CNX Resources (NYSE:CNX) Shares Gap Down to $8.42

CNX Resources Corp (NYSE:CNX) gapped down before the market opened on Thursday . The stock had previously closed at $8.78, but opened at $8.42. CNX Resources shares last traded at $8.32, with a volume of 4,665,107 shares traded.

Separately, Zacks Investment Research raised shares of CNX Resources from a “sell” rating to a “hold” rating and set a $9.00 price objective for the company in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $13.50.

The company has a current ratio of 0.74, a quick ratio of 0.72 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $1.58 billion, a P/E ratio of 5.44 and a beta of 0.66. The business’s fifty day moving average price is $7.47 and its 200-day moving average price is $8.61.



CNX Resources (NYSE:CNX) last issued its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.06). The business had revenue of $605.03 million during the quarter, compared to analysts’ expectations of $357.30 million. CNX Resources had a return on equity of 4.09% and a net margin of 17.60%. CNX Resources’s revenue for the quarter was up 50.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 EPS. As a group, equities research analysts forecast that CNX Resources Corp will post 0.65 EPS for the current year.

In other CNX Resources news, Director Bernard Lanigan, Jr. bought 200,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were bought at an average price of $6.39 per share, for a total transaction of $1,278,000.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director J. Palmer Clarkson bought 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The stock was acquired at an average price of $6.98 per share, for a total transaction of $139,600.00. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 254,150 shares of company stock worth $1,667,578. 2.40% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Glassman Wealth Services purchased a new position in CNX Resources in the 1st quarter worth $48,000. Signaturefd LLC increased its position in shares of CNX Resources by 386.5% in the second quarter. Signaturefd LLC now owns 6,641 shares of the oil and gas producer’s stock valued at $49,000 after acquiring an additional 5,276 shares during the period. Magnus Financial Group LLC purchased a new position in shares of CNX Resources in the second quarter valued at about $84,000. Tower Research Capital LLC TRC increased its position in shares of CNX Resources by 11,406.0% in the second quarter. Tower Research Capital LLC TRC now owns 11,506 shares of the oil and gas producer’s stock valued at $84,000 after acquiring an additional 11,406 shares during the period. Finally, Water Island Capital LLC purchased a new position in shares of CNX Resources in the first quarter valued at about $102,000. Institutional investors own 95.90% of the company’s stock.

CNX Resources Company Profile (NYSE:CNX)

CNX Resources Corporation, an independent oil and gas company, explores for, develops, and produces natural gas primarily in the Appalachian Basin. The company operates through two divisions, Exploration and Production (E&P), and Midstream. The E&P division produces pipeline quality natural gas primarily to gas wholesalers.

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