Company Description
CNX Resources Corporation (NYSE: CNX) is a natural gas development, production, midstream, and technology company centered in Appalachia, a region it describes as one of the most energy-abundant in the world. According to the company, it focuses on ultra-low carbon intensive natural gas and related midstream activities and builds on a long regional legacy and substantial asset base. CNX Resources is included in the Standard & Poor's Midcap 400 Index.
The company characterizes itself as having core operational competencies in natural gas development and production, midstream operations, and technology development. It emphasizes technology development and innovation, along with capital allocation methodologies that are intended to support what it calls a sustainable business model and long-term per share value creation. CNX states that it deploys free cash flow with the goal of creating long-term per share value for shareholders, employees, and the communities where it operates.
CNX Resources reports that, as of December 31, 2024, it had 8.54 trillion cubic feet equivalent of proved natural gas reserves. The company describes its approach as responsibly developing its resources while maintaining a focus on ultra-low carbon intensity. Its operations are centered in the Appalachian region, and it highlights a 161-year regional legacy, indicating a long history of energy-related activity connected to its current business.
In addition to its development and production activities, CNX identifies itself as a midstream and technology company. This reflects its participation in moving natural gas from production to downstream markets and its emphasis on technology development as part of its operating model. The company also references a vertically integrated business model in its communications, noting experience across both upstream and midstream operations within its organization.
CNX Resources regularly communicates financial and operational results through quarterly prepared remarks, earnings materials, and presentations posted on its investor-focused channels. These materials typically include information on production volumes, hedging, financial statements, and non-GAAP reconciliations, as referenced in its public announcements. The company also hosts Q&A conference calls and webcasts in connection with its quarterly results.
Corporate governance and leadership changes are documented in CNX’s public disclosures. The company has reported a planned transition in its senior leadership, with its Board of Directors appointing a new President and Chief Executive Officer and a new Chief Financial Officer effective January 1, 2026. These appointments, along with related compensation and change-in-control arrangements, are described in the company’s Form 8-K filings with the U.S. Securities and Exchange Commission (SEC).
CNX has also reported transactions involving its capital structure. In particular, it disclosed privately negotiated exchange agreements with holders of its 2.25% Convertible Senior Notes due 2026. Under these exchange agreements, a portion of the notes was exchanged for a combination of cash and shares of common stock in transactions conducted as private placements under an exemption from registration provided by the Securities Act of 1933.
Through its SEC filings, CNX provides information on results of operations and financial condition, leadership transitions, and capital markets activities. These filings, including current reports on Form 8-K, offer additional detail on how the company manages its executive leadership, compensation arrangements, and financing transactions. Together with its recurring earnings communications, these disclosures form a key part of the information available to investors and other stakeholders regarding CNX Resources Corporation.
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Short Interest History
Short interest in Cnx Res (CNX) currently stands at 18.6 million shares, down 35.4% from the previous reporting period, representing 19.8% of the float. Over the past 12 months, short interest has decreased by 24.8%. This moderate level of short interest indicates notable bearish positioning. The 7.7 days to cover indicates moderate liquidity for short covering.
Days to Cover History
Days to cover for Cnx Res (CNX) currently stands at 7.7 days, down 46.3% from the previous period. This moderate days-to-cover ratio suggests reasonable liquidity for short covering, requiring about a week of average trading volume. The ratio has shown significant volatility over the period, ranging from 7.7 to 18.2 days.