- CNX Resources reported a loss per share of $1.34 for the first quarter.
- Shale gas sales volume reached 126.0 billion cubic feet (Bcf).
- Coalbed Methane (CBM) gas sales volume was 9.3 Bcf.
- NGLs sales volume totaled 12.2 billion cubic feet equivalent (Bcfe).
- The average sales price of oil per Mcfe was $9.61, missing the estimate of $59.67.
- The average sales price for gas was $3.66 per Mcfe, slightly beating the estimate of $3.49.
- NGLs average sales price was $4.42 per Mcfe.
- Total production stood at 1,642 million cubic feet equivalent per day (mmcfe/d).
- Lease operating expense was 16 cents per Mcfe, higher than the 13 cents estimate.
- Adjusted EBITDAX was reported at $325 million, surpassing the estimate of $313.7 million.
- Free cash flow generated in the first quarter was $100 million.
- Capital expenditure was $131.5 million, below the estimated $146 million.
- Analyst recommendations included 2 buys, 8 holds, and 7 sells.
CNX Resources on Smartkarma
Analyst coverage of CNX Resources on Smartkarma reveals insights from Baptista Research. In their report titled “CNX Resources: Expansion & Development of Utica Shale Assets Driving Our Bullishness!“, they discuss the company’s fourth-quarter results for 2024, highlighting a mix of opportunities and challenges. CNX Resources is actively exploring new technologies and strategic initiatives, demonstrating resilience in a volatile energy market. A positive focus is on their progress in capturing and utilizing coal mine methane (CMM), recognized federally as a low-carbon intensity feedstock for hydrogen production under the 45V guidelines.
A look at CNX Resources Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 1 | |
| Growth | 4 | |
| Resilience | 3 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 3.0 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Based on the Smartkarma Smart Scores, CNX Resources shows strong potential for long-term growth and value. With high scores in Value and Growth, the company is positioned well for future success in the natural gas industry. However, its lower scores in Dividend, Resilience, and Momentum indicate areas that may need attention in order to maximize its overall performance. CNX Resources Corporation operates as a natural gas exploration and production company in the United States, focusing on developing and producing natural gas reserves, methane, and shale beds.
While CNX Resources demonstrates promising value and growth prospects, its overall outlook may be influenced by its weaker scores in Dividend, Resilience, and Momentum. Investors considering CNX Resources should carefully evaluate these factors alongside the company’s strengths to make informed investment decisions. With a solid foundation in the natural gas industry, CNX Resources has the potential to leverage its strong value and growth attributes for long-term success.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
Have feedback on this article? Concerned about the content? Get in touch with us directly.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Analytics and News
- ✓ Events & Webinars
