28 Apr 2020material agreement▼ BadMajor
As COVID-19 hit commodity markets, CNX's lenders cut its credit-facility borrowing base from $2.3 billion to $1.9 billion and capped how much balance-sheet cash it could hold.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
27 Apr 2020quarterly activities report▼ Bad
CNX Resources Corp reported quarterly revenue of $416.4 million and a net loss of $329.1 million for the period ended 2020-03-31.
27 Apr 2020quarterly activities report▼ Bad
CNX Resources Corp reported quarterly revenue of $416.4 million and a net loss of $329.1 million for the period ended 2020-03-31.
14 Feb 2020substantial holder notice● Neutral
Southeastern Asset Management, Inc. I.D. No, Longleaf Partners Fund I.D. No, Longleaf Partners Small-Cap Fund I.D. No, O. Mason Hawkins I.D. No. XXX-XX-XXXX reported a CNX Resources Corp shareholding of 51,035,484 shares (27.40% of votes) in a periodic institutional filing.
12 Feb 2020substantial holder notice● Neutral
The Vanguard Group reported a CNX Resources Corp shareholding of 13,457,474 shares (7.21% of votes) in a periodic institutional filing.
4 Feb 2020substantial holder notice● Neutral
BlackRock, Inc reported a CNX Resources Corp shareholding of 22,043,383 shares (11.80% of votes) in a periodic institutional filing.
31 Jan 2020substantial holder notice● Neutral
CNX Resources and two subsidiaries filed a Schedule 13D amendment showing they held 47,692,198 common units, or 53.1%, of CNX Midstream Partners LP after the January 29, 2020 IDR elimination transaction, which gave CNX 26 million new units, 3 million Class B units and $135 million in cash installments.
30 Jan 2020material agreement▲ GoodMajor
CNX Midstream Partners cancelled all its incentive distribution rights and converted the general partner's 2% interest into a non-economic one. In exchange it issued CNX Gas 26 million common units and 3 million new Class B units, plus $135 million in cash payable in installments through 2022.
30 Jan 2020quarterly activities report▼ Bad
CNX Resources Corp reported quarterly revenue of $504.7 million and a net loss of $271.4 million for the period ended 2019-12-31.
29 Oct 2019material agreement● Neutral
CNX amended its credit agreement again, raising its borrowing base from $2.1 billion to $2.3 billion and reaffirming the carve-out allowing Southeastern Asset Management to hold up to 40% of its stock.
29 Oct 2019quarterly activities report● Neutral
CNX Resources Corp reported quarterly revenue of $530.0 million and net income of $115.5 million for the period ended 2019-09-30.
30 July 2019quarterly activities report● Neutral
CNX Resources Corp reported quarterly revenue of $605.0 million and net income of $162.5 million for the period ended 2019-06-30.
10 July 2019substantial holder notice● Neutral
BlackRock, Inc reported a CNX Resources Corp shareholding of 22,888,655 shares (11.70% of votes) in a periodic institutional filing.
10 June 2019substantial holder notice● Neutral
Southeastern Asset Management, Inc. I.D. No, Longleaf Partners Fund I.D. No, Longleaf Partners Small-Cap Fund I.D. No, O. Mason Hawkins I.D. No. XXX-XX-XXXX reported a CNX Resources Corp shareholding of 57,306,881 shares (29.30% of votes) in a periodic institutional filing.
30 Apr 2019quarterly activities report▼ Bad
CNX Resources Corp reported quarterly revenue of $278.4 million and a net loss of $87.3 million for the period ended 2019-03-31.
30 Apr 2019debt financing● Neutral
CNX amended its credit agreement to extend the maturity to April 24, 2024 and reaffirm the $2.1 billion borrowing base until the next redetermination. The amendment also replaced the cumulative dividend basket with a leverage-based one and lowered the interest rate.
14 Mar 2019debt financing▼ BadMajor
CNX closed a $500 million private offering of 7.25% senior notes due 2027. It planned to use the proceeds to buy up to $400 million of its 5.875% notes due 2022 and repay revolving credit facility debt.
4 Mar 2019material agreement● Neutral
CNX obtained a waiver from its credit-facility lenders to issue up to $650 million of unsecured notes without a borrowing-base cut, and launched a tender offer for up to $400 million of its 5.875% 2022 notes.
14 Feb 2019substantial holder notice● Neutral
Greenlight Capital, Inc, DME Advisors, LP, DME Capital Management, LP, DME Advisors GP, LLC, David Einhorn reported a CNX Resources Corp shareholding of 3,490,100 shares (1.70% of votes) in a periodic institutional filing.
14 Feb 2019substantial holder notice● Neutral
Southeastern Asset Management, Inc. I.D. No, Longleaf Partners Fund I.D. No, Longleaf Partners Small-Cap Fund I.D. No, O. Mason Hawkins I.D. No. XXX-XX-XXXX reported a CNX Resources Corp shareholding of 49,021,695 shares (24.10% of votes) in a periodic institutional filing.
11 Feb 2019substantial holder notice● Neutral
The Vanguard Group reported a CNX Resources Corp shareholding of 13,722,647 shares (6.74% of votes) in a periodic institutional filing.
4 Feb 2019substantial holder notice● Neutral
BlackRock, Inc reported a CNX Resources Corp shareholding of 18,408,505 shares (9.00% of votes) in a periodic institutional filing.
31 Jan 2019quarterly activities report● Neutral
CNX Resources Corp reported quarterly revenue of $431.7 million and net income of $101.9 million for the period ended 2018-12-31.
30 Oct 2018quarterly activities report● Neutral
CNX Resources Corp reported quarterly revenue of $393.2 million and net income of $125.0 million for the period ended 2018-09-30.
30 Oct 2018quarterly activities report● Neutral
CNX Resources Corp reported quarterly revenue of $393.2 million and net income of $125.0 million for the period ended 2018-09-30.
31 Aug 2018asset acquisition disposition▲ GoodMajor
CNX closed the roughly $400 million sale of its Ohio Utica joint-venture assets to Ascent Resources.
2 Aug 2018quarterly activities report● Neutral
CNX Resources Corp reported quarterly revenue of $393.6 million and net income of $42.0 million for the period ended 2018-06-30.
2 Aug 2018substantial holder notice● Neutral
Southeastern Asset Management, Inc. I.D. No, Longleaf Partners Small-Cap Fund I.D. No, O. Mason Hawkins I.D. No. XXX-XX-XXXX disclosed a new substantial CNX Resources Corp shareholding (22.60% of votes).
2 Aug 2018quarterly activities report● Neutral
CNX Resources Corp reported quarterly revenue of $393.6 million and net income of $42.0 million for the period ended 2018-06-30.
29 June 2018material agreement▲ GoodMajor
CNX agreed to sell its Ohio Utica Shale joint-venture assets, held together with Hess Corporation, to Ascent Resources for about $400 million net cash, exiting a wet-gas area it judged less attractive than its core opportunities.