Q2 2024 EPS Estimates for CNX Resources Co. Lowered by Analyst (NYSE:CNX)

CNX Resources Co. (NYSE:CNX - Free Report) - Equities researchers at Capital One Financial decreased their Q2 2024 EPS estimates for shares of CNX Resources in a research report issued to clients and investors on Monday, April 15th. Capital One Financial analyst B. Velie now anticipates that the oil and gas producer will post earnings of $0.34 per share for the quarter, down from their previous estimate of $0.35. The consensus estimate for CNX Resources' current full-year earnings is $1.31 per share. Capital One Financial also issued estimates for CNX Resources' Q4 2024 earnings at $0.36 EPS and FY2024 earnings at $1.41 EPS.

Several other research firms have also commented on CNX. Piper Sandler boosted their price objective on shares of CNX Resources from $17.00 to $18.00 and gave the stock a "neutral" rating in a research note on Thursday, March 7th. Truist Financial boosted their target price on shares of CNX Resources from $28.00 to $30.00 and gave the stock a "buy" rating in a research report on Friday, April 5th. Bank of America raised shares of CNX Resources from an "underperform" rating to a "neutral" rating and set a $23.00 target price on the stock in a research report on Friday, January 5th. Mizuho boosted their target price on shares of CNX Resources from $24.00 to $25.00 and gave the stock a "neutral" rating in a research report on Thursday, April 11th. Finally, Scotiabank boosted their target price on shares of CNX Resources from $20.00 to $25.00 and gave the stock a "sector underperform" rating in a research report on Thursday, April 11th. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $23.86.

CNX Resources Stock Up 0.2 %

Shares of NYSE CNX traded up $0.05 during trading hours on Tuesday, hitting $23.83. 2,383,261 shares of the stock were exchanged, compared to its average volume of 3,006,114. The company has a quick ratio of 0.49, a current ratio of 0.51 and a debt-to-equity ratio of 0.43. The company has a market cap of $3.65 billion, a PE ratio of 2.62 and a beta of 1.33. The firm has a fifty day moving average price of $21.93 and a 200-day moving average price of $21.30. CNX Resources has a 12 month low of $14.36 and a 12 month high of $24.82.

CNX Resources (NYSE:CNX - Get Free Report) last posted its quarterly earnings data on Thursday, January 25th. The oil and gas producer reported $2.89 EPS for the quarter, topping the consensus estimate of $0.30 by $2.59. The firm had revenue of $999.50 million during the quarter, compared to analyst estimates of $401.62 million. CNX Resources had a net margin of 50.34% and a return on equity of 9.00%. CNX Resources's revenue was down 38.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.64 EPS.

Institutional Trading of CNX Resources

A number of hedge funds have recently added to or reduced their stakes in CNX. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in CNX Resources by 6.0% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 74,211 shares of the oil and gas producer's stock worth $1,538,000 after buying an additional 4,188 shares in the last quarter. Great West Life Assurance Co. Can raised its position in CNX Resources by 7.2% during the first quarter. Great West Life Assurance Co. Can now owns 117,180 shares of the oil and gas producer's stock worth $2,502,000 after acquiring an additional 7,871 shares during the period. Sei Investments Co. raised its position in CNX Resources by 7.8% during the first quarter. Sei Investments Co. now owns 249,181 shares of the oil and gas producer's stock worth $5,208,000 after acquiring an additional 17,930 shares during the period. Canada Pension Plan Investment Board raised its position in CNX Resources by 39.2% during the first quarter. Canada Pension Plan Investment Board now owns 104,255 shares of the oil and gas producer's stock worth $2,160,000 after acquiring an additional 29,348 shares during the period. Finally, Allianz Asset Management GmbH raised its position in CNX Resources by 26.2% during the first quarter. Allianz Asset Management GmbH now owns 53,619 shares of the oil and gas producer's stock worth $1,111,000 after acquiring an additional 11,142 shares during the period. 95.16% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Timothy Scott Bedard sold 1,226 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $20.83, for a total transaction of $25,537.58. Following the sale, the executive vice president now directly owns 67,982 shares of the company's stock, valued at $1,416,065.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.65% of the company's stock.

About CNX Resources

CNX Resources Corporation, an independent natural gas and midstream company, engages in the acquisition, exploration, development, and production of natural gas properties in the Appalachian Basin. The company operates in two segments, Shale and Coalbed Methane (CBM). It produces and sells pipeline quality natural gas primarily for gas wholesalers.