CNX Resources (NYSE:CNX) Share Price Passes Above 200 Day Moving Average - Time to Sell?

Key Points

• CNX's share price crossed above its 200‑day moving average
• The company reported a strong quarter, beating estimates with EPS $1.28 vs. $0.34 expected and revenue $610.48M (up 347% year‑over‑year) with a 28.28% net margin.
• Analyst sentiment is mixed: MarketBeat shows an average rating of "Reduce" with an average target of $35.67 (below the current price), while insiders have recently sold shares and institutional ownership stands around 95%.

CNX Resources Corporation. (NYSE:CNX - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $37.38 and traded as high as $39.68. CNX Resources shares last traded at $39.2810, with a volume of 1,971,816 shares trading hands.

Wall Street Analyst Weigh In

CNX has been the topic of a number of research analyst reports. Roth Mkm set a $35.00 price target on shares of CNX Resources and gave the stock a "neutral" rating in a report on Thursday, January 29th. Barclays lifted their price objective on shares of CNX Resources from $35.00 to $36.00 and gave the stock an "underweight" rating in a research report on Monday, March 16th. Scotiabank reiterated a "sector perform" rating and issued a $44.00 target price on shares of CNX Resources in a research note on Wednesday, January 21st. Weiss Ratings raised shares of CNX Resources from a "hold (c)" rating to a "buy (b)" rating in a research report on Wednesday, February 11th. Finally, Zacks Research upgraded shares of CNX Resources from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 30th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, six have assigned a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat.com, CNX Resources presently has an average rating of "Reduce" and an average target price of $35.67.

CNX Resources Trading Up 0.0%

The firm has a fifty day moving average of $40.09 and a two-hundred day moving average of $37.38. The company has a market cap of $5.59 billion, a PE ratio of 10.67, a price-to-earnings-growth ratio of 0.31 and a beta of 0.65. The company has a current ratio of 0.44, a quick ratio of 0.41 and a debt-to-equity ratio of 0.52.

CNX Resources (NYSE:CNX - Get Free Report) last released its quarterly earnings data on Thursday, January 29th. The oil and gas producer reported $1.28 EPS for the quarter, beating the consensus estimate of $0.34 by $0.94. The business had revenue of $610.48 million for the quarter, compared to the consensus estimate of $422.65 million. CNX Resources had a net margin of 28.28% and a return on equity of 9.29%. The company's revenue was up 347.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.97) earnings per share. As a group, sell-side analysts predict that CNX Resources Corporation. will post 2.18 EPS for the current year.

Insider Buying and Selling

In other CNX Resources news, Director Maureen Lally-Green sold 23,631 shares of the business's stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $39.52, for a total transaction of $933,897.12. Following the sale, the director owned 169,577 shares of the company's stock, valued at $6,701,683.04. The trade was a 12.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Bernard Lanigan, Jr. sold 46,119 shares of the business's stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $40.60, for a total transaction of $1,872,431.40. Following the sale, the director directly owned 177,180 shares in the company, valued at $7,193,508. The trade was a 20.65% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 5.03% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CNX. Smartleaf Asset Management LLC boosted its position in shares of CNX Resources by 56.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 810 shares of the oil and gas producer's stock valued at $30,000 after acquiring an additional 293 shares during the period. State of Wyoming bought a new position in CNX Resources in the 2nd quarter valued at $29,000. Los Angeles Capital Management LLC purchased a new position in shares of CNX Resources during the 4th quarter valued at $34,000. Caitlin John LLC purchased a new position in shares of CNX Resources during the 3rd quarter valued at $31,000. Finally, Kestra Advisory Services LLC bought a new position in shares of CNX Resources in the fourth quarter worth $50,000. Hedge funds and other institutional investors own 95.16% of the company's stock.

CNX Resources Company Profile

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.

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