CNX Resources Options Analysis: $35 Put Contract Attractiveness
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 15 2026
0mins
Should l Buy CNX?
Source: NASDAQ.COM
- Put Option Attractiveness: The $35.00 put option for CNX Resources has a current bid of 5 cents, and if an investor sells this option, they would effectively purchase the stock at a cost basis of $34.95, representing about a 1% discount to the current price of $35.28, making it an attractive investment alternative.
- Expiration Risk: Current analytics indicate a 56% chance that the put option will expire worthless, in which case the premium would yield a 0.14% return on cash commitment, or 0.82% annualized, referred to as YieldBoost, highlighting the potential profitability of options trading.
- Call Option Returns: The $36.00 call option also bids at 5 cents, and if an investor buys shares at $35.28 and sells this call, they could achieve a total return of 2.18% if the stock is called away at expiration, excluding dividends.
- Call Option Risk: The $36.00 strike represents a 2% premium over the current stock price, with a 50% chance of expiring worthless, allowing investors to retain both their shares and the premium collected, thereby enhancing overall investment returns.
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Analyst Views on CNX
Wall Street analysts forecast CNX stock price to fall
10 Analyst Rating
0 Buy
7 Hold
3 Sell
Moderate Sell
Current: 39.250
Low
24.00
Averages
33.90
High
43.00
Current: 39.250
Low
24.00
Averages
33.90
High
43.00
About CNX
CNX Resources Corporation is an ultra-low carbon intensive natural gas development, production, midstream, and technology company centered in Appalachia, United States. The Company's operations are primarily centered on unconventional shale formations, primarily the Marcellus Shale and Utica Shale, in Pennsylvania, Ohio and West Virginia. Additionally, it operates and develops Coalbed Methane (CBM) properties in Virginia. It has rights to extract natural gas from Shale formations in Pennsylvania, West Virginia, and Ohio from approximately 528,000 net Marcellus Shale acres and 606,000 net Utica Shale acres. It has rights to extract CBM in Virginia from approximately 283,000 net CBM acres. It extracts CBM natural gas primarily from the Pocahontas #3 seam. It also has the right to capture Coal Mine Methane from active and abandoned mines in this region. It owns or operates around 2,700 miles of natural gas gathering pipelines as well as a number of natural gas processing facilities.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Capital Expenditure Strategy: CFO Everett Good indicated that first-half 2026 CapEx would account for 60% of the total for the year, allowing flexibility to accelerate frac activity in the second half, reflecting the company's sensitivity to market conditions.
- Confidence in Utica Program: Management reaffirmed confidence in the deep Utica program, planning to complete about five Utica laterals in 2026, attributing any apparent slowdown to timing rather than strategic shifts, demonstrating commitment to long-term development.
- Future Outlook: CNX expects to be approximately 80% hedged for 2027, aiming for a weighted average NYMEX price of about $4, indicating a cautious hedging strategy to protect future earnings amid market uncertainties.
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CNX Resources Q4 Earnings Exceed Expectations
- Strong Earnings: CNX Resources reported a Q4 GAAP EPS of $1.28, beating expectations by $0.91, indicating robust profitability and effective financial management.
- Significant Revenue Growth: The company achieved Q4 revenue of $610.48 million, a staggering 347% increase year-over-year, surpassing market expectations by $179.81 million, reflecting rapid business expansion and strong market demand.
- 2026 Production Outlook: CNX expects total production volumes for 2026 to range between 605 and 620 Bcfe, with plans to drill 30 wells, including 27 Marcellus and 3 deep Utica wells, demonstrating confidence in future growth.
- Capital Expenditure Plans: Projected capital expenditures for the 2026 base program are expected to be between $540 million and $570 million, which will also include the first of three annual payments of $16 million related to the acquisition of Utica rights, indicating a strategic focus on resource expansion.
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- Production Data Disclosure: The company provided supplemental information regarding quarterly exploration and production (E&P) data, including production volumes and hedging information, aimed at offering investors a comprehensive operational perspective to enhance market confidence.
- Investor Relations Activities: CNX has scheduled a Q&A conference call, with replays available on its website, reflecting the company's engagement and communication with investors, thereby enhancing investor participation.
- Resource Reserve Status: As of December 31, 2024, CNX reported 8.54 trillion cubic feet of proved natural gas reserves, demonstrating its strong resource base and long-term value creation capabilities in the energy-rich Appalachian region.
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- Performance Expectation Analysis: Over the past year, CNX has beaten EPS estimates 50% of the time and revenue estimates 25% of the time, indicating a degree of financial stability amidst market fluctuations.
- Estimate Revision Dynamics: In the last three months, EPS estimates have seen four upward and four downward revisions, while revenue estimates have experienced one upward and two downward revisions, highlighting market divergence regarding the company's future performance.
- Market Reaction: Despite Barclays downgrading CNX Resources to a Sell rating, J.P. Morgan raised its rating in a gas sector shuffle, reflecting recognition of the company's financial management amidst mixed market sentiments.
See More
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- Moderna's Positive Outlook: Moderna anticipates a revenue growth of up to 10% by 2025, surpassing the FactSet consensus of 5.9%, despite reporting a narrower fourth-quarter loss of $2.11 per share compared to the expected $2.54, indicating resilience in its market position.
