CNX Resources Co. (NYSE:CNX - Free Report) - Investment analysts at Roth Capital lowered their Q2 2024 EPS estimates for CNX Resources in a research note issued on Wednesday, April 24th. Roth Capital analyst L. Mariani now expects that the oil and gas producer will post earnings of $0.16 per share for the quarter, down from their previous forecast of $0.24. The consensus estimate for CNX Resources' current full-year earnings is $1.29 per share. Roth Capital also issued estimates for CNX Resources' Q3 2024 earnings at $0.13 EPS, Q4 2024 earnings at $0.20 EPS, Q1 2025 earnings at $0.47 EPS, Q2 2025 earnings at $0.28 EPS, Q3 2025 earnings at $0.26 EPS and FY2025 earnings at $1.40 EPS.
CNX Resources (NYSE:CNX - Get Free Report) last released its quarterly earnings data on Thursday, January 25th. The oil and gas producer reported $2.89 earnings per share for the quarter, beating the consensus estimate of $0.30 by $2.59. CNX Resources had a net margin of 50.34% and a return on equity of 9.00%. The firm had revenue of $999.50 million during the quarter, compared to analysts' expectations of $401.62 million. During the same period in the previous year, the company earned $1.64 earnings per share. The firm's quarterly revenue was down 38.9% on a year-over-year basis.
Several other research analysts have also recently weighed in on CNX. Truist Financial boosted their price objective on shares of CNX Resources from $28.00 to $30.00 and gave the company a "buy" rating in a 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 for the company in a report on Friday, January 5th. Scotiabank upped their target price on shares of CNX Resources from $20.00 to $25.00 and gave the company a "sector underperform" rating in a report on Thursday, April 11th. Piper Sandler upped their target price on shares of CNX Resources from $18.00 to $22.00 and gave the company a "neutral" rating in a report on Friday, April 19th. Finally, Mizuho upped their target price on shares of CNX Resources from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Thursday, April 11th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $24.43.
Read Our Latest Research Report on CNX
CNX Resources Stock Performance
Shares of CNX traded up $0.06 during mid-day trading on Friday, hitting $24.01. 2,522,106 shares of the company traded hands, compared to its average volume of 2,967,365. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.49 and a current ratio of 0.51. The stock has a 50-day moving average price of $22.51 and a two-hundred day moving average price of $21.41. CNX Resources has a 1 year low of $14.36 and a 1 year high of $24.82. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of 2.61 and a beta of 1.33.
Hedge Funds Weigh In On CNX Resources
Hedge funds and other institutional investors have recently modified their holdings of the stock. Algert Global LLC bought a new position in shares of CNX Resources during the third quarter worth $350,000. QRG Capital Management Inc. bought a new position in shares of CNX Resources during the third quarter worth $3,542,000. Comerica Bank bought a new position in shares of CNX Resources during the third quarter worth $4,054,000. Stifel Financial Corp boosted its position in shares of CNX Resources by 444.1% during the third quarter. Stifel Financial Corp now owns 137,247 shares of the oil and gas producer's stock worth $3,099,000 after acquiring an additional 112,023 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of CNX Resources during the third quarter worth $1,343,000. Institutional investors own 95.16% of the company's stock.
Insider Transactions at CNX Resources
In other 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 value of $25,537.58. Following the completion of 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 filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.10% of the company's stock.
About CNX Resources
(
Get Free Report)
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.
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