CNX Resources (NYSE:CNX) - Share price, News & Analysis

CNX fundamental analysis
Snowflake Score
Valuation	3/6
Future Growth	4/6
Past Performance	0/6
Financial Health	2/6
Dividends	0/6

CNX Stock Overview

CNX Resources Corporation, an independent natural gas and midstream company, acquires, explores for, develops, and produces natural gas properties in the Appalachian Basin.

Rewards

Trading at 72.4% below our estimate of its fair value

Earnings are forecast to grow 84.3% per year

Risk Analysis

No risks detected for CNX from our risk checks.

CNX Resources Competitors

ConocoPhillips

NYSE:COP

US$133.3b

Devon Energy

NYSE:DVN

US$46.2b

Hess

NYSE:HES

US$35.1b

Coterra Energy

NYSE:CTRA

US$24.7b

Price History & Performance

Summary of all time highs, changes and price drops for CNX Resources
Historical stock prices
Current Share Price	US$19.58
52 Week High	US$23.33
52 Week Low	US$10.41
Beta	1.27
1 Month Change	-9.98%
3 Month Change	23.53%
1 Year Change	38.96%
3 Year Change	157.63%
5 Year Change	27.31%
Change since IPO	174.81%

Recent News & Updates

Apr 10

Gas Producer CNX: Show Us The Money, Or Not

Gas producer CNX Resources is one of the largest Appalachian-based E&Ps. The company posted $2.90/share in earnings in Q4 and generated $356 million in total FCF during FY21. Yet the company pays no dividend to its shareholders. What gives? While it is understandable that the company wants to reduce debt, note that the management team prefers share buybacks to dividends directly to its investors.

Shareholder Returns

	CNX	US Oil and Gas	US Market
7D	4.0%	1.3%	-2.7%
1Y	39.0%	52.5%	-12.9%

Return vs Industry: CNX underperformed the US Oil and Gas industry which returned 52.5% over the past year.

Return vs Market: CNX exceeded the US Market which returned -12.9% over the past year.

Price Volatility

Is CNX's price volatile compared to industry and market?
CNX volatility
CNX Average Weekly Movement	5.9%
Oil and Gas Industry Average Movement	8.4%
Market Average Movement	7.8%
10% most volatile stocks in US Market	16.8%
10% least volatile stocks in US Market	2.9%

Stable Share Price: CNX is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: CNX's weekly volatility (6%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1860	441	Nick DeIuliis	https://www.cnx.com

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.

CNX Resources Fundamentals Summary

How do CNX Resources's earnings and revenue compare to its market cap?
CNX fundamental statistics
Market Cap	US$3.82b
Earnings (TTM)	-US$1.52b
Revenue (TTM)	US$2.76b

1.4x

P/S Ratio

-2.5x

P/E Ratio

Is CNX overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
CNX income statement (TTM)
Revenue	US$2.76b
Cost of Revenue	US$551.34m
Gross Profit	US$2.21b
Other Expenses	US$3.73b
Earnings	-US$1.52b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	-7.79
Gross Margin	80.01%
Net Profit Margin	-55.11%
Debt/Equity Ratio	87.1%

How did CNX perform over the long term?

See historical performance and comparison

Valuation

Is CNX Resources undervalued compared to its fair value and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

>50%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: CNX ($19.58) is trading below our estimate of fair value ($70.94)

Significantly Below Fair Value: CNX is trading below fair value by more than 20%.

Price To Earnings Ratio

PE vs Industry: CNX is unprofitable, so we can't compare its PE Ratio to the US Oil and Gas industry average.

PE vs Market: CNX is unprofitable, so we can't compare its PE Ratio to the US market.

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate CNX's PEG Ratio to determine if it is good value.

Price to Book Ratio

PB vs Industry: CNX is good value based on its PB Ratio (1.5x) compared to the US Oil and Gas industry average (2.1x).

Future Growth

How is CNX Resources forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

Future Growth Score

4/6

Future Growth Score 4/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

84.3%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: CNX is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.9%).

Earnings vs Market: CNX is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: CNX's is expected to become profitable in the next 3 years.

Revenue vs Market: CNX's revenue (11.9% per year) is forecast to grow faster than the US market (7.8% per year).

High Growth Revenue: CNX's revenue (11.9% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: CNX's Return on Equity is forecast to be low in 3 years time (15.3%).

Past Performance

How has CNX Resources performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-43.8%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: CNX is currently unprofitable.

Growing Profit Margin: CNX is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: CNX is unprofitable, and losses have increased over the past 5 years at a rate of 43.8% per year.

Accelerating Growth: Unable to compare CNX's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: CNX is unprofitable, making it difficult to compare its past year earnings growth to the Oil and Gas industry (88.4%).

Return on Equity

High ROE: CNX has a negative Return on Equity (-59.14%), as it is currently unprofitable.

Financial Health

How is CNX Resources's financial position?

Financial Health Score

2/6

Financial Health Score 2/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Stable Cash Runway
Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: CNX's short term assets ($416.9M) do not cover its short term liabilities ($2.1B).

Long Term Liabilities: CNX's short term assets ($416.9M) do not cover its long term liabilities ($3.5B).

Debt to Equity History and Analysis

Debt Level: CNX's net debt to equity ratio (86.6%) is considered high.

Reducing Debt: CNX's debt to equity ratio has increased from 67.1% to 87.1% over the past 5 years.

Balance Sheet

Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Whilst unprofitable CNX has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: CNX is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 24.8% per year.

Dividend

What is CNX Resources's current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate CNX's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate CNX's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if CNX's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if CNX's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: CNX is not paying a notable dividend for the US market.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as CNX has not reported any payouts.

Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

2.5yrs

Average management tenure

CEO

Nick DeIuliis (52 yo)

11.25yrs

Tenure

US$8,572,755

Compensation

Mr. Nicholas J. DeIuliis, also known as Nick, serves as Director and Chief Executive Officer of CNX Resources Corporation since May 7, 2014 and its President since February 23, 2011. Prior to the separatio...

CEO Compensation Analysis

Compensation vs Market: Nick's total compensation ($USD8.57M) is about average for companies of similar size in the US market ($USD6.86M).

Compensation vs Earnings: Nick's compensation has been consistent with company performance over the past year.

Leadership Team

Experienced Management: CNX's management team is considered experienced (2.5 years average tenure).

Board Members

Experienced Board: CNX's board of directors are considered experienced (6 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/05/21 00:00
End of Day Share Price	2022/05/20 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31