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

CNX Resources Co. (NYSE:CNX) – Stock analysts at Capital One Financial dropped their FY2024 EPS estimates for CNX Resources in a research report issued on Monday, October 14th. Capital One Financial analyst B. Velie now forecasts that the oil and gas producer will post earnings per share of $1.63 for the year, down from their previous estimate of $1.64. Capital One Financial currently has a “Equal Weight” rating and a $25.00 price target 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 results on Thursday, July 25th. The oil and gas producer reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.09. CNX Resources had a return on equity of 7.51% and a net margin of 26.64%. The business had revenue of $321.44 million during the quarter, compared to the consensus estimate of $387.46 million. During the same quarter last year, the firm posted $0.29 EPS.

A number of other equities research analysts also recently weighed in on CNX. JPMorgan Chase & Co. lifted their target price on CNX Resources from $26.00 to $27.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Piper Sandler downgraded CNX Resources from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $22.00 to $20.00 in a research note on Thursday, August 15th. BMO Capital Markets boosted their price target on CNX Resources from $26.00 to $29.00 and gave the company a “market perform” rating in a research note on Friday, October 4th. Mizuho boosted their price target on CNX Resources from $32.00 to $33.00 and gave the company a “neutral” rating in a research note on Monday. 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 equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $27.10.

CNX Resources Stock Up 3.7 %

CNX opened at $35.36 on Wednesday. CNX Resources has a fifty-two week low of $19.07 and a fifty-two week high of $36.96. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.40 and a current ratio of 0.41. The company has a market capitalization of $5.42 billion, a P/E ratio of 6.40 and a beta of 1.38. The stock has a fifty day moving average of $29.55 and a 200-day moving average of $26.40.

Hedge Funds Weigh In On CNX Resources

Several institutional investors have recently added to or reduced their stakes in CNX. Congress Asset Management Co. MA lifted its stake in CNX Resources by 0.4% in the fourth quarter. Congress Asset Management Co. MA now owns 265,558 shares of the oil and gas producer’s stock valued at $5,311,000 after buying an additional 945 shares during the period. Gateway Investment Advisers LLC acquired a new position in CNX Resources in the first quarter valued at approximately $231,000. Hexagon Capital Partners LLC raised its position in shares of CNX Resources by 113.4% during the first quarter. Hexagon Capital Partners LLC now owns 2,138 shares of the oil and gas producer’s stock worth $51,000 after purchasing an additional 1,136 shares during the period. AlphaMark Advisors LLC raised its position in shares of CNX Resources by 36.7% during the first quarter. AlphaMark Advisors LLC now owns 15,225 shares of the oil and gas producer’s stock worth $361,000 after purchasing an additional 4,091 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in shares of CNX Resources by 243.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 72,656 shares of the oil and gas producer’s stock worth $1,723,000 after purchasing an additional 51,490 shares during the period. 95.16% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Bernard Lanigan, Jr. acquired 75,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were bought at an average cost of $26.81 per share, with a total value of $2,010,750.00. Following the completion of the purchase, the director now directly owns 401,820 shares in the company, valued at $10,772,794.20. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 3.10% of the stock is owned by insiders.

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.