CNX Resources (CNX) Projected to Post Earnings on Thursday

CNX Resources (NYSE:CNX) is expected to be posting its quarterly earnings results before the market opens on Thursday, January 30th. Analysts expect CNX Resources to post earnings of $0.43 per share and revenue of $434.62 million for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

CNX Resources Stock Down 1.8 %

CNX stock opened at $27.78 on Wednesday. The business has a 50-day moving average of $35.14 and a 200-day moving average of $32.21. CNX Resources has a fifty-two week low of $19.07 and a fifty-two week high of $41.93. The stock has a market capitalization of $4.15 billion, a P/E ratio of 8.74, a P/E/G ratio of 0.47 and a beta of 1.42. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.37 and a quick ratio of 0.36.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CNX. JPMorgan Chase & Co. cut shares of CNX Resources from a “neutral” rating to an “underweight” rating and raised their price target for the stock from $31.00 to $37.00 in a research note on Thursday, December 5th. Stephens raised their target price on shares of CNX Resources from $26.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Tudor, Pickering, Holt & Co. cut shares of CNX Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Tudor Pickering upgraded shares of CNX Resources to a “strong sell” rating in a research note on Tuesday, October 1st. Finally, Morgan Stanley assumed coverage on CNX Resources in a research report on Friday, January 10th. They issued an “underweight” rating and a $29.00 target price on the stock. Nine investment analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat, CNX Resources presently has an average rating of “Reduce” and a consensus price target of $29.75.

Insider Buying and Selling at CNX Resources

In other news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $31.09, for a total transaction of $33,421,750.00. Following the completion of the sale, the insider now owns 13,925,000 shares in the company, valued at approximately $432,928,250. This trade represents a 7.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 3.10% of the company’s stock.

About CNX Resources

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.