CNX Resources Corp (NYSE:CNX) – Investment analysts at SunTrust Banks cut their Q1 2018 earnings per share estimates for CNX Resources in a research note issued on Wednesday. SunTrust Banks analyst W. Fitzpatrick now anticipates that the oil and gas producer will post earnings per share of $0.10 for the quarter, down from their previous estimate of $0.11. SunTrust Banks has a “Buy” rating on the stock. SunTrust Banks also issued estimates for CNX Resources’ Q2 2018 earnings at ($0.08) EPS, Q3 2018 earnings at $0.01 EPS, FY2018 earnings at $0.04 EPS, Q1 2019 earnings at $0.02 EPS, Q2 2019 earnings at ($0.05) EPS and FY2019 earnings at ($0.11) EPS.
CNX Resources (NYSE:CNX) last issued its quarterly earnings results on Tuesday, January 30th. The oil and gas producer reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. The company had revenue of $333.30 million during the quarter, compared to the consensus estimate of $331.76 million. CNX Resources had a return on equity of 1.36% and a net margin of 14.03%. CNX Resources’s revenue was up 19.0% on a year-over-year basis. During the same period last year, the company earned ($1.33) earnings per share.
Shares of CNX Resources (NYSE:CNX) opened at $12.58 on Monday. The stock has a market capitalization of $2,810.00, a price-to-earnings ratio of 7.49 and a beta of 1.49. CNX Resources has a 52-week low of $11.35 and a 52-week high of $15.51. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.93 and a quick ratio of 0.86.
CNX Resources declared that its Board of Directors has approved a stock repurchase plan on Tuesday, October 31st that permits the company to buyback $369.00 million in outstanding shares. This buyback authorization permits the oil and gas producer to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.
A number of hedge funds have recently added to or reduced their stakes in CNX. Point72 Asset Management L.P. increased its stake in CNX Resources by 246.8% in the third quarter. Point72 Asset Management L.P. now owns 3,036,902 shares of the oil and gas producer’s stock worth $51,445,000 after purchasing an additional 2,161,302 shares during the period. Prudential Financial Inc. increased its stake in CNX Resources by 184.5% in the third quarter. Prudential Financial Inc. now owns 2,943,572 shares of the oil and gas producer’s stock worth $49,864,000 after purchasing an additional 1,909,019 shares during the period. JPMorgan Chase & Co. increased its stake in CNX Resources by 224.5% in the third quarter. JPMorgan Chase & Co. now owns 1,939,209 shares of the oil and gas producer’s stock worth $31,939,000 after purchasing an additional 1,341,595 shares during the period. ANTIPODES PARTNERS Ltd increased its stake in shares of CNX Resources by 42.9% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 4,384,926 shares of the oil and gas producer’s stock valued at $64,151,000 after buying an additional 1,316,915 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of CNX Resources by 13.8% during the third quarter. Dimensional Fund Advisors LP now owns 10,802,888 shares of the oil and gas producer’s stock valued at $182,996,000 after buying an additional 1,308,911 shares during the period. Institutional investors and hedge funds own 96.83% of the company’s stock.
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CNX Resources Company Profile
CNX Resources Corp., formerly CONSOL Energy Inc, is an integrated energy company. The Company’s divisions include Exploration and Production (E&P), Pennsylvania (PA) Mining Operations and Other. The E&P division operates through four segments: Marcellus Shale, Utica Shale, Coalbed Methane (CBM) and Other Gas, which produce pipeline quality natural gas for sale primarily to gas wholesalers.
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