As an independent natural gas and midstream company, CNX Resources Corp (CNX, Financial) is actively involved in the exploration, development, production, and acquisition of natural gas properties in the Appalachian Basin. The company's operations are primarily divided into two segments: Shale and Coalbed Methane, with the Shale segment generating the majority of its revenue. CNX Resources Corp also maintains a nominal shallow oil and gas production segment.
Overview of Ownership
As per the latest data, CNX Resources Corp has an outstanding share count of 161.46 million. Institutional ownership stands at 118.50 million shares, making up 73.39% of the total shares. Meanwhile, insiders hold 6.85 million shares, which account for 4.24% of the total share count.
Stock Performance
Over the past week, CNX Resources Corp's stock value has seen a decline of about 5.18%. However, as of Oct 13, 2023, the stock rose by 1.28%, contrasting with its three-month return of 30.41%. The company's market cap rose to $2.87 billion in the most recent quarter from $2.66 billion in the preceding one, indicating a certain level of volatility and sparking interest in the company's ownership trends.
Institutional Ownership and Key Players
CNX Resources Corp's institutional ownership history provides insights into the trust and confidence that major players have in the company's future. As of 2023-09-30, the institutional ownership level is 73.39%, down from 74.34% as of 2023-06-30 and down from 99.44% from a year ago.
Among the most significant stakeholders, the top fund managers owning significant portions 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
Over the past three years, CNX Resources Corp's Ebitda growth averaged -19.2% per year, which is worse than 85.38% of 821 companies in the Oil & Gas industry. 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 provides insights into the convictions of the company's board directors and C-level employees. As of 2023-08-31, CNX Resources Corp's insider ownership is approximately 4.24%, up from 3.45% from a year ago.
During the past three months, CNX Resources Corp had 1 insider buy transaction: Bernard Jr Lanigan, Director, bought 172,830 shares on 2023-09-18.
Concluding Thoughts
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.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
