Analysts Offer Predictions for CNX Resources Co.’s FY2024 Earnings (NYSE:CNX)

CNX Resources Co. (NYSE:CNX) – Equities researchers at Capital One Financial cut their FY2024 earnings per share estimates for CNX Resources in a research note issued to investors on Monday, October 14th. Capital One Financial analyst B. Velie now anticipates that the oil and gas producer will post earnings per share of $1.63 for the year, down from their previous estimate of $1.64. Capital One Financial currently has a “Equal Weight” rating and a $25.00 target price on the stock. The consensus estimate for CNX Resources’ current full-year earnings is $1.43 per share. Capital One Financial also issued estimates for CNX Resources’ Q2 2025 earnings at $0.52 EPS, Q3 2025 earnings at $0.55 EPS, FY2025 earnings at $2.17 EPS and FY2026 earnings at $3.05 EPS.

A number of other research firms have also recently weighed in on CNX. JPMorgan Chase & Co. raised their price target on shares of CNX Resources from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. BMO Capital Markets lifted their target price on shares of CNX Resources from $26.00 to $29.00 and gave the stock a “market perform” rating in a research note on Friday, October 4th. StockNews.com cut shares of CNX Resources from a “hold” rating to a “sell” rating in a report on Saturday, August 3rd. Tudor Pickering raised CNX Resources to a “strong sell” rating in a research report on Tuesday, October 1st. Finally, Mizuho lifted their price target on CNX Resources from $32.00 to $33.00 and gave the stock a “neutral” rating in a research report on Monday. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $27.10.

CNX Resources Trading Down 2.8 %

Shares of NYSE CNX opened at $34.08 on Wednesday. The stock has a market capitalization of $5.22 billion, a P/E ratio of 6.17 and a beta of 1.38. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.41 and a quick ratio of 0.40. The business has a fifty day moving average price of $29.34 and a 200 day moving average price of $26.34. CNX Resources has a 1-year low of $19.07 and a 1-year high of $36.96.

CNX Resources (NYSE:CNX) last announced its quarterly earnings results on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.09. The firm had revenue of $321.44 million during the quarter, compared to analysts’ expectations 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 in the prior year, the company earned $0.29 EPS.

Insider Activity at CNX Resources

In other CNX Resources news, Director Bernard Lanigan, Jr. purchased 75,000 shares of the stock in a transaction on Monday, September 9th. The shares were bought at an average price of $26.81 per share, for a total transaction of $2,010,750.00. Following the completion of the transaction, the director now 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 transaction was disclosed in a document filed with the SEC, which is available through this link. 3.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Mizuho Markets Americas LLC purchased a new position in CNX Resources during the second quarter valued at $97,200,000. American Century Companies Inc. lifted its holdings in CNX Resources by 12.0% in the 2nd quarter. American Century Companies Inc. now owns 3,699,186 shares of the oil and gas producer’s stock valued at $89,890,000 after purchasing an additional 397,729 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of CNX Resources by 197.0% during the second quarter. Renaissance Technologies LLC now owns 466,016 shares of the oil and gas producer’s stock worth $11,324,000 after buying an additional 309,100 shares in the last quarter. LSV Asset Management raised its position in shares of CNX Resources by 18.0% in the first quarter. LSV Asset Management now owns 1,757,121 shares of the oil and gas producer’s stock valued at $41,679,000 after buying an additional 267,768 shares during the last quarter. Finally, Quantbot Technologies LP lifted its stake in shares of CNX Resources by 533.4% in the first quarter. Quantbot Technologies LP now owns 286,480 shares of the oil and gas producer’s stock worth $6,795,000 after buying an additional 241,250 shares in the last quarter. Hedge funds and other institutional investors 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.