CNX Resources (CNX) Set to Announce Quarterly Earnings on Thursday

CNX Resources (NYSE:CNX) is set to release its earnings data before the market opens on Thursday, October 24th. Analysts expect CNX Resources to post earnings of $0.31 per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

CNX Resources (NYSE:CNX) last issued its quarterly earnings results on Thursday, July 25th. The oil and gas producer reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.09. CNX Resources had a net margin of 26.64% and a return on equity of 7.51%. The business had revenue of $321.44 million for the quarter, compared to analysts’ expectations of $387.46 million. During the same quarter in the prior year, the firm posted $0.29 earnings per share. On average, analysts expect CNX Resources to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

CNX Resources Stock Performance

CNX stock opened at $35.77 on Tuesday. CNX Resources has a 1-year low of $19.07 and a 1-year high of $36.96. The company has a current ratio of 0.41, a quick ratio of 0.40 and a debt-to-equity ratio of 0.46. The stock has a 50-day moving average price of $29.92 and a 200-day moving average price of $26.57. The firm has a market cap of $5.48 billion, a PE ratio of 6.48 and a beta of 1.38.

Insider Buying and Selling

In other news, Director Bernard Lanigan, Jr. acquired 75,000 shares of the business’s stock in a transaction on Monday, September 9th. The shares were purchased at an average cost of $26.81 per share, with a total value of $2,010,750.00. Following the acquisition, the director now directly owns 401,820 shares of the company’s stock, valued at $10,772,794.20. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CNX shares. Tudor Pickering upgraded CNX Resources to a “strong sell” rating in a report on Tuesday, October 1st. Tudor, Pickering, Holt & Co. cut shares of CNX Resources from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. BMO Capital Markets upped their price objective on shares of CNX Resources from $26.00 to $29.00 and gave the company a “market perform” rating in a report on Friday, October 4th. Piper Sandler downgraded CNX Resources from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $22.00 to $20.00 in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. upped their price target on CNX Resources from $26.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $27.10.

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.