Insider sale and option exercise
Director Bernard Lanigan Jr. of CNX Resources sold 46,119 shares of the company’s common stock on February 19, 2026, generating about $1.87 million in proceeds. The shares were disposed of at a weighted average price of $40.5955, with individual trade prices ranging from $40.3100 to $40.7100.
On the same date Lanigan exercised options to acquire 46,119 shares at an exercise price of $13.1857 per share, a transaction that carried a total cost of $608,111.
Post-transaction holdings
Following these transactions, Lanigan holds 177,180 shares directly. He also retains indirect holdings across several entities: 401,820 shares through Conifer Partners IV, LLC; 669,806 shares through Conifer Partners III, LLC; 82,600 shares through Conifer Partners II, LLC; 30,600 shares via Lanigan Family Holdings, LLC; and 58,845 shares through Teton Pines Capital, LLC.
Share performance context
The insider activity occurred as CNX’s stock was trading near a 52-week high of $42.13, after a roughly 40% gain over the preceding six months.
Company results and financing actions
CNX reported fourth-quarter 2025 earnings that exceeded market expectations. The company posted earnings per share of $1.28 versus an anticipated $0.35, representing a 265.71% surprise. Revenue for the quarter reached $610.48 million compared with expected revenue of $432.28 million, a 41.22% upside.
In corporate finance activity, CNX announced the pricing of $500 million in senior notes due 2034, with the offering expected to close in February 2026. The company also launched a cash tender offer to purchase its outstanding 6.000% senior notes due 2029.
Analyst reaction and guidance
Following the strong quarterly results, Raymond James reiterated its Market Perform rating on CNX Resources. The company provided guidance for fiscal 2026 expecting flat production at approximately 612 million cubic feet equivalent.
Valuation note
Analysis cited in the source indicates CNX remains undervalued at current price levels.
Takeaway
The combination of insider option exercise and subsequent share sale, a robust quarterly beat on both EPS and revenue, and the initiation of debt transactions are the prominent developments for CNX. Management’s guidance of flat production for 2026 and the recent financing moves are central items for investors assessing the company’s near-term profile.