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

CNX Resources Co. (NYSE:CNX) saw unusually large options trading activity on Tuesday. Investors bought 20,923 put options on the stock. This is an increase of approximately 2,199% compared to the typical volume of 910 put options.

Wall Street Analyst Weigh In

CNX has been the topic of a number of recent research reports. Mizuho increased their target price on CNX Resources from $32.00 to $33.00 and gave the stock a “neutral” rating in a report on Monday. Tudor Pickering upgraded CNX Resources to a “strong sell” rating in a report on Tuesday, October 1st. BMO Capital Markets increased their target price on CNX Resources from $26.00 to $29.00 and gave the stock a “market perform” rating in a report on Friday, October 4th. Scotiabank increased their target price on CNX Resources from $25.00 to $27.00 and gave the stock a “sector underperform” rating in a report on Tuesday, August 20th. Finally, StockNews.com cut CNX Resources from a “hold” rating to a “sell” rating in a report on Saturday, August 3rd. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $27.10.

Insider Transactions at CNX Resources

In related news, Director Bernard Lanigan, Jr. acquired 75,000 shares of CNX Resources stock in a transaction dated Monday, September 9th. The stock was bought at an average price of $26.81 per share, with a total value of $2,010,750.00. Following the transaction, the director now directly owns 401,820 shares in the company, valued at $10,772,794.20. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On CNX Resources

A number of hedge funds have recently made changes to their positions in CNX. GAMMA Investing LLC raised its stake in shares of CNX Resources by 54.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock worth $46,000 after purchasing an additional 666 shares during the period. Hexagon Capital Partners LLC raised its stake in shares of CNX Resources by 113.4% during the 1st quarter. Hexagon Capital Partners LLC now owns 2,138 shares of the oil and gas producer’s stock worth $51,000 after purchasing an additional 1,136 shares during the period. CWM LLC raised its stake in shares of CNX Resources by 77.0% during the 3rd quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock worth $70,000 after purchasing an additional 935 shares during the period. Natixis bought a new stake in shares of CNX Resources during the 1st quarter worth $79,000. Finally, Innealta Capital LLC purchased a new stake in CNX Resources in the 2nd quarter worth about $131,000. 95.16% of the stock is currently owned by institutional investors.

CNX Resources Price Performance

Shares of NYSE:CNX opened at $35.36 on Thursday. The company has a current ratio of 0.41, a quick ratio of 0.40 and a debt-to-equity ratio of 0.46. The stock’s fifty day simple moving average is $29.55 and its two-hundred day simple moving average is $26.40. CNX Resources has a 1-year low of $19.07 and a 1-year high of $36.96. The stock has a market cap of $5.42 billion, a PE ratio of 6.40 and a beta of 1.38.

CNX Resources (NYSE:CNX) last released its earnings results on Thursday, July 25th. The oil and gas producer reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.09. The company had revenue of $321.44 million for the quarter, compared to analysts’ expectations of $387.46 million. CNX Resources had a return on equity of 7.51% and a net margin of 26.64%. During the same period in the previous year, the business posted $0.29 EPS. As a group, analysts forecast that CNX Resources will post 1.43 EPS for the current fiscal year.

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.