As an independent natural gas and midstream company, CNX Resources Corp (CNX, Financial) has carved a niche for itself in the exploration, development, production, and acquisition of natural gas properties in the Appalachian Basin. With a market cap of $3771.82 million and sales figure of $2849.67 million, CNX Resources Corp has been a point of interest for investors. This analysis delves into the company's institutional and insider ownership, providing insights into its recent performance and future prospects.
Understanding CNX Resources Corp's Ownership and Performance
As of the latest available data, CNX Resources Corp has an outstanding share count of 161.46 million. The institutional ownership stands at 118.50 million shares, making up 73.39% of the total shares. Meanwhile, insiders hold 6.85 million shares, accounting for 4.24% of the total share count. The company's stock value experienced a decline of about 3.1% over the past week. As of Oct 18 2023, the stock fell by 0.72%, contrasting with its three-month return of 29.08%.
Institutional Ownership and Key Players
As of 2023-09-30, CNX Resources Corp's institutional ownership level is 73.39%, a slight decrease from 74.34% as of 2023-06-30 and a significant drop from 99.44% from a year ago. 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.
Delving into Earnings: Past and Future
Over the past three years, CNX Resources Corp's Ebitda growth averaged -19.2% per year, which is worse than 85.44% of 824 companies in the Oil & Gas industry. However, 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. This projection is based on a combination of historical data and industry trends, taking into account company-specific elements, broader economic conditions, and anticipated market dynamics.
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. This increase reflects the confidence of those intimately familiar with the company's operations. Notably, Bernard Jr Lanigan, a Director, bought 172,830 shares on 2023-09-18.
Conclusion
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. For further insights, consider screening for stocks with high Insider Cluster Buys using the following page: https://www.gurufocus.com/insider/cluster.
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.
