CNX Resources Corp (NYSE:CNX) Sees Significant Growth in Short Interest
CNX Resources Corp (NYSE:CNX) was the target of a large growth in short interest in July. As of July 15th, there was short interest totalling 32,130,400 shares, a growth of 10.0% from the June 15th total of 29,213,600 shares. Currently, 16.4% of the company’s shares are sold short. Based on an average daily volume of 4,520,000 shares, the days-to-cover ratio is currently 7.1 days.
Separately, Zacks Investment Research upgraded shares of Golub Capital BDC from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Tuesday, July 16th. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $13.40.
In related news, Director J. Palmer Clarkson acquired 10,000 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was acquired at an average cost of $7.50 per share, for a total transaction of $75,000.00. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Bernard Lanigan, Jr. acquired 200,000 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was bought at an average price of $6.39 per share, with a total value of $1,278,000.00. The disclosure for this purchase can be found here. Insiders acquired a total of 497,550 shares of company stock valued at $3,489,382 over the last 90 days. Company insiders own 2.40% of the company’s stock.
Shares of NYSE:CNX traded down $0.30 during midday trading on Monday, reaching $6.19. The company’s stock had a trading volume of 8,036,945 shares, compared to its average volume of 3,933,932. The business has a 50 day moving average of $7.15. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 4.05 and a beta of 0.71. The company has a quick ratio of 0.59, a current ratio of 0.62 and a debt-to-equity ratio of 0.49. CNX Resources has a 12-month low of $6.14 and a 12-month high of $16.42.
CNX Resources (NYSE:CNX) last released its earnings results on Tuesday, April 30th. The oil and gas producer reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.07). The business had revenue of $278.40 million during the quarter, compared to analysts’ expectations of $408.29 million. CNX Resources had a return on equity of 5.66% and a net margin of 12.00%. The firm’s quarterly revenue was down 43.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.19 earnings per share. As a group, analysts predict that CNX Resources will post 0.58 EPS for the current fiscal year.
About CNX Resources
CNX Resources Corporation, an independent oil and gas company, explores for, develops, and produces natural gas primarily in the Appalachian Basin. The company operates through two divisions, Exploration and Production (E&P), and Midstream. The E&P division produces pipeline quality natural gas primarily to gas wholesalers.
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