

CNX Resources Co. (NYSE:CNX) was the recipient of unusually large options trading on Friday. Stock traders purchased 42,790 put options on the company. This represents an increase of approximately 929% compared to the typical volume of 4,160 put options.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings in shares of CNX Resources by 135.4% during the 3rd quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer’s stock worth $64,000 after buying an additional 1,131 shares in the last quarter. CWM LLC raised its stake in CNX Resources by 77.0% during the third quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock worth $70,000 after acquiring an additional 935 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of CNX Resources by 62.1% in the third quarter. GAMMA Investing LLC now owns 3,073 shares of the oil and gas producer’s stock worth $100,000 after acquiring an additional 1,177 shares during the last quarter. Atomi Financial Group Inc. acquired a new stake in shares of CNX Resources in the 3rd quarter valued at approximately $202,000. Finally, Legacy Capital Wealth Partners LLC bought a new stake in shares of CNX Resources during the 2nd quarter valued at approximately $205,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

CNX Resources Stock Performance

Shares of NYSE CNX opened at $33.12 on Friday. The stock’s fifty day moving average price is $37.55 and its two-hundred day moving average price is $31.49. The firm has a market cap of $4.94 billion, a price-to-earnings ratio of 10.42, a P/E/G ratio of 1.85 and a beta of 1.42. CNX Resources has a one year low of $19.07 and a one year high of $41.93. 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 posted its quarterly earnings data on Thursday, October 24th. The oil and gas producer reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.09. The firm had revenue of $424.21 million for the quarter, compared to analyst estimates of $398.33 million. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. During the same quarter last year, the company earned $0.35 EPS. On average, equities analysts forecast that CNX Resources will post 1.54 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CNX shares. Tudor, Pickering, Holt & Co. cut CNX Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Bank of America initiated coverage on CNX Resources in a research report on Monday, October 28th. They set an “underperform” rating and a $34.00 price target for the company. JPMorgan Chase & Co. downgraded shares of CNX Resources from a “neutral” rating to an “underweight” rating and lifted their price objective for the company from $31.00 to $37.00 in a report on Thursday, December 5th. Capital One Financial cut shares of CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 target price for the company. in a report on Monday, October 14th. Finally, Piper Sandler lifted their price target on shares of CNX Resources from $20.00 to $23.00 and gave the company an “underweight” rating in a research note on Friday, December 6th. Eight research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $30.50.

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.