CNX Resources (NYSE:CNX) Announces Quarterly Earnings Results

CNX Resources (NYSE:CNX) posted its quarterly earnings data on Thursday. The oil and gas producer reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.14, Zacks reports. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%.

CNX Resources Trading Down 0.3 %

CNX Resources stock opened at $27.41 on Friday. The firm has a market capitalization of $4.09 billion, a price-to-earnings ratio of 8.62, a P/E/G ratio of 0.37 and a beta of 1.42. CNX Resources has a 12-month low of $19.07 and a 12-month high of $41.93. The firm has a 50 day moving average of $34.35 and a 200 day moving average of $32.16. The company has a current ratio of 0.37, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46.

Insiders Place Their Bets

In related news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $31.09, for a total value of $33,421,750.00. Following the completion of the transaction, the insider now directly owns 13,925,000 shares of the company’s stock, valued at approximately $432,928,250. This trade represents a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CNX shares. TD Cowen started coverage on CNX Resources in a research report on Wednesday, January 15th. They set a “hold” rating and a $27.00 price target on the stock. Capital One Financial cut shares of CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 target price on the stock. in a report on Monday, October 14th. JPMorgan Chase & Co. lowered shares of CNX Resources from a “neutral” rating to an “underweight” rating and boosted their price objective for the stock from $31.00 to $37.00 in a research note on Thursday, December 5th. Bank of America initiated coverage on CNX Resources in a report on Monday, October 28th. They set an “underperform” rating and a $34.00 price target on the stock. Finally, Mizuho lowered their target price on shares of CNX Resources from $38.00 to $34.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 14th. Nine research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, CNX Resources has a consensus rating of “Reduce” and a consensus target price of $29.67.

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.