- Maplebear's Strong Performance: Maplebear's Instacart forecasts gross transaction value between $10.13 billion and $10.28 billion for the current quarter, exceeding the $9.97 billion StreetAccount estimate, while adjusted EBITDA is expected to be between $280 million and $290 million, reflecting improved profitability.
- Wendy's Earnings Beat: Wendy's reported adjusted earnings of 16 cents per share and revenue of $543 million for the fourth quarter, both exceeding FactSet expectations, demonstrating its sustained competitiveness in the fast-food market.
- Rivian's Upgraded Delivery Forecast: Rivian projects vehicle deliveries of 62,000 to 67,000 units in 2026, representing a 47% to 59% increase from 2025, and despite a fourth-quarter adjusted loss of 54 cents per share, revenue of $1.29 billion surpassed estimates, indicating strong market demand.
See More
US Stocks Close Higher on Strong Manufacturing Data
- Manufacturing Index Surge: The US January ISM manufacturing index rose by 4.7 to 52.6, surpassing expectations of 48.5, marking the strongest expansion in over 3.25 years, which bolstered market optimism and contributed to stock gains.
- Chip Stocks Rally: Chipmakers and AI infrastructure stocks performed strongly on Monday, with Sandisk (SNDK) surging over 15% to lead the S&P 500 gainers, reflecting strong demand for tech stocks and a recovery in investor confidence.
- Energy Stocks Under Pressure: Energy producers faced headwinds as WTI crude oil prices fell more than 4%, with Diamondback Energy (FANG) and Occidental Petroleum (OXY) both declining over 3%, indicating growing concerns in the energy sector.
- Cryptocurrency Market Retreats: Bitcoin plummeted over 7% to a 9.75-month low, leading to widespread declines in cryptocurrency-related stocks, with Galaxy Digital Holdings (GLXY) and Strategy (MSTR) both dropping over 6%, reflecting weakened investor confidence in the crypto market.
See More
CNX Resources Q4 2025 Earnings Call Insights
- Operational Resilience: CEO Alan Shepard highlighted the company's operational resilience during extreme cold weather in the earnings call, thanking industry workers for their efforts, which underscores the company's stability in challenging conditions.
- Capital Expenditure Strategy: CFO Everett Good indicated that first-half 2026 CapEx would account for 60% of the total for the year, allowing flexibility to accelerate frac activity in the second half, reflecting the company's sensitivity to market conditions.
- Confidence in Utica Program: Management reaffirmed confidence in the deep Utica program, planning to complete about five Utica laterals in 2026, attributing any apparent slowdown to timing rather than strategic shifts, demonstrating commitment to long-term development.
- Future Outlook: CNX expects to be approximately 80% hedged for 2027, aiming for a weighted average NYMEX price of about $4, indicating a cautious hedging strategy to protect future earnings amid market uncertainties.
See More
CNX Resources Q4 Earnings Exceed Expectations
- Strong Earnings: CNX Resources reported a Q4 GAAP EPS of $1.28, beating expectations by $0.91, indicating robust profitability and effective financial management.
- Significant Revenue Growth: The company achieved Q4 revenue of $610.48 million, a staggering 347% increase year-over-year, surpassing market expectations by $179.81 million, reflecting rapid business expansion and strong market demand.
- 2026 Production Outlook: CNX expects total production volumes for 2026 to range between 605 and 620 Bcfe, with plans to drill 30 wells, including 27 Marcellus and 3 deep Utica wells, demonstrating confidence in future growth.
- Capital Expenditure Plans: Projected capital expenditures for the 2026 base program are expected to be between $540 million and $570 million, which will also include the first of three annual payments of $16 million related to the acquisition of Utica rights, indicating a strategic focus on resource expansion.
See More
CNX Resources Corporation Releases Q4 2025 Financial Results
- Financial Results Release: CNX Resources Corporation announced its Q4 2025 financial and operational results on January 29, 2026, showcasing the company's commitment to transparency and information disclosure through its website.
- Production Data Disclosure: The company provided supplemental information regarding quarterly exploration and production (E&P) data, including production volumes and hedging information, aimed at offering investors a comprehensive operational perspective to enhance market confidence.
- Investor Relations Activities: CNX has scheduled a Q&A conference call, with replays available on its website, reflecting the company's engagement and communication with investors, thereby enhancing investor participation.
- Resource Reserve Status: As of December 31, 2024, CNX reported 8.54 trillion cubic feet of proved natural gas reserves, demonstrating its strong resource base and long-term value creation capabilities in the energy-rich Appalachian region.
See More
CNX Resources Set to Announce Q4 Earnings on January 29
- Earnings Announcement Schedule: CNX Resources is set to release its Q4 earnings on January 29 before market open, with consensus EPS estimated at $0.39 and revenue expected to reach $430.67 million, reflecting an 18.2% year-over-year growth.
- Performance Expectation Analysis: Over the past year, CNX has beaten EPS estimates 50% of the time and revenue estimates 25% of the time, indicating a degree of financial stability amidst market fluctuations.
- Estimate Revision Dynamics: In the last three months, EPS estimates have seen four upward and four downward revisions, while revenue estimates have experienced one upward and two downward revisions, highlighting market divergence regarding the company's future performance.
- Market Reaction: Despite Barclays downgrading CNX Resources to a Sell rating, J.P. Morgan raised its rating in a gas sector shuffle, reflecting recognition of the company's financial management amidst mixed market sentiments.
See More
