Q3 2018 Earnings Forecast for CNX Resources Corp (CNX) Issued By Jefferies Group

CNX Resources Corp (NYSE:CNX) – Analysts at Jefferies Group upped their Q3 2018 earnings estimates for CNX Resources in a report issued on Tuesday. Jefferies Group analyst Z. Parham now forecasts that the oil and gas producer will post earnings per share of $0.11 for the quarter, up from their prior estimate of $0.07. Jefferies Group also issued estimates for CNX Resources’ Q4 2018 earnings at $0.16 EPS, FY2018 earnings at $0.49 EPS, Q1 2019 earnings at $0.27 EPS, Q2 2019 earnings at $0.23 EPS and Q4 2019 earnings at $0.25 EPS.

Other equities research analysts have also issued research reports about the stock. SunTrust Banks raised shares of CNX Resources from a “hold” rating to a “buy” rating in a research report on Thursday, December 7th. Seaport Global Securities initiated coverage on shares of CNX Resources in a research report on Thursday, November 30th. They set a “buy” rating and a $32.00 price target for the company. Stifel Nicolaus initiated coverage on shares of CNX Resources in a research report on Thursday, November 30th. They set a “buy” rating and a $32.00 price target for the company. B. Riley initiated coverage on shares of CNX Resources in a research report on Tuesday, November 21st. They set a “buy” rating and a $32.00 price target for the company. Finally, Scotiabank set a $21.00 price target on shares of CNX Resources and gave the company a “hold” rating in a research report on Monday, November 13th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $23.00.

Shares of CNX Resources (CNX) opened at $13.34 on Wednesday. CNX Resources has a 52-week low of $11.29 and a 52-week high of $15.51. The company has a market cap of $2,915.57, a PE ratio of 8.04 and a beta of 1.49. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.91 and a current ratio of 1.93.

CNX Resources (NYSE:CNX) last released its quarterly earnings results on Tuesday, January 30th. The oil and gas producer reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.06. CNX Resources had a net margin of 14.03% and a return on equity of 1.36%. The firm had revenue of $333.30 million during the quarter, compared to analyst estimates of $331.76 million. During the same quarter in the prior year, the firm earned ($1.33) EPS. The business’s revenue for the quarter was up 19.0% compared to the same quarter last year.

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in CNX Resources by 1.7% in the 4th quarter. BlackRock Inc. now owns 17,152,984 shares of the oil and gas producer’s stock worth $250,947,000 after acquiring an additional 284,261 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in CNX Resources by 13.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 10,802,888 shares of the oil and gas producer’s stock worth $182,996,000 after acquiring an additional 1,308,911 shares in the last quarter. Van ECK Associates Corp increased its holdings in CNX Resources by 2.0% in the 3rd quarter. Van ECK Associates Corp now owns 5,874,962 shares of the oil and gas producer’s stock worth $99,522,000 after acquiring an additional 113,594 shares in the last quarter. ANTIPODES PARTNERS Ltd increased its holdings in CNX Resources by 42.9% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 4,384,926 shares of the oil and gas producer’s stock worth $64,151,000 after acquiring an additional 1,316,915 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in CNX Resources by 246.8% in the 3rd 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 acquiring an additional 2,161,302 shares in the last quarter. 96.83% of the stock is owned by institutional investors.

CNX Resources announced that its board has initiated a stock buyback program on Tuesday, October 31st that permits the company to repurchase $369.00 million in shares. This repurchase authorization permits the oil and gas producer to purchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

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About CNX Resources

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.

Earnings History and Estimates for CNX Resources (NYSE:CNX)

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