CNX Resources Co. (NYSE:CNX) Expected to Post Q3 2024 Earnings of $0.39 Per Share

CNX Resources Co. (NYSE:CNX) – Analysts at Capital One Financial lifted their Q3 2024 earnings estimates for shares of CNX Resources in a note issued to investors on Tuesday, April 30th. Capital One Financial analyst B. Velie now anticipates that the oil and gas producer will post earnings per share of $0.39 for the quarter, up from their previous forecast of $0.35. The consensus estimate for CNX Resources’ current full-year earnings is $1.35 per share.

Several other research analysts have also recently commented on the company. Roth Mkm increased their price target on CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. Scotiabank boosted their target price on shares of CNX Resources from $20.00 to $25.00 and gave the stock a “sector underperform” rating in a report on Thursday, April 11th. Piper Sandler increased their price target on shares of CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, April 19th. Bank of America upgraded shares of CNX Resources from an “underperform” rating to a “neutral” rating and set a $23.00 price objective on the stock in a research note on Friday, January 5th. Finally, Mizuho lifted their price target on CNX Resources from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $24.43.

CNX Resources Stock Up 0.4 %

Shares of CNX stock opened at $23.29 on Friday. The firm’s fifty day moving average price is $22.84 and its two-hundred day moving average price is $21.44. CNX Resources has a 1 year low of $14.41 and a 1 year high of $24.82. The company has a current ratio of 0.53, a quick ratio of 0.51 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $3.57 billion, a P/E ratio of 4.22 and a beta of 1.36.

Insiders Place Their Bets

In other news, EVP Timothy Scott Bedard sold 1,226 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $20.83, for a total transaction of $25,537.58. Following the transaction, the executive vice president now owns 67,982 shares in the company, valued at $1,416,065.06. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On CNX Resources

Several institutional investors and hedge funds have recently modified their holdings of CNX. Neo Ivy Capital Management acquired a new position in shares of CNX Resources during the 3rd quarter worth approximately $26,000. BluePath Capital Management LLC bought a new position in CNX Resources during the 3rd quarter worth $32,000. Castleview Partners LLC acquired a new position in CNX Resources in the 3rd quarter valued at $41,000. Hexagon Capital Partners LLC raised its holdings in CNX Resources by 113.4% in the 1st quarter. Hexagon Capital Partners LLC now owns 2,138 shares of the oil and gas producer’s stock valued at $51,000 after acquiring an additional 1,136 shares in the last quarter. Finally, Adirondack Trust Co. bought a new stake in shares of CNX Resources during the 3rd quarter valued at $54,000. 95.16% of the stock is currently 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.