As an independent natural gas and midstream company, CNX Resources Corp (CNX, Financial) is engaged in the exploration, development, production, and acquisition of natural gas properties in the Appalachian Basin. Its operating segments include Shale and Coalbed Methane, with the former generating the maximum revenue. The company also has a nominal shallow oil and gas production segment.
As of the latest available data, CNX Resources Corp (CNX, Financial) has an outstanding share count of 161.46 million. Institutional ownership stands at 121.98 million shares, constituting 75.55% of the total shares. Meanwhile, insiders hold 6.85 million shares, accounting for 4.24% of the total share count.
Recent Performance and Market Cap Volatility
CNX Resources Corp experienced a decline of about 2.66% in its stock value over the past week. As of Sep 27, 2023, the stock rose by 2.3%, contrasting with its three-month return of 29.74. A closer look reveals fluctuations in its market cap, which rose to $2.87 billion in the most recent quarter from $2.66 billion in the preceding one. This volatility has sparked keen interest in the company's ownership trends.
Institutional Ownership and Key Players
CNX Resources Corp's institutional ownership history reveals the levels of trust and confidence that major players have in the company's future. As of 2023-08-31, CNX Resources Corp's institutional ownership level is 75.55%, down from institutional ownership of 77.13% as of 2023-05-31 and up from institutional ownership of 71.01% from a year ago.
Among the most significant stakeholders, the top fund managers owning chunks of CNX Resources Corp's stock are Mason Hawkins (Trades, Portfolio), Mario Gabelli (Trades, Portfolio), and Joel Greenblatt (Trades, Portfolio), with 7.53%, 0.12%, and 0.02% of shares outstanding respectively.
Earnings: Past and Future
Financial performance remains a cornerstone of investment decisions. Over the past three years, CNX Resources Corp's Ebitda growth averaged -19.2% per year, which is worse than 84.68% of 829 companies in the Oil & Gas industry. This growth extends to the five-year marker, with a growth of -37.9% .
But past performance is only part of the story. Looking forward, the estimated earnings growth for CNX Resources Corp is 0% per year, higher than the earnings growth of -21.3% during the past three years.
Insider Ownership and Activities
Insider ownership offers insights into the convictions of the company's board directors and C-level employees. CNX Resources Corp's insider ownership is approximately 4.24% as of 2023-08-31, compared to insider ownership of 3.45% from a year ago, reflecting the increased faith of those intimately familiar with the company's operations.
During the past three months, CNX Resources Corp had 1 insider buy transactions: Bernard Jr Lanigan, Director bought 172,830 shares on 2023-09-18.
Next Steps
In the ever-evolving realm of stocks, understanding the nuances of ownership and earnings is critical. CNX Resources Corp's recent dip is a case study in how major players react to market shifts, and their movements offer crucial insights for potential investors. As always, a holistic view, combining both past performance and future projections, remains key to sound investment decisions.
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