CNX Resources Co. (NYSE:CNX) Expected to Announce Earnings of $0.60 Per Share

Brokerages expect CNX Resources Co. (NYSE:CNXGet Rating) to announce earnings per share (EPS) of $0.60 for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for CNX Resources’ earnings, with estimates ranging from $0.46 to $0.79. CNX Resources posted earnings of $0.36 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 66.7%. The firm is expected to report its next quarterly earnings report before the market opens on Monday, January 1st.

On average, analysts expect that CNX Resources will report full year earnings of $2.07 per share for the current financial year, with EPS estimates ranging from $1.63 to $2.86. For the next fiscal year, analysts anticipate that the company will report earnings of $2.23 per share, with EPS estimates ranging from $1.41 to $3.77. Zacks’ earnings per share averages are an average based on a survey of research firms that follow CNX Resources.

CNX Resources (NYSE:CNXGet Rating) last announced its quarterly earnings data on Thursday, January 27th. The oil and gas producer reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.18). The firm had revenue of $448.00 million for the quarter, compared to analysts’ expectations of $528.39 million.

A number of research firms recently commented on CNX. Wells Fargo & Company boosted their price target on CNX Resources from $23.00 to $26.00 and gave the stock an “overweight” rating in a report on Monday, March 14th. Truist Financial reduced their price objective on CNX Resources from $16.00 to $15.00 in a research note on Friday, January 14th. Finally, StockNews.com started coverage on CNX Resources in a report on Thursday, March 31st. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, CNX Resources presently has an average rating of “Hold” and a consensus target price of $16.63.

Shares of CNX Resources stock traded up $0.43 during trading hours on Wednesday, hitting $22.57. The company’s stock had a trading volume of 1,865,268 shares, compared to its average volume of 3,554,893. The company has a market cap of $4.48 billion, a PE ratio of -9.69, a PEG ratio of 0.53 and a beta of 1.36. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.48 and a current ratio of 0.48. The business has a 50 day moving average price of $18.93 and a two-hundred day moving average price of $15.93. CNX Resources has a 12-month low of $10.41 and a 12-month high of $23.33.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bailard Inc. lifted its stake in CNX Resources by 3.2% in the fourth quarter. Bailard Inc. now owns 22,376 shares of the oil and gas producer’s stock worth $308,000 after purchasing an additional 700 shares during the last quarter. California State Teachers Retirement System boosted its holdings in CNX Resources by 0.3% during the 4th quarter. California State Teachers Retirement System now owns 298,478 shares of the oil and gas producer’s stock valued at $4,104,000 after acquiring an additional 999 shares during the period. CI Investments Inc. grew its position in CNX Resources by 2.9% in the 3rd quarter. CI Investments Inc. now owns 42,404 shares of the oil and gas producer’s stock valued at $535,000 after acquiring an additional 1,198 shares during the last quarter. Brinker Capital Investments LLC increased its stake in CNX Resources by 7.7% in the fourth quarter. Brinker Capital Investments LLC now owns 20,707 shares of the oil and gas producer’s stock worth $285,000 after purchasing an additional 1,478 shares during the period. Finally, Liberty Wealth Management LLC lifted its position in shares of CNX Resources by 197.4% during the third quarter. Liberty Wealth Management LLC now owns 2,498 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 1,658 shares during the last quarter. 91.54% of the stock is currently owned by hedge funds and other institutional investors.

CNX Resources Company Profile (Get Rating)

CNX Resources Corporation, an independent natural gas and midstream company, acquