CNX Resources (CNX) Scheduled to Post Quarterly Earnings on Thursday

CNX Resources (NYSE:CNX) is scheduled to issue its quarterly earnings data before the market opens on Thursday, April 25th. Analysts expect the company to announce earnings of $0.41 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

CNX Resources (NYSE:CNX) last announced its quarterly earnings results on Thursday, January 25th. The oil and gas producer reported $2.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $2.59. The company had revenue of $999.50 million for 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 for the quarter was down 38.9% on a year-over-year basis. During the same quarter last year, the business earned $1.64 EPS. On average, analysts expect CNX Resources to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

CNX Resources Stock Up 0.1 %

Shares of CNX opened at $23.85 on Thursday. The company’s fifty day moving average is $22.00 and its two-hundred day moving average is $21.32. CNX Resources has a fifty-two week low of $14.36 and a fifty-two week high of $24.82. 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 firm has a market cap of $3.65 billion, a PE ratio of 2.62 and a beta of 1.33.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CNX shares. Truist Financial raised their target price on shares of CNX Resources from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Scotiabank raised their target price on shares of CNX Resources from $20.00 to $25.00 and gave the company a “sector underperform” rating in a research note on Thursday, April 11th. Mizuho raised their target price on shares of CNX Resources from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Roth Mkm raised their target price on shares of CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Finally, Piper Sandler raised their target price on shares of CNX Resources from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, March 7th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $23.86.

Insider Transactions at CNX Resources

In other news, EVP Timothy Scott Bedard sold 1,226 shares of the business’s stock in a transaction dated 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 owns 67,982 shares of the company’s stock, valued at approximately $1,416,065.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.65% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Franklin Resources Inc. boosted its stake in CNX Resources by 4.1% during the 2nd quarter. Franklin Resources Inc. now owns 13,618 shares of the oil and gas producer’s stock valued at $241,000 after purchasing an additional 540 shares during the period. HighTower Advisors LLC boosted its stake in CNX Resources by 4.8% during the 1st quarter. HighTower Advisors LLC now owns 14,676 shares of the oil and gas producer’s stock valued at $234,000 after purchasing an additional 666 shares during the period. Royal Bank of Canada boosted its stake in CNX Resources by 1.0% during the 2nd quarter. Royal Bank of Canada now owns 80,851 shares of the oil and gas producer’s stock valued at $1,433,000 after purchasing an additional 817 shares during the period. First National Bank of Omaha boosted its stake in CNX Resources by 0.6% during the 2nd quarter. First National Bank of Omaha now owns 136,264 shares of the oil and gas producer’s stock valued at $2,415,000 after purchasing an additional 833 shares during the period. Finally, Verition Fund Management LLC boosted its stake in CNX Resources by 5.6% during the 4th quarter. Verition Fund Management LLC now owns 16,972 shares of the oil and gas producer’s stock valued at $286,000 after purchasing an additional 903 shares during the period. 95.16% of the stock is owned by institutional investors and hedge funds.

CNX Resources Company Profile

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.