FY2024 EPS Estimates for CNX Resources Co. Reduced by Analyst (NYSE:CNX)

CNX Resources Co. (NYSE:CNX) – Investment analysts at Capital One Financial cut their FY2024 earnings per share (EPS) estimates for shares of CNX Resources in a research note issued on Monday, October 14th. Capital One Financial analyst B. Velie now forecasts that the oil and gas producer will earn $1.63 per share for the year, down from their prior forecast of $1.64. Capital One Financial has a “Equal Weight” rating and a $25.00 price objective on the stock. The consensus estimate for CNX Resources’ current full-year earnings is $1.43 per share. Capital One Financial also issued estimates for CNX Resources’ Q2 2025 earnings at $0.52 EPS, Q3 2025 earnings at $0.55 EPS, FY2025 earnings at $2.17 EPS and FY2026 earnings at $3.05 EPS.

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

Several other research firms also recently weighed in on CNX. Truist Financial increased their price target on CNX Resources from $31.00 to $38.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Piper Sandler downgraded CNX Resources from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $22.00 to $20.00 in a research note on Thursday, August 15th. Stephens reiterated an “equal weight” rating and set a $27.00 price target on shares of CNX Resources in a research note on Monday, July 15th. StockNews.com downgraded CNX Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd. Finally, Tudor, Pickering, Holt & Co. downgraded CNX Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $27.10.

CNX Resources Stock Up 3.7 %

Shares of NYSE:CNX opened at $35.36 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.41 and a quick ratio of 0.40. The company has a market capitalization of $5.42 billion, a PE ratio of 6.40 and a beta of 1.38. CNX Resources has a 1 year low of $19.07 and a 1 year high of $36.96. The business has a fifty day moving average price of $29.55 and a two-hundred day moving average price of $26.40.

Insider Buying and Selling

In related news, Director Bernard Lanigan, Jr. acquired 75,000 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were acquired at an average price of $26.81 per share, with a total value of $2,010,750.00. Following the acquisition, the director now owns 401,820 shares of the company’s stock, valued at approximately $10,772,794.20. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 3.10% of the stock is currently owned by insiders.

Institutional Trading of CNX Resources

Several institutional investors and hedge funds have recently modified their holdings of the business. Mizuho Markets Americas LLC purchased a new stake in shares of CNX Resources in the 2nd quarter valued at about $97,200,000. American Century Companies Inc. increased its position in shares of CNX Resources by 12.0% during the 2nd quarter. American Century Companies Inc. now owns 3,699,186 shares of the oil and gas producer’s stock valued at $89,890,000 after purchasing an additional 397,729 shares during the last quarter. LSV Asset Management increased its position in shares of CNX Resources by 1.4% during the 2nd quarter. LSV Asset Management now owns 1,780,921 shares of the oil and gas producer’s stock valued at $43,276,000 after purchasing an additional 23,800 shares during the last quarter. Tributary Capital Management LLC increased its position in shares of CNX Resources by 0.3% during the 2nd quarter. Tributary Capital Management LLC now owns 901,940 shares of the oil and gas producer’s stock valued at $21,917,000 after purchasing an additional 2,535 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of CNX Resources by 11.2% during the 1st quarter. Principal Financial Group Inc. now owns 659,497 shares of the oil and gas producer’s stock valued at $15,643,000 after purchasing an additional 66,528 shares during the last quarter. Hedge funds and other institutional investors own 95.16% 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.