CNX Stock Summary and Trading Ideas (CNX Resources | NYSE:CNX)

CNX Resources Corp is an independent low carbon intensity natural gas and midstream company engaged in the exploration, development, production and acquisition of natural gas properties in the Appalachian Basin. The company's operating segment include Shale and Coalbed Methane. It generates maximum revenue from the Shale segment. It also has other segment that includes nominal shallow oil and gas production.

CNX Resources trades on the NYSE stock market under the symbol CNX.

As of May 1, 2024, CNX stock price declined to $22.93 with 2,566,681 million shares trading.

CNX has a beta of 0.54, meaning it tends to be less sensitive to market movements. CNX has a correlation of 0.07 to the broad based SPY ETF.

CNX has a market cap of $3.51 billion. This is considered a Mid Cap stock.

Last quarter CNX Resources reported $381 million in Revenue and $.46 earnings per share. This fell short of revenue expectation by $-17 million and exceeded earnings estimates by $.09.

In the last 3 years, CNX stock traded as high as $24.82 and as low as $10.41.

The top ETF exchange traded funds that CNX belongs to (by Net Assets): IJH, VTI, XOP, VB, IWM.

CNX has outperformed the market in the last year with a return of +49.0%, while the SPY ETF gained +22.0%. In the last 3 month period, CNX beat the market returning +13.3%, while SPY returned +2.6%. However, in the most recent 2 weeks CNX has underperformed the stock market by returning -3.9%, while SPY returned 0.0%.

CNX support price is $23.15 and resistance is $23.89 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that CNX stock will trade within this expected range on the day.