Utility Tuesday: 9.5/10 Score, 11% ROIC, 383k Insider Shares in Gas

This Week's Setup

This week's energy screen pairs double-digit ROIC and high single-digit FCF yields with insider lines that run into the millions of dollars across Appalachia and Permian names.

CNX and Devon still split growth versus quality, EQT keeps the revenue acceleration story, FSLR offers the renewables manufacturing angle on a 33% drawdown, and COP, XOM, VLO, and BKR fill out majors, refining, and oilfield services with coverage metrics that look bond-like next to commodity beta.

The 8 Names

1. CNX Resources Corporation (CNX)

Stock Pixie Score 9.5/10 | ROIC 11.1% | FCF yield 9.4% | P/E 10.05

The 9.5/10 Stock Pixie Score (a composite of valuation, income quality, and price recovery signals) reflects a natural gas producer trading at 10× earnings while throwing off 9.4% free cash flow yield and 11.1% ROIC. Revenue jumped 48.9% year-over-year, gross margin stands at 47.2%, and the earnings yield of 10.0% beats the normalized 10-year average by 563 basis points.

Insiders bought a net 383,371 shares over the past six months, including a March 25 purchase by Maureen Lally-Green. Seven percent of insider transactions were buys, 1.1% sells.

Analysts see 5.3% downside to their $37.86 consensus target, short interest sits at 13.3% of float, and net debt is 1.78× EBITDA. The setup here is an 8% drawdown, extreme fear, and insider accumulation in a stock generating double-digit ROIC; the risk is continued natural gas price weakness if industrial demand softens.

2. Devon Energy Corporation (DVN)

Stock Pixie Score 8.5/10 | ROIC 13.7% | FCF yield 8.7% | Dividend yield 1.9%

Devon delivers 8.7% free cash flow yield, 13.7% ROIC, and trades at 12.4× earnings while sitting just 1.4% below its 52-week high. Interest coverage is 8.0×, net debt is under 1× EBITDA, and analysts see 7.8% upside to the $55.73 consensus target.

Revenue growth of 7.8% year-over-year lags CNX's 48.9%, gross margin is 25.6% versus CNX's 47.2%, and the normalized 10-year earnings yield at 3.8% shows less historical earnings power than the current 8.1% figure.

The stock is near its all-time high; volatility or a sharp crude selloff leaves limited downside cushion. Insider activity netted zero shares over six months despite a 5.00 score, signaling no conviction from management at current levels.

3. First Solar, Inc. (FSLR)

Stock Pixie Score 7.7/10 | ROIC 17.5% | P/E 13.39 | 33% drawdown

First Solar trades 33% below its 52-week high, analysts see 31.8% upside to $250.57, and the company delivers 17.5% ROIC with 40.6% gross margin. Revenue grew 24.1% year-over-year, free cash flow yield is 5.8%, and net debt is negative (the company is net cash).

Insiders sold a net 13,672 shares over six months, with recent transactions from Kuntal Kumar Verma on March 11, Nathan B. Theurer on March 11, and Markus Gloeckler on March 3. The 1.9% buy rate and 2.1% sell rate signal minor net selling, not panic.

The normalized 10-year earnings yield at 3.2% versus the current 7.5% shows cyclical peak earnings risk. Recent news flags weakened guidance as tariff reviews reshape production plans, and short interest at 7.7% suggests a crowded bearish position.

Solar manufacturers live or die by policy and commodity input costs; any shift in U.S. domestic content requirements or polysilicon pricing can crater margins.

4. EQT Corporation (EQT)

Stock Pixie Score 7.6/10 | Revenue growth 60.0% YoY | FCF yield 7.0%

EQT posted 60.0% year-over-year revenue growth, 7.0% free cash flow yield, and 8.6% ROIC with 43.2% gross margin. The stock sits 5.4% below its 52-week peak, and analysts see 4.8% upside to $67.65.

Insiders bought a net 508,488 shares over six months; 14.2% of transactions were buys, 3.2% sells. Recent Form 4 activity includes purchases by Sarah Fenton on March 18, Jeremy Knop on March 3, and Lesley Evancho on March 5. Europe's LNG refill race is flagged in recent coverage as a tailwind for U.S. natural gas exports.

The normalized 10-year earnings yield at 0.8% versus the current 5.1% shows this is not a structurally high-margin business; EQT benefits from a cyclical gas price window. Net debt is 1.28× EBITDA, and interest coverage of 7.8× is adequate but not fortress-grade.

Natural gas spot price moves can erase the 7% free cash flow yield in a single quarter if Henry Hub drops below breakeven for Appalachian producers.

5. EOG Resources, Inc. (EOG)

Stock Pixie Score 7.3/10 | ROIC 14.7% | Gross margin 63.4%

EOG generates 14.7% ROIC with a 63.4% gross margin, the highest in this week's top eight. Free cash flow yield is 4.3%, dividend yield is 2.7%, and the company sits just 0.8% below its 52-week high. Interest coverage is 28.1×, and net debt is under 0.5× EBITDA.

Insiders bought a net 117,509 shares over six months; 9.4% of transactions were buys, 0.9% sells. Recent Form 4 activity includes purchases by Michael P Donaldson, Ezra Y Yacob, and Jeffrey R. Leitzell, all on March 3.

Revenue declined 3.4% year-over-year, analysts see 3.3% downside to the $145.10 consensus target, and the normalized 10-year earnings yield at 1.8% versus the current 6.1% signals cyclical peak risk. The 1-year price trend is flat at -0.01%.