FY2024 EPS Estimates for CNX Resources Co. Boosted by Analyst (NYSE:CNX)

CNX Resources Co. (NYSE:CNX) – Investment analysts at Capital One Financial lifted their FY2024 earnings per share estimates for CNX Resources in a report released on Tuesday, September 17th. Capital One Financial analyst B. Velie now anticipates that the oil and gas producer will earn $1.64 per share for the year, up from their prior estimate of $1.56. The consensus estimate for CNX Resources’ current full-year earnings is $1.47 per share. Capital One Financial also issued estimates for CNX Resources’ Q4 2024 earnings at $0.51 EPS.

A number of other research firms also recently commented on CNX. JPMorgan Chase & Co. lifted their price target on CNX Resources from $26.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Truist Financial boosted their price target on CNX Resources from $30.00 to $31.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Piper Sandler downgraded shares of CNX Resources from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $22.00 to $20.00 in a report on Thursday, August 15th. Scotiabank increased their target price on shares of CNX Resources from $25.00 to $27.00 and gave the stock a “sector underperform” rating in a report on Tuesday, August 20th. Finally, Mizuho raised their price target on shares of CNX Resources from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.13.

CNX Resources Price Performance

Shares of CNX stock opened at $29.41 on Thursday. The firm has a market cap of $4.51 billion, a P/E ratio of 5.31 and a beta of 1.37. The firm has a fifty day moving average of $26.47 and a two-hundred day moving average of $24.82. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.41 and a quick ratio of 0.40. CNX Resources has a 1-year low of $19.07 and a 1-year high of $29.63.

CNX Resources (NYSE:CNX) last released its quarterly earnings results on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.09. The business had revenue of $321.44 million during the quarter, compared to the consensus estimate of $387.46 million. CNX Resources had a net margin of 26.64% and a return on equity of 7.51%. During the same quarter last year, the company earned $0.29 earnings per share.

Insider Activity

In other news, Director Bernard Lanigan, Jr. acquired 75,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were purchased at an average cost of $26.81 per share, for a total transaction of $2,010,750.00. Following the transaction, the director now directly owns 401,820 shares in the company, valued at approximately $10,772,794.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Pullen Investment Management LLC raised its holdings in CNX Resources by 2.3% during the second quarter. Pullen Investment Management LLC now owns 27,399 shares of the oil and gas producer’s stock worth $666,000 after purchasing an additional 623 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of CNX Resources by 54.1% in the second quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock valued at $46,000 after buying an additional 666 shares during the period. Riverwater Partners LLC boosted its stake in CNX Resources by 1.0% during the first quarter. Riverwater Partners LLC now owns 65,673 shares of the oil and gas producer’s stock valued at $1,558,000 after buying an additional 676 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in CNX Resources by 3.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 29,307 shares of the oil and gas producer’s stock worth $712,000 after acquiring an additional 941 shares during the period. Finally, Congress Asset Management Co. MA raised its position in CNX Resources by 0.4% in the fourth quarter. Congress Asset Management Co. MA now owns 265,558 shares of the oil and gas producer’s stock worth $5,311,000 after acquiring an additional 945 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

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.