Capital One Financial Weighs in on CNX Resources Co.’s Q2 2024 Earnings (NYSE:CNX)

CNX Resources Co. (NYSE:CNX) – Analysts at Capital One Financial dropped their Q2 2024 earnings estimates for CNX Resources in a research report issued on Monday, April 15th. Capital One Financial analyst B. Velie now anticipates that the oil and gas producer will post earnings per share of $0.34 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.

A number of other research analysts have also recently weighed in on the stock. Truist Financial lifted 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. Mizuho upped their price objective 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. Scotiabank upped their price target on shares of CNX Resources from $20.00 to $25.00 and gave the stock a “sector underperform” rating in a research note on Thursday, April 11th. Piper Sandler increased their price objective 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. Finally, Roth Mkm raised their price target on shares of CNX Resources from $18.00 to $22.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $23.86.

CNX Resources Trading Up 0.2 %

Shares of CNX stock opened at $23.83 on Tuesday. 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 market capitalization of $3.65 billion, a P/E ratio of 2.62 and a beta of 1.33. The company has a 50 day moving average price of $21.93 and a 200 day moving average price of $21.30. CNX Resources has a fifty-two week low of $14.36 and a fifty-two week high of $24.82.

CNX Resources (NYSE:CNX) last released its quarterly earnings results on Thursday, January 25th. The oil and gas producer reported $2.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $2.59. The business had revenue of $999.50 million for the quarter, compared to the consensus estimate of $401.62 million. CNX Resources had a net margin of 50.34% and a return on equity of 9.00%. The business’s revenue was down 38.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.64 EPS.

Insider Buying and Selling at CNX Resources

In other news, EVP Timothy Scott Bedard sold 1,226 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 67,982 shares of the company’s stock, valued at $1,416,065.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.65% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CNX Resources

A number of hedge funds have recently added to or reduced their stakes in CNX. Neo Ivy Capital Management bought a new stake in shares of CNX Resources during the third quarter valued at about $26,000. BluePath Capital Management LLC acquired a new stake in CNX Resources during the 3rd quarter worth about $32,000. Castleview Partners LLC acquired a new stake in CNX Resources during the 3rd quarter worth about $41,000. KBC Group NV acquired a new position in shares of CNX Resources in the 4th quarter valued at about $44,000. Finally, Adirondack Trust Co. acquired a new position in shares of CNX Resources in the 3rd quarter valued at about $54,000. 95.16% of the stock is currently owned by institutional investors.

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.