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CNX Resources Corporation (CNX)

NYSE - NYSE Delayed Price. Currency in USD
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13.76+0.03 (+0.22%)
At close: 4:00PM EDT
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  • r
    r_u_buying
    Well keep up the buyback guys - crazy market.

    With these energy powerhouses in the perpetual doghouse, no one can say there’s no value in the market...
  • s
    sonkist32
    Anytime we dip below 15 someone comes in hard and buys.
    Gotta be Nick spending all the quarter’s FCF buying back shares.
  • t
    tmh0312
    Why is everyone looking for a buyout here? You've got a high quality team, well versed in capital allocation, in a cyclical market that's continuously growing, with essential a recurring revenue stream, trading at around a 10% free cash flow yield. Just set it and forget it because you've found a cyclical compounder. Continuously buy around that 10% yield over the next decade and you'll come out looking like a champ. You lose out on a lot of value in the long run if they get bought out here.
  • d
    dave
    EQT must be sniffing around again. No other explanation for a rise like this with no news. Wonder what the takeout price will be? $20?
  • s
    sonkist32
    Looks like Nick is using some cash to buy more shares today!
  • r
    r_u_buying
    Wow I can hear a pin drop in here
  • t
    tmh0312
    What's $2.00 in FCF per share worth at a 10% discount rate? 7%? 5%? Anybody?
  • Y
    Yahoo Finance Insights
    CNX Resources is up 7.81% to 14.64
  • s
    sonkist32
    Natural Gas price fluctuations mean very little to CNX. Almost all their 2021 and 2022 production is hedged and already sold.
  • p
    paul
    CNX had an interesting report out today regarding their PV-10 calcs. Long story short, their PV-10 value is back to where it was in 2017 after increasing $2B (thats right, Billion) in 2018. Hence issue is getting slammed today.

    It's interesting because the important variables are price expected and total proved resources which are relatively predicable prior to the report.

    Another aspect of this is to note what valuation CNX had in 2017 given the same PV-10 value. A look at the chart shows the stock price was nearly double what it is today and I happen to know that the share count is 25% less now. So as a ratio of evaluation to PV-10, CNX is more than 2x cheaper than it was in 2017.

    Any opinions welcome.
  • k
    ky mike
    CNX wants to spend free cash flow on share buybacks. I prefer dividends. Question. Can the CNX executives that in my humble opinion less than honestly acquired my CNXM shares distribute these shares bought with my CNXM earnings to themselves as options and short/long term inventive compensation? If so, that is perfect. Slash CNXM dividend, stock tanks, buy all outstanding shares, makes CNX balance sheet look awesome, use free cash flow to buy shares that then give to the executives for strong free cash flow. The grift that keeps on giving. I would have preferred a poor family robbed me of my approximate 80 K than give it to CNX executives.
  • Y
    Yahoo Finance Insights
    CNX Resources is up 8.06% to 15.82
  • p
    paul
    Here's the trouble--it has to do with the coal spin-off of CEIX

    From CNX 10-k filed on 2/10/20:

    Indemnities that CNX may be required to provide CONSOL Energy are not subject to any cap, may be significant and could negatively impact our business. Third-parties could also seek to hold us responsible for any of the liabilities that CONSOL Energy has agreed to retain. Any amounts we are required to pay pursuant to these indemnification obligations and other liabilities could require us to divert cash that would otherwise have been used in furtherance of our operating business. Further, the indemnity from CONSOL Energy may not be sufficient to protect us against the full amount of such liabilities, and CONSOL Energy may not be able to fully satisfy its indemnification obligations. Moreover, even if we ultimately succeed in recovering from CONSOL Energy any amounts for which we are held liable, CNX may be temporarily required to bear such losses. Each of these risks could negatively affect our business, results of operations and financial condition.

    CEIX has 2 billion in liabilities as of their latest 10q--
  • J
    John
    They have successfully stolen a midstream that had a dividend and converted it into a company with no dividend. Win all around LOL. They successfully stole the company by dropping the distribution more than any other company did in the name of Covid so they could tank the price and take over the company. Insider trading is illegal, but this blatant nonsense is allowed every day.
  • J
    Jean
    CNX CEO's presentation is a snow job trying to convince shareholders to back off of the lawsuit based on futures delivering improved stock prices. Not going to happen. They drove the price down and stole the generous dividends of my CNXM. I want to be paid NOW for the lost value not in 7 years! Full steam ahead with the lawyers
  • y
    y
    CNX was down 6.5% today. Wow, and wow. Who would have thought? Closed at $10.92 for a new low. Since Dec 13th, along with the entire market, CNX has been down consistently. I am personally losing a lot of money- but he market gives and takes away.

    I personally, am not taking this fall very seriously, as I can not see any fundamental reason for its fall- so I'll call it a large technical correction brought along by a lot of short-term (most likely) situations like the China/US trade dispute. It also looks like rather bad timing for this new aggressive interest-rate rising environment we are experiencing.

    Most trading is now done with programs and unlike most of history, we now have a whole lot of index funds, etc, that all trade at once exacerbating the moves- which recently have been down.

    Soon we'll be able to get a stock like CNX for 2 x next year's earnings projection! Well, not yet, but CHK is close.

    CHK: $1.73 (2.47 x 2019 earnings)
    BCEI: $18.93 (2.75 x 2019 earnings)
    CNX: $10.92 (10.92 x 2019 earnings)
    DOW: 21,792
  • S
    Skippy00823
    A very strong day for crude oil today. CNX is higher as well.
  • D
    Dawg
    This doesn't change the rip-off of CNXM holders. Full speed ahead with the lawsuit!
  • J
    Jason
    Looks to me CNX has bottomed at $4.75. EQT is up by more than 10% today after earnings. EQT plans only maintenance capital spending going forward, its production decreased in Q4 2019. CNX is in better shape due to its hedging and low cash cost.
  • t
    tmh0312
    As painful as this might be to hear right now, if you were a CNXM shareholder, hang on to the shares of CNX you'll be receiving. They will be worth significantly more in the next 5 to 7 years.

    Or at the very least, take the time to thoroughly research the new entity that has been created here before selling, if you have not already. This merger has created a world class asset that will demand a hefty premium if ever sold. Now is the time to be accumulating.

    These are just my opinions, but I do urge people to consider what was said before moving.

    Good luck everybody

    Merger Info
    https://www.prnewswire.com/news-releases/cnx-resources-corporation-to-acquire-remaining-public-stake-in-cnx-midstream-partners-lp-301099849.html
    /PRNewswire/ -- CNX Resources Corporation (NYSE: CNX) ("CNX") and CNX Midstream Partners LP (NYSE: CNXM) ("CNX Midstream" or the "Partnership") today announced...
    /PRNewswire/ -- CNX Resources Corporation (NYSE: CNX) ("CNX") and CNX Midstream Partners LP (NYSE: CNXM) ("CNX Midstream" or the "Partnership") today announced...
    prnewswire.com