CNX Resources Q4 Revenue Jumps 347% to $610.5M, EPS $1.28
CNX Resources posted Q4 earnings of $1.28 per share, outstripping the $0.34 analyst consensus, on revenues of $610.5 million, up 347% year-over-year. The company reported net margin of 28.3% and ROE of 9.3%, while AlphaQuest increased its stake by 5,703% to 63,022 shares worth $2.02 million.
1. AlphaQuest LLC Significantly Increases CNX Stake
AlphaQuest LLC expanded its position in CNX Resources Corporation by 5,703.1% during the third quarter, according to its latest SEC filing. The firm acquired an additional 61,936 shares, bringing its total holding to 63,022 shares of the Appalachian Basin gas producer. These shares were valued at approximately $2.02 million at the time of reporting, marking a substantial commitment by AlphaQuest to CNX’s upstream and midstream operations.
2. Broad Institutional Activity Reinforces Investor Confidence
Several major institutional investors also adjusted their CNX positions in the recent period. Mackenzie Financial Corp boosted its stake by 5,262.2%, acquiring 545,114 shares to reach 555,473 shares (valued at roughly $18.71 million). AQR Capital Management LLC more than doubled its holding, adding 532,770 shares for a total of 1,007,486 shares (worth approximately $33.93 million). HRT Financial LP increased its position by 212.9% to 306,803 shares ($10.33 million), while Adage Capital Partners GP L.L.C. and Schroder Investment Management Group grew their CNX stakes by 16.7% and 119.7% respectively, holding 1.4 million shares ($47.15 million) and 347,645 shares ($11.71 million). Combined, institutional investors now own 95.16% of CNX stock.
3. Q4 Financial Results Exceed Analyst Projections
In its fourth quarter report, CNX Resources delivered earnings per share of $1.28, surpassing the consensus estimate of $0.34 by $0.94. Quarterly revenue reached $610.48 million, outpacing the forecast of $422.65 million and representing a 347.0% increase compared to the same period last year. The company reported a net margin of 28.28% and a return on equity of 9.29%, underscoring strong operational leverage and efficient capital utilization in the Marcellus and Utica shale assets.
4. Analyst Ratings Reflect Mixed Sentiment
Equity research firms have maintained a range of ratings on CNX Resources. One analyst has assigned a Buy rating, eight have maintained a Hold recommendation and five have issued Sell opinions, resulting in a consensus rating of “Reduce.” Recent research notes include neutral and underweight assessments, reflecting varied views on CNX’s regional gas exposure and midstream investments despite robust quarterly performance.