CNX Resources Corporation (CNX) Stock Analysis
Energy · Oil & Gas E&P
Wait for pullback to $31.28. At $33.20 the A.R:R is 0.3:1 — below the 1.5:1 minimum for BUY_NOW. Engine's entry $31.28 (Rr Min Solve Sticky) is the shallowest technical level that clears the 2:1 A.R:R minimum. Key risks: Concentration risk — Geographic: Appalachian Basin; Concentration risk — Commodity: natural gas production (92.0%).
CNX Resources is an Appalachian Basin natural gas E&P and midstream company focused on Marcellus and Utica Shale in Pennsylvania, Ohio, and West Virginia, plus coalbed methane operations in Virginia. Production reached 629 net Bcfe in 2025 (92% natural gas) against 9.7 Tcfe of... Read more
Wait for pullback to $31.28. At $33.20 the A.R:R is 0.3:1 — below the 1.5:1 minimum for BUY_NOW. Engine's entry $31.28 (Rr Min Solve Sticky) is the shallowest technical level that clears the 2:1 A.R:R minimum. Key risks: Concentration risk — Geographic: Appalachian Basin; Concentration risk — Commodity: natural gas production (92.0%). Chart setup: No clear chart pattern; technical signals are mixed. Fundamentals strong but target reached (1.8% upside). Wait for pullback. Score 7.0/10, moderate confidence.
Passes 7/9 gates (positive momentum, clean insider activity, no SEC red flags, news events none recent, earnings proximity 37d clear, semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio. Suitability: aggressive.
About CNX Resources Corporation
About CNX Resources Corporation
CNX Resources produced 629 net Bcfe in 2025—total average output of 1,723,178 Mcfe per day—from Marcellus Shale and Utica Shale formations in Pennsylvania, West Virginia, and Ohio, plus coalbed methane properties in Virginia. The production mix was 92% natural gas and 8% liquids against 9.7 Tcfe of proved reserves at December 31, 2025, with 89.5% natural gas. CNX completed the $518 million acquisition of Apex Energy II's upstream and midstream assets on January 27, 2025.
CNX earns revenue from natural gas and NGL sales at market prices primarily under short-term contracts to gas marketers, industrial customers, local distribution companies, and power generation facilities in the Appalachian Basin. The company owns approximately 2,600 miles of natural gas gathering pipelines—Shale gathering systems in Pennsylvania and West Virginia are wholly owned, while Ohio Shale gathering is contracted to third parties. A significant portion of gas is sold through three pipeline systems: Texas Eastern Transmission, Columbia Gas Transmission, and Eastern Gas Transmission & Storage. Average gas lifting cost was $0.15 per Mcfe in 2025 (excluding ad valorem and severance taxes), while average realized gas price excluding hedging was $2.99 per Mcf. NGL volumes are sold to major midstream processors and through direct in-kind sales at plant tailgates. CNX expects 2026 capital expenditures of $556 million to $586 million, weighted toward Shale segment development.
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CNX's hedge book as of January 8, 2026 covers approximately 448.8 Bcf of 2026 estimated production at an average price of $2.74 per Mcf, 379.3 Bcf of 2027 production at $3.28 per Mcf, and 186.5 Bcf of 2028 production at $3.25 per Mcf—against 2026 sales guidance of 605 to 620 Bcfe. The Appalachian Basin structural discount to Henry Hub is an explicit 10-K risk: the company notes this negative basis 'is forecasted to continue in future years for all Appalachian Basin producers' and could widen if pipeline projects to move gas out of the basin are delayed, cancelled, or denied.
See also: Energy · Oil & Gas E&P
From CNX Resources Corporation's most recent 10-K filing, extracted June 9, 2026.
Recent developments
updated 2026-06-15Recent Developments — CNX Resources Corporation
Latest news
- NEWS CNX Resources Corp. Experiences Revision in Its Stock Evaluation Amid Strong Performance Metrics - Markets Mojo — Markets Mojo positive
- NEWS CNX Resources shows rising price performance with jump to 82 RS rating - MSN — MSN neutral
- NEWS CNX Resources Corporation (CNX) is a top-ranked momentum stock: Should you buy? - MSN — MSN positive
- NEWS CNX Resources Corporation. (CNX) is a Top-Ranked Momentum Stock: Should You Buy? - Yahoo Finance — Yahoo Finance positive
- NEWS CNX Resources (CNX) Q1 Earnings: What To Expect - StockStory — StockStory neutral
Generated 2026-06-15T18:11:46Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- HIGHGeographicAppalachian Basin10-K Item 1A: 'Our producing properties are geographically concentrated in the Appalachian Basin, which exacerbates the impact of regional supply and demand factors on our business'
- HIGHCommoditynatural gas production92%10-K Item 1: '92% Natural Gas, 8% Liquids'
- MEDIUMcounterpartythree pipeline systems10-K Item 1A: 'A significant portion of our natural gas is sold on or through three pipeline systems, Texas Eastern Transmission, Columbia Gas Transmission, and Eastern Gas Transmission & Storage'
- MEDIUMhedge_coveragehedging arrangements10-K Item 1A: 'CNX enters into hedging arrangements ... approximately 448.8 Bcf of our estimated 2026 production at an average price of $2.74 per Mcf'
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Rating Breakdown
1 ceiling hit
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Wait for pullback to $31.28. At $33.20 the A.R:R is 0.3:1 — below the 1.5:1 minimum for BUY_NOW. Engine's entry $31.28 (Rr Min Solve Sticky) is the shallowest technical level that clears the 2:1 A.R:R minimum. Key risks: Concentration risk — Geographic: Appalachian Basin; Concentration risk — Commodity: natural gas production (92.0%). Chart setup: No clear chart pattern; technical signals are mixed. Fundamentals strong but target reached (1.8% upside). Wait for pullback. Target $33.77 (+1.7%), stop $29.59 (−12.2%), Setup A.R:R 1.5:1. Score 7.0/10, moderate confidence.
Take-profit target: $33.77 (+8.1% upside). Target $33.77 (+1.7%), stop $29.59 (−12.2%), Setup A.R:R 1.5:1. Stop-loss: $29.59.
Concentration risk — Geographic: Appalachian Basin; Concentration risk — Commodity: natural gas production (92.0%); Analyst target reached - limited upside remaining.
CNX Resources Corporation trades at a P/E of 4.4 (forward 7.8). TrendMatrix value score: 8.2/10. Verdict: Buy (Wait for Entry).
19 analysts cover CNX with a consensus score of 2.6/5. Average price target: $39.
What does CNX Resources Corporation do?CNX Resources is an Appalachian Basin natural gas E&P and midstream company focused on Marcellus and Utica Shale in...
CNX Resources is an Appalachian Basin natural gas E&P and midstream company focused on Marcellus and Utica Shale in Pennsylvania, Ohio, and West Virginia, plus coalbed methane operations in Virginia. Production reached 629 net Bcfe in 2025 (92% natural gas) against 9.7 Tcfe of proved reserves, supported by approximately 2,600 miles of owned gathering pipelines.