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

CNX Resources (NYSE:CNX) is scheduled to announce its earnings results before the market opens on Thursday, October 24th. Analysts expect the company to announce earnings of $0.31 per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

CNX Resources (NYSE:CNX) last issued its quarterly earnings data on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.09. The firm had revenue of $321.44 million during the quarter, compared to analyst estimates of $387.46 million. CNX Resources had a return on equity of 7.51% and a net margin of 26.64%. During the same quarter last year, the business posted $0.29 earnings per share. 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 3.7 %

NYSE CNX opened at $35.36 on Thursday. The stock has a 50 day moving average price of $29.55 and a 200-day moving average price of $26.40. CNX Resources has a one year low of $19.07 and a one year high of $36.96. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.40 and a current ratio of 0.41. The company has a market capitalization of $5.42 billion, a P/E ratio of 6.40 and a beta of 1.38.

Insider Buying and Selling

In related news, Director Bernard Lanigan, Jr. acquired 75,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was purchased at an average cost of $26.81 per share, for a total transaction of $2,010,750.00. Following the purchase, the director now directly owns 401,820 shares of the company’s stock, valued at $10,772,794.20. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 3.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on CNX shares. Tudor Pickering raised shares of CNX Resources to a “strong sell” rating in a research note on Tuesday, October 1st. BMO Capital Markets lifted their target price on CNX Resources from $26.00 to $29.00 and gave the stock a “market perform” rating in a report on Friday, October 4th. Piper Sandler downgraded CNX Resources from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $22.00 to $20.00 in a research report on Thursday, August 15th. JPMorgan Chase & Co. lifted their price objective on shares of CNX Resources from $26.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Finally, Truist Financial increased their target price on shares of CNX Resources from $31.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $27.10.

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.