What smart money is saying about CNX Resources Corporation
1 fund in our archive has pitched CNX Resources Corporation — most recently Riverwater Small Cap Strategy in December 2025.
CNX Resources Corporation, an independent natural gas and midstream company, acquires, explores for, develops, and produces natural gas properties in the Appalachian Basin. The company operates in two segments, Shale and Coalbed Methane. It produces and sells pipeline quality natural gas primarily for gas wholesalers. The company owns rights to extract natural gas in Pennsylvania, West Virginia, and Ohio from approximately 526,000 net Marcellus Shale acres; and approximately 610,000 net acres of Utica Shale, as well as rights to extract natural gas from other shale and shallow oil and gas positions from approximately 1,006,000 net acres in Illinois, Indiana, New York, Ohio, Pennsylvania, Virginia, and West Virginia. It also owns rights to extract coalbed methane (CBM) in Virginia from approximately 282,000 net CBM acres in Central Appalachia, as well as 1,733,000 net CBM acres in West Virginia, Pennsylvania, Ohio, Illinois, Indiana, and New Mexico. In addition, the company designs, builds, and operates natural gas gathering systems to move gas from the wellhead to interstate pipelines or other local sales points; owns and operates approximately 2,600 miles of natural gas gathering pipelines, as well as various natural gas processing facilities. It also offers turn-key solutions for water sourcing, delivery, and disposal for its natural gas operations and for third parties. The company was formerly known as CONSOL Energy Inc. and changed its name to CNX Resources Corporation in November 2017. CNX Resources Corporation was founded in 1860 and is headquartered in Canonsburg, Pennsylvania.
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Position history
Between Q4 2025 and Q2 2026, 4 fund letters reported a position in CNX Resources Corporation — 3 opened or added to the position, 1 trimmed or exited.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q2 2026 | 4 | 3 | 1 | 0 |
| Q4 2025 | 0 | 0 | 0 | 1 |
Fund activity · 4 positions · 4 moves
- June 2026
“Within energy, we repositioned toward services. We initiated Oceaneering International (OII), a leader in subsea robotics and offshore services, as offshore and subsea capital spending emerges from a seven-year drought and the U.S. rig count climbs; the position was funded in part by our exit of natural gas producer CNX Resources (CNX).”
CNX Resources Corporation - June 2026
“we added back to CNX at better prices recently.”
CNX Resources Corporation - June 2026
“CNX Resources – After contributing in the first quarter, natural gas company CNX Resources detracted in the second quarter. The company reported another solid 8 quarter and continues to focus on steadily growing FCF per share and value per share. While it was mildly disappointing that CNX did not get a fuller runup earlier in the year like some of its less conservatively financed energy stock peers yet still traded off this quarter, we take comfort knowing that the company has been one of our best share repurchasers over the last several years. This means that stock pullbacks are buying opportunities for the company and for us. We had trimmed our position when energy stocks were riding highest in the wake of the Iran War, but we added back to CNX at better prices recently.”
CNX Resources Corporation - June 2026
“CNX Resources – After contributing in the first quarter, natural gas company CNX Resources detracted in the second quarter. The company reported another solid quarter and continues to focus on steadily growing FCF per share and value per share. While it was mildly disappointing that CNX did not get a fuller runup earlier in the year like some of its less conservatively financed energy stock peers yet still traded off this quarter, we take comfort knowing that the company has been one of our best share repurchasers over the last several years. This means that stock pullbacks are buying opportunities for the company and for us. We had trimmed our position when energy stocks were riding highest in the wake of the Iran War, but we added back to CNX at better prices recently.”
CNX Resources Corporation
Fund coverage · 1 thesis
- Riverwater Small Cap StrategyDecember 2025
CNX Resources is a natural gas producer executing well with strong free cash flow and buybacks amid supportive structural demand.
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