CNX Resources (CNX) AI Stock Analysis

• Market Cap: $4.92B
• Dividend Yield: N/A
• Average Volume (3M): 2.04M
• Price to Earnings (P/E): 9.0
• Beta (1Y): 0.59
• Revenue Growth: 22.23%
• EPS Growth: -130.65%
• Country: US
• Employees: 458
• Sector: Energy
• Sector Strength: 54
• Industry: Oil & Gas Exploration & Production
• EPS (TTM): 0.79
• Shares Outstanding: 144,722,730
• 10 Day Avg. Volume: 1,810,548
• 30 Day Avg. Volume: 2,038,131
• PEG Ratio: 0.33
• Price to Book (P/B): 1.08
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 4.77
• Enterprise Value/Market Cap: 1.13
• Enterprise Value/Revenue: 0.94
• Enterprise Value/Gross Profit: 7.32
• Enterprise Value/Ebitda: 1.66
• 1Y Price Target: $31.22
• Price Target Upside: -8.26% Downside
• Rating Consensus: Moderate Sell
• Number of Analyst Covering: 9

• Rating: 64 Neutral
• Price Target: $35.00 ▲(2.85%Upside)

CNX Resources' operational efficiency and strong cash flow management are significant positives, providing stability amid industry volatility. The earnings call offers cautious optimism, emphasizing strategic initiatives like a robust share buyback and effective hedging. However, profitability challenges and valuation concerns limit the overall score.

Positive Factors

Financial Outlook

Analyst's NAV-based price target for CNX has increased to $29/share.

Financial Performance

Adjusted EBITDAX slightly beat BofA and Consensus estimates due to lower gathering, processing, and transportation taxes.

Negative Factors

Debt and Leverage

CNX is the most leveraged natural gas exploration and production company in the coverage with a net debt and leverage of 2.43x.

Free Cash Flow Expectations

The expected free cash flow for FY25 is $489.7 million, which is below the guidance of approximately $575 million.

Production Uncertainty

High number of wells turned in line during the quarter leads to questions around production cadence for the remainder of the year.

CNX Resources Business Overview & Revenue Model

Company Description

CNX Resources Corporation, an independent natural gas and midstream company, acquires, explores for, develops, and produces natural gas properties in the Appalachian Basin. The company operates in two segments, Shale and Coalbed Methane. It produces and sells pipeline quality natural gas primarily for gas wholesalers. The company owns rights to extract natural gas in Pennsylvania, West Virginia, and Ohio from approximately 526,000 net Marcellus Shale acres; and approximately 610,000 net acres of Utica Shale, as well as rights to extract natural gas from other shale and shallow oil and gas positions from approximately 1,006,000 net acres in Illinois, Indiana, New York, Ohio, Pennsylvania, Virginia, and West Virginia. It also owns rights to extract coalbed methane (CBM) in Virginia from approximately 282,000 net CBM acres in Central Appalachia, as well as 1,733,000 net CBM acres in West Virginia, Pennsylvania, Ohio, Illinois, Indiana, and New Mexico. In addition, the company designs, builds, and operates natural gas gathering systems to move gas from the wellhead to interstate pipelines or other local sales points; owns and operates approximately 2,600 miles of natural gas gathering pipelines, as well as various natural gas processing facilities. It also offers turn-key solutions for water sourcing, delivery, and disposal for its natural gas operations and for third parties. The company was formerly known as CONSOL Energy Inc. and changed its name to CNX Resources Corporation in November 2017. CNX Resources Corporation was founded in 1860 and is headquartered in Canonsburg, Pennsylvania.

How the Company Makes Money

CNX Resources generates revenue primarily through the production and sale of natural gas. The company drills wells in the Appalachian Basin to extract natural gas, which is then sold to various customers, including utilities, industrial users, and energy marketers. CNX leverages its operational expertise and technological advancements to maximize gas production and minimize costs, thereby enhancing profitability. In addition to direct sales, CNX may engage in hedging activities to manage price volatility and secure stable cash flows. Strategic partnerships and joint ventures with other energy companies can also enhance CNX's operational capabilities and market reach, contributing to its overall revenue generation.

