Q2 2024 EPS Estimates for CNX Resources Co. (NYSE:CNX) Cut by Roth Capital

CNX Resources Co. (NYSE:CNX) – Equities researchers at Roth Capital reduced their Q2 2024 EPS estimates for CNX Resources in a research report issued on Wednesday, April 24th. Roth Capital analyst L. Mariani now expects that the oil and gas producer will post earnings of $0.16 per share for the quarter, down from their prior forecast of $0.24. The consensus estimate for CNX Resources’ current full-year earnings is $1.29 per share. Roth Capital also issued estimates for CNX Resources’ Q3 2024 earnings at $0.13 EPS, Q4 2024 earnings at $0.20 EPS, Q1 2025 earnings at $0.47 EPS, Q2 2025 earnings at $0.28 EPS, Q3 2025 earnings at $0.26 EPS and FY2025 earnings at $1.40 EPS.

CNX has been the subject of a number of other research reports. Bank of America upgraded shares of CNX Resources from an “underperform” rating to a “neutral” rating and set a $23.00 price objective for the company in a report on Friday, January 5th. Truist Financial boosted their price objective on shares of CNX Resources from $28.00 to $30.00 and gave the company a “buy” rating in a report on Friday, April 5th. Scotiabank boosted their price objective on shares of CNX Resources from $20.00 to $25.00 and gave the company a “sector underperform” rating in a report on Thursday, April 11th. Mizuho boosted their price objective on shares of CNX Resources from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Finally, Roth Mkm upped their price target on shares of CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, CNX Resources presently has an average rating of “Hold” and an average target price of $24.43.

CNX Resources Stock Up 0.3 %

Shares of NYSE CNX opened at $24.01 on Friday. The stock has a market cap of $3.68 billion, a P/E ratio of 2.64 and a beta of 1.33. The firm has a 50 day moving average price of $22.59 and a 200 day moving average price of $21.42. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.49 and a current ratio of 0.51. CNX Resources has a 52-week low of $14.36 and a 52-week high of $24.82.

CNX Resources (NYSE:CNX) last issued its quarterly earnings data on Thursday, January 25th. The oil and gas producer reported $2.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $2.59. The firm had revenue of $999.50 million during the quarter, compared to analysts’ expectations of $401.62 million. CNX Resources had a net margin of 50.34% and a return on equity of 9.00%. The business’s revenue for the quarter was down 38.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.64 earnings per share.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Algert Global LLC acquired a new position in CNX Resources during the third quarter worth $350,000. QRG Capital Management Inc. acquired a new position in CNX Resources during the third quarter worth $3,542,000. Comerica Bank acquired a new position in CNX Resources during the third quarter worth $4,054,000. Stifel Financial Corp boosted its holdings in CNX Resources by 444.1% during the third quarter. Stifel Financial Corp now owns 137,247 shares of the oil and gas producer’s stock worth $3,099,000 after purchasing an additional 112,023 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in CNX Resources during the third quarter worth $1,343,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insider Activity

In other news, EVP Timothy Scott Bedard sold 1,226 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $20.83, for a total value of $25,537.58. Following the completion of the transaction, the executive vice president now owns 67,982 shares in the company, valued at $1,416,065.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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.