Brokers Set Expectations for CNX Resources Co.’s Q3 2024 Earnings (NYSE:CNX)

CNX Resources Co. (NYSE:CNX) – Investment analysts at Capital One Financial decreased their Q3 2024 earnings per share estimates for shares of CNX Resources in a research note issued to investors on Tuesday, September 17th. Capital One Financial analyst B. Velie now expects that the oil and gas producer will earn $0.38 per share for the quarter, down from their prior estimate of $0.40. The consensus estimate for CNX Resources’ current full-year earnings is $1.47 per share. Capital One Financial also issued estimates for CNX Resources’ Q1 2025 earnings at $0.52 EPS, Q2 2025 earnings at $0.53 EPS, Q3 2025 earnings at $0.56 EPS, Q4 2025 earnings at $0.59 EPS, FY2025 earnings at $2.21 EPS and FY2026 earnings at $3.18 EPS.

CNX Resources (NYSE:CNX) last announced 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. The firm had revenue of $321.44 million for the quarter, compared to analyst estimates of $387.46 million. CNX Resources had a return on equity of 7.51% and a net margin of 26.64%. During the same period last year, the firm posted $0.29 earnings per share.

Several other equities analysts also recently issued reports on the stock. Stephens reaffirmed an “equal weight” rating and set a $27.00 price target on shares of CNX Resources in a research note on Monday, July 15th. JPMorgan Chase & Co. raised their target price on CNX Resources from $26.00 to $27.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Truist Financial upped their price target on CNX Resources from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Scotiabank raised their price objective on CNX Resources from $25.00 to $27.00 and gave the stock a “sector underperform” rating in a research report on Tuesday, August 20th. Finally, Piper Sandler lowered CNX Resources from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $22.00 to $20.00 in a research note on Thursday, August 15th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $26.13.

CNX Resources Stock Up 2.1 %

Shares of NYSE CNX opened at $30.04 on Friday. CNX Resources has a 1 year low of $19.07 and a 1 year high of $30.22. 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 firm has a market cap of $4.60 billion, a PE ratio of 5.44 and a beta of 1.37. The company has a 50 day simple moving average of $26.55 and a 200 day simple moving average of $24.86.

Insider Buying and Selling at CNX Resources

In related news, Director Bernard Lanigan, Jr. acquired 75,000 shares of CNX Resources stock in a transaction dated Monday, September 9th. The stock was bought at an average price of $26.81 per share, with a total value of $2,010,750.00. Following the transaction, the director now directly owns 401,820 shares in the company, valued at approximately $10,772,794.20. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Mizuho Markets Americas LLC acquired a new position in shares of CNX Resources during the second quarter valued at about $97,200,000. American Century Companies Inc. increased its position in CNX Resources by 12.0% in 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 buying an additional 397,729 shares in the last quarter. LSV Asset Management raised its stake in 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 worth $43,276,000 after buying an additional 23,800 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in CNX Resources by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,455,350 shares of the oil and gas producer’s stock worth $29,107,000 after acquiring an additional 9,356 shares in the last quarter. Finally, Tributary Capital Management LLC grew its stake in CNX Resources by 0.3% in the second quarter. Tributary Capital Management LLC now owns 901,940 shares of the oil and gas producer’s stock valued at $21,917,000 after acquiring an additional 2,535 shares during the period. 95.16% of the stock is owned by institutional investors.

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.