CNX Resources Financial Statement Overview

Summary

CNX Resources faces challenges with profitability, reflected in negative net income and fluctuating revenues. However, operational efficiency remains a strength, with stable EBIT and EBITDA margins. Financial leverage is a concern but is counterbalanced by a robust equity position. Cash flows are strong, highlighting effective cash management despite industry volatility.

Income Statement

The company has shown fluctuating revenue with a decrease in the TTM period compared to previous years. The gross profit margin has been inconsistent, reflecting market volatility in the oil and gas sector. The net profit margin is negative, indicating operational challenges, but the EBIT and EBITDA margins are relatively stable, suggesting potential for operational efficiency improvements.

Balance Sheet

The debt-to-equity ratio is somewhat high, implying increased financial leverage, which could pose risks if not managed properly. However, the company maintains a strong equity position, indicating long-term solvency. Return on Equity (ROE) is currently negative due to net losses, but the equity ratio remains healthy, reflecting a solid foundation of stockholder investment.

Cash Flow

Despite a decline in free cash flow growth, the operating cash flow is robust relative to net income, suggesting strong cash-generating ability. The free cash flow to net income ratio is positive, indicating effective management in converting earnings to cash despite operational losses. Continued focus on capital expenditures and cash flow management will be crucial.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.67B	1.44B	1.46B	3.92B	2.39B	1.08B
Gross Profit	759.41M	415.77M	475.50M	2.80B	1.36B	131.99M
EBITDA	249.45M	515.99M	2.80B	376.96M	29.76M	81.80M
Net Income	-295.06M	-90.49M	1.72B	-142.08M	-498.64M	-428.74M
Balance Sheet
Total Assets	9.05B	8.51B	8.63B	8.52B	8.10B	8.04B
Cash, Cash Equivalents and Short-Term Investments	2.62M	17.20M	443.00K	21.32M	3.56M	15.62M
Total Debt	2.79B	2.29B	2.37B	2.39B	2.27B	2.54B
Total Liabilities	5.28B	4.41B	4.27B	5.57B	4.40B	3.62B
Stockholders Equity	3.77B	4.10B	4.36B	2.95B	3.70B	4.42B
Cash Flow
Free Cash Flow	342.76M	275.45M	135.18M	669.26M	460.50M	307.78M
Operating Cash Flow	846.37M	815.78M	814.59M	1.24B	926.36M	795.07M
Investing Cash Flow	-958.41M	-484.47M	-509.38M	-528.29M	-420.61M	-438.97M
Financing Cash Flow	122.94M	-276.68M	-326.09M	-688.96M	-523.78M	-350.79M

CNX Resources Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 34.03
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CNX, the sentiment is Positive. The current price of 34.03 is above the 20-day moving average (MA) of 33.24, above the 50-day MA of 32.27, and above the 200-day MA of 32.83, indicating a bullish trend. The MACD of 0.21 indicates Positive momentum. The RSI at 60.18 is Neutral, neither overbought nor oversold. The STOCH value of 66.44 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CNX.

CNX Resources Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	76 Outperform	€12.79B	15.07	12.28%	5.12%	3.28%	-1.80%
CRC	75 Outperform	$4.27B	8.67	17.86%	3.24%	41.68%	53.13%
MUR	75 Outperform	$3.77B	10.15	7.54%	4.92%	-14.90%	-27.53%
VVV	73 Outperform	$4.90B	18.71	174.55%	―	9.56%	64.10%
MGY	73 Outperform	$4.58B	11.82	20.85%	2.52%	8.78%	0.56%
NFG	70 Outperform	$7.48B	188.66	1.30%	2.58%	7.14%	-90.91%
CNX	64 Neutral	$4.92B	9.01	-7.30%	―	22.23%	-130.65%

CNX Resources Corporate Events

CNX Resources Appoints Alan Shepard as President

On June 11, 2025, CNX Resources Corporation announced the appointment of Alan Shepard as the company’s President, in addition to his role as Chief Financial Officer. Shepard, who joined the company in 2020 and has been CFO since June 2022, succeeds Nicholas DeIuliis, who remains as CEO and a board member. Shepard has played a key role in the company’s strategic initiatives, including the Apex Energy acquisition.

The most recent analyst rating on (CNX) stock is a Hold with a $33.00 price target. To see the full list of analyst forecasts on CNX Resources stock, see the CNX Stock Forecast page.