CNX Resources Co. to Post FY2024 Earnings of $1.64 Per Share, Capital One Financial Forecasts (NYSE:CNX)

CNX Resources Co. (NYSE:CNX) – Stock analysts at Capital One Financial upped their FY2024 earnings per share (EPS) estimates for shares of CNX Resources in a research report issued to clients and investors on Tuesday, September 17th. Capital One Financial analyst B. Velie now forecasts that the oil and gas producer will post earnings per share of $1.64 for the year, up from their prior estimate of $1.56. The consensus estimate for CNX Resources’ current full-year earnings is $1.47 per share. Capital One Financial also issued estimates for CNX Resources’ Q4 2024 earnings at $0.51 EPS.

CNX Resources (NYSE:CNX) last released its quarterly earnings results on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.09. CNX Resources had a return on equity of 7.51% and a net margin of 26.64%. The company had revenue of $321.44 million during the quarter, compared to the consensus estimate of $387.46 million. During the same quarter in the prior year, the company posted $0.29 EPS.

A number of other analysts have also recently weighed in on the stock. StockNews.com cut shares of CNX Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd. JPMorgan Chase & Co. boosted their target price on shares of CNX Resources from $26.00 to $27.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Stephens reaffirmed an “equal weight” rating and issued a $27.00 price target on shares of CNX Resources in a research report on Monday, July 15th. Scotiabank lifted their price objective on CNX Resources from $25.00 to $27.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, August 20th. Finally, Mizuho increased their target price on CNX Resources from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $26.13.

CNX Resources Stock Up 6.1 %

CNX opened at $31.87 on Thursday. CNX Resources has a twelve month low of $19.07 and a twelve month high of $31.89. 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 business has a 50 day moving average price of $26.63 and a 200 day moving average price of $24.89. The firm has a market cap of $4.88 billion, a P/E ratio of 5.73 and a beta of 1.37.

Insider Activity

In other news, Director Bernard Lanigan, Jr. acquired 75,000 shares of CNX Resources stock in a transaction on Monday, September 9th. The stock was bought at an average price of $26.81 per share, for a total transaction of $2,010,750.00. Following the transaction, the director now owns 401,820 shares of the company’s stock, valued at $10,772,794.20. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 3.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On CNX Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC increased its stake in CNX Resources by 54.1% in the second quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock valued at $46,000 after acquiring an additional 666 shares during the period. Hexagon Capital Partners LLC lifted its position in shares of CNX Resources by 113.4% during the 1st quarter. Hexagon Capital Partners LLC now owns 2,138 shares of the oil and gas producer’s stock worth $51,000 after buying an additional 1,136 shares during the period. Natixis acquired a new stake in CNX Resources in the 1st quarter valued at $79,000. Innealta Capital LLC bought a new stake in CNX Resources in the second quarter valued at $131,000. Finally, TFO Wealth Partners LLC raised its stake in CNX Resources by 64,084.6% during the fourth quarter. TFO Wealth Partners LLC now owns 8,344 shares of the oil and gas producer’s stock worth $167,000 after acquiring an additional 8,331 shares in the last quarter. 95.16% of the stock is owned by institutional investors.

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.