Wedge Capital Management L L P NC Boosts Holdings in CNX Resources Corp. as Director Bernard Lanigan Jr. Purchases Over $2 Million Worth of Stock

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Wedge Capital Management L L P NC recently boosted its holdings in CNX ($NYSE:CNX) Resources Corp., with the firm’s director Bernard Lanigan Jr. executing a significant purchase of stock worth over two million dollars. CNX Resources Corp. is an independent oil and natural gas exploration and production company based in the United States. The company has operations located in the Appalachian Basin, including the Marcellus Shale, Utica Shale, and the Upper Devonian Shale. Its activities include exploration, production, and gathering and processing of natural gas. Currently, the company has an expansive portfolio of natural gas assets and its operations generate significant cash flows. This, combined with the firm’s focus on cost reduction and capital efficiency, is expected to drive outperformance in the future.

With the increasing demand for natural gas due to its low carbon emissions, CNX Resources Corp. is well positioned to benefit from this trend. The company’s strategic investments in infrastructure and technology are also likely to improve its operational efficiency in the long term. With such favorable fundamentals, and a strong foothold in the industry, CNX Resources Corp. is set to continue its journey of growth and development in the days ahead.

Share Price

On Thursday, CNX RESOURCES Corp. saw its stock open at $16.9 and close at $17.0, down by 0.8% from prior closing price of 17.1. The purchase is part of the company’s effort to increase its holdings in the energy company. This comes on the heels of previous announcements from Wedge Capital Management about its increasing stake in the energy company. Given the current market climate and the recent uptick in CNX RESOURCES stock, this purchase may be a sign of increased optimism in the company’s prospects.

With Wedge Capital Management increasing its involvement with CNX RESOURCES, investors may be encouraged to invest more heavily in the company as well. Only time will tell if this will have a positive effect on the stock price, but it is clear that the Wedge Capital Management believes in the energy company’s potential. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Cnx Resources. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Cnx Resources. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Cnx Resources. More…

Key Ratios Snapshot

Some of the financial key ratios for Cnx Resources are shown below. More…

Analysis

GoodWhale conducted an analysis of CNX RESOURCES‘ wellbeing and found that, based on the Star Chart, it is strong in growth but medium in assets, profitability and dividend. We gave CNX RESOURCES an intermediate health score of 6/10 with regard to its cashflows and debt, meaning it might be able to sustain operations in times of crisis. We classified CNX RESOURCES as a ‘gorilla’, a type of company that achieved stable and high revenue or earning growth due to its strong competitive advantage. Overall, CNX RESOURCES is a promising company for investors interested in investing in well-positioned companies with strong strategies, such as value investors, growth investors and dividend investors. More…

Peers

The competition between CNX Resources Corp and its competitors is fierce. All of the companies are vying for the same market share, and each is trying to outdo the other in terms of product quality and customer service.

However, CNX Resources Corp has an edge over its competitors because it has a strong brand presence and a loyal customer base.

– HighPeak Energy Inc ($NASDAQ:HPK)

HighPeak Energy Inc is a Canadian oil and gas company with a market cap of 2.44B as of 2022. The company has a Return on Equity of 14.7%. HighPeak Energy is engaged in the exploration, development and production of oil and natural gas in the Western Canadian Sedimentary Basin.

– Earthstone Energy Inc ($NYSE:ESTE)

Stone Energy is an oil and gas exploration and production company with operations primarily in the Gulf of Mexico. The company was founded in 1993 and is headquartered in Lafayette, Louisiana.

As of 2022, Stone Energy has a market capitalization of 1.6 billion dollars and a return on equity of 18.64%. The company’s primary business is the exploration and production of oil and gas, mostly in the Gulf of Mexico. Over the past few years, Stone Energy has been transitioning its portfolio to focus more on natural gas assets. The company is currently active in several major gas plays in the Gulf, including the Haynesville Shale and the Mississippi Lime play.

– Carbon Energy Corp ($OTCPK:CRBO)

Carbon Energy Corp is a Canadian oil and gas company with a market cap of 20.76k as of 2022. The company has a Return on Equity of -36.04%. Carbon Energy Corp is engaged in the exploration, development and production of oil and gas properties in Canada. The company’s operations are focused in the Western Canadian Sedimentary Basin.

Summary

Wedge Capital Management L L P NC recently increased its holdings in CNX Resources Co., with director Bernard Lanigan Jr. buying over $2 million worth of stock. This investment in CNX Resources is a bullish sign for overall investor sentiment in the company, which is a major player in the natural gas industry. Analysts are looking at this move as a signal that the company is heading in a positive direction, and may be a solid investment opportunity going forward.