CNX Resources (CNX) AI Stock Analysis

• Market Cap: $4.79B
• Dividend Yield: N/A
• Average Volume (3M): 1.92M
• Price to Earnings (P/E): 9.0
• Beta (1Y): 0.68
• Revenue Growth: 22.23%
• EPS Growth: -130.65%
• Country: US
• Employees: 458
• Sector: Energy
• Sector Strength: 68
• Industry: Oil & Gas Exploration & Production
• EPS (TTM): 0.79
• Shares Outstanding: 144,722,730
• 10 Day Avg. Volume: 1,851,259
• 30 Day Avg. Volume: 1,917,190
• 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: 1.16
• Enterprise Value/Revenue: 0.94
• Enterprise Value/Gross Profit: 7.32
• Enterprise Value/Ebitda: 1.66
• 1Y Price Target: $31.56
• Price Target Upside: -6.04% Downside
• Rating Consensus: Moderate Sell
• Number of Analyst Covering: 9

• Rating: 69 Neutral
• Price Target: $35.00 ▲(4.20%Upside)

CNX Resources shows strong cash management and operational efficiency, which are essential in the volatile oil and gas sector. The positive earnings call highlights strategic moves like share buybacks and hedging but is tempered by pricing pressures and tax concerns. Technical indicators are moderately favorable, while negative earnings impact traditional valuation metrics. Strategic improvements in profitability and market conditions could enhance the outlook.

Positive Factors

Capital Efficiency

CNX is delivering stronger capital efficiencies than expected.

Earnings

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

Outlook

CNX provided an encouraging outlook for '25 with better than expected capital expenditure, driving an impressive free cash flow beat.

Negative Factors

Debt

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

Production Guidance

CNX expects FY2025 total production between 605-620 Bcfe, lower than both Street and MSUSAe at ~632 Bcfe.

Regulatory Challenges

The company continues to face a lack of clarity on the 45V rules, which are inconsistent with scientific assessments.

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
	EBIT
555.32M	178.84M	311.19M	2.59B	1.14B	-101.44M
	EBITDA
249.45M	515.99M	2.80B	376.96M	29.76M	81.80M
	Net Income Common Stockholders
-295.06M	-90.49M	1.72B	-142.08M	-498.64M	-428.74M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
2.62M	17.20M	443.00K	21.32M	3.56M	15.62M
	Total Assets
9.05B	8.51B	8.63B	8.52B	8.10B	8.04B
	Total Debt
2.79B	2.29B	2.37B	2.39B	2.27B	2.54B
	Net Debt
2.79B	2.28B	2.36B	2.37B	2.27B	2.52B
	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: 33.59
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

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 33.59 is above the 20-day moving average (MA) of 31.95, above the 50-day MA of 31.05, and above the 200-day MA of 32.37, indicating a bullish trend. The MACD of 0.33 indicates Negative momentum. The RSI at 62.37 is Neutral, neither overbought nor oversold. The STOCH value of 82.52 is Negative, 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
CRC	75 Outperform	$4.20B	8.54	17.86%	3.29%	41.68%	53.13%
MUR	74 Outperform	$3.57B	9.60	7.54%	5.20%	-14.90%	-27.53%
MGY	74 Outperform	$4.64B	11.96	20.85%	2.48%	8.78%	0.56%
VVV	73 Outperform	$4.63B	17.66	174.55%	―	9.56%	64.10%
NFG	70 Outperform	$7.57B	190.77	1.30%	2.46%	7.14%	-90.91%
CNX	69 Neutral	$4.79B	9.01	-7.30%	―	22.23%	-130.65%
Sector *	58 Neutral	$7.53B	3.34	-4.45%	10.13%	0.83%	-49.64%

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.