CNX Resources Corp (CNX) Stock AnalysisCNXCNX Resources Corp

CNX Resources Corporation is an independent carbon intensity natural gas development, production, midstream and technology company. The Company operates and develops Coalbed Methane (CBM) properties in Virginia. Its segments include Shale and Coalbed Methane (CBM). It has rights to extract natural gas from Shale formations in Pennsylvania, West Virginia, and Ohio from approximately 557,000 net Marcellus Shale acres and approximately 612,000 net Utica Shale acres. It also has rights to extract CBM in Virginia from approximately 283,000 net CBM acres. The Company has rights to extract CBM from approximately 1,862,000 net CBM acres, and rights to capture RMG from various active and abandoned mines in other states including West Virginia, Pennsylvania, Ohio, Illinois, Indiana, and New Mexico. It designs, builds and operates natural gas gathering systems to move natural gas from the wellhead to interstate pipelines or other local sales points. It operates in the Energy sector (CRUDE PETROLEUM & NATURAL GAS industry).

CNX Resources Corp is a good buy right now, trading at $34.03 with a strong RSI of 72.39 indicating bullish momentum. The company reported a Q2 GAAP EPS of $1.32, beating expectations by $0.72, showcasing robust profitability. However, the main risk is the hedge fund selling activity, which increased by 282.18% over the last quarter, indicating potential bearish sentiment among institutional investors.

12 analysts cover CNX: 5 rate it Buy, 7 Hold and 0 Sell. The average price target is 33.90.