CNX Resources (NYSE:CNX) Announces Earnings Results, Beats Expectations By $0.09 EPS

CNX Resources (NYSE:CNX) announced its earnings results on Thursday. The oil and gas producer reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.09, Zacks reports. The firm had revenue of $321.44 million for the quarter, compared to analyst estimates of $387.46 million. CNX Resources had a net margin of 26.64% and a return on equity of 7.51%. During the same quarter last year, the business earned $0.29 earnings per share.

CNX Resources Stock Performance

CNX Resources stock opened at $25.35 on Friday. CNX Resources has a 12-month low of $18.42 and a 12-month high of $26.60. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of 4.59 and a beta of 1.37. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.41 and a quick ratio of 0.51. The firm’s fifty day moving average price is $25.13 and its 200 day moving average price is $23.09.

Wall Street Analyst Weigh In

CNX has been the topic of a number of research analyst reports. Scotiabank lifted their price target 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. Piper Sandler lifted 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 Friday, April 19th. Stephens reiterated an “equal weight” rating and issued a $27.00 price target on shares of CNX Resources in a report on Monday, July 15th. Truist Financial lifted their price target on shares of CNX Resources from $30.00 to $31.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Finally, StockNews.com upgraded shares of CNX Resources from a “sell” rating to a “hold” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, CNX Resources currently has a consensus rating of “Hold” and an average price target of $25.57.

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.