Stock Traders Purchase Large Volume of Put Options on CNX Resources (NYSE:CNX)

CNX Resources Co. (NYSE:CNX) saw some unusual options trading activity on Tuesday. Stock investors bought 82,682 put options on the stock. This is an increase of approximately 3,405% compared to the typical volume of 2,359 put options.

Wall Street Analyst Weigh In

CNX has been the topic of several research analyst reports. Scotiabank upped their price objective on shares of CNX Resources from $25.00 to $27.00 and gave the stock a “sector underperform” rating in a research report on Tuesday, August 20th. Mizuho raised their price objective on shares of CNX Resources from $32.00 to $33.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Truist Financial downgraded shares of CNX Resources from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $38.00 to $34.00 in a report on Monday, October 28th. Tudor, Pickering, Holt & Co. cut CNX Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. Finally, StockNews.com lowered CNX Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd. Six investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $29.00.

CNX Resources Trading Up 0.8 %

Shares of NYSE CNX traded up $0.30 during midday trading on Thursday, reaching $38.95. The company had a trading volume of 156,009 shares, compared to its average volume of 2,707,049. The stock has a market cap of $5.81 billion, a PE ratio of 12.15, a price-to-earnings-growth ratio of 1.86 and a beta of 1.37. CNX Resources has a one year low of $19.07 and a one year high of $40.08. The firm’s fifty day moving average price is $33.25 and its 200-day moving average price is $28.10. The company has a quick ratio of 0.36, a current ratio of 0.37 and a debt-to-equity ratio of 0.46.

CNX Resources (NYSE:CNX) last announced its quarterly earnings data on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share for the quarter, beating 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 firm had revenue of $424.21 million during the quarter, compared to the consensus estimate of $398.33 million. During the same quarter in the previous year, the company posted $0.35 earnings per share. On average, equities research analysts anticipate that CNX Resources will post 1.53 earnings per share for the current year.

Insider Activity at CNX Resources

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

Institutional Investors Weigh In On CNX Resources

Institutional investors have recently added to or reduced their stakes in the company. QRG Capital Management Inc. lifted its holdings in CNX Resources by 8.3% in the 1st quarter. QRG Capital Management Inc. now owns 167,429 shares of the oil and gas producer’s stock worth $3,971,000 after buying an additional 12,768 shares during the period. US Bancorp DE lifted its stake in CNX Resources by 3.9% in the first quarter. US Bancorp DE now owns 26,860 shares of the oil and gas producer’s stock worth $637,000 after acquiring an additional 999 shares during the period. Avantax Advisory Services Inc. bought a new stake in CNX Resources in the first quarter valued at $278,000. ProShare Advisors LLC increased its position in 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 valued at $844,000 after purchasing an additional 1,268 shares during the period. Finally, Entropy Technologies LP bought a new position in CNX Resources in the 1st quarter worth $1,046,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

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.