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

CNX Resources (NYSE:CNX) announced its earnings results on Thursday. The oil and gas producer reported $0.57 earnings per share (EPS) 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 traded down $0.10 during trading hours on Thursday, hitting $27.72. The company had a trading volume of 3,196,426 shares, compared to its average volume of 4,233,587. CNX Resources has a one year low of $19.07 and a one year high of $41.93. The firm has a market cap of $4.14 billion, a PE ratio of 8.71, a PEG ratio of 0.47 and a beta of 1.42. The firm has a 50-day moving average of $34.89 and a 200 day moving average of $32.18. 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 recently commented on CNX. Morgan Stanley assumed coverage on shares of CNX Resources in a report on Friday, January 10th. They set an “underweight” rating and a $29.00 target price for the company. TD Cowen initiated coverage on CNX Resources in a report on Wednesday, January 15th. They issued a “hold” rating and a $27.00 price objective for the company. 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 report on Monday, October 14th. Bank of America started coverage on CNX Resources in a research note on Monday, October 28th. They issued an “underperform” rating and a $34.00 price target for the company. Finally, Stephens upped their price objective on CNX Resources from $26.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Nine research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $29.67.

Insider Activity

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 13,925,000 shares in the company, valued at $432,928,250. This represents a 7.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.10% of the stock is owned by company insiders.

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.