CNX Resources (NYSE:CNX) Releases Quarterly Earnings Results, Beats Expectations By $0.14 EPS

CNX Resources (NYSE:CNX) issued its quarterly earnings results on Thursday. The oil and gas producer reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.14, Zacks reports. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%.

CNX Resources Stock Performance

CNX Resources stock opened at $27.87 on Friday. CNX Resources has a 52-week low of $19.07 and a 52-week high of $41.93. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.37 and a quick ratio of 0.36. The stock has a fifty day moving average price of $34.63 and a two-hundred day moving average price of $32.15. The firm has a market capitalization of $4.16 billion, a P/E ratio of 8.77, a P/E/G ratio of 0.37 and a beta of 1.42.

Insider Transactions at CNX Resources

In related news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $31.09, for a total transaction of $33,421,750.00. Following the sale, the insider now directly owns 13,925,000 shares in the company, valued at $432,928,250. This represents a 7.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CNX shares. Truist Financial increased their price target on shares of CNX Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. lowered shares of CNX Resources from a “neutral” rating to an “underweight” rating and lifted their target price for the company from $31.00 to $37.00 in a research note on Thursday, December 5th. Morgan Stanley initiated coverage on shares of CNX Resources in a research note on Friday, January 10th. They issued an “underweight” rating and a $29.00 price target on the stock. Stephens lifted their price objective on CNX Resources from $26.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Finally, Capital One Financial lowered CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 target price on the stock. in a research report on Monday, October 14th. Nine equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $29.67.

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.