CNX Resources (CNX) Expected to Announce Quarterly Earnings on Thursday

CNX Resources (NYSE:CNX) is anticipated to announce its earnings results before the market opens on Thursday, January 30th. Analysts expect the company to announce earnings of $0.42 per share and revenue of $422,036.93 billion for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

CNX Resources (NYSE:CNX) last released its quarterly earnings results on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.09. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%. The company had revenue of $424.21 million for the quarter, compared to analyst estimates of $398.33 million. During the same period last year, the firm earned $0.35 earnings per share. On average, analysts expect CNX Resources to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

CNX Resources Trading Down 2.6 %

Shares of CNX stock opened at $29.23 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.37. The company has a market capitalization of $4.36 billion, a price-to-earnings ratio of 9.19, a PEG ratio of 0.48 and a beta of 1.42. CNX Resources has a 52-week low of $19.07 and a 52-week high of $41.93. The company has a 50-day simple moving average of $35.98 and a two-hundred day simple moving average of $32.09.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Capital One Financial downgraded CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 price target for the company. in a research report on Monday, October 14th. TD Cowen assumed coverage on CNX Resources in a research note on Wednesday, January 15th. They set a “hold” rating and a $27.00 target price on the stock. Tudor, Pickering, Holt & Co. lowered shares of CNX Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Tudor Pickering raised shares of CNX Resources to a “strong sell” rating in a research report on Tuesday, October 1st. Finally, Piper Sandler increased their target price on shares of CNX Resources from $20.00 to $23.00 and gave the company an “underweight” rating in a research report on Friday, December 6th. Nine investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $29.75.

Insider Activity

In other news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $31.09, for a total transaction of $33,421,750.00. Following the completion of the transaction, the insider now directly owns 13,925,000 shares in the company, valued at $432,928,250. The trade was a 7.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.65% of the company’s stock.

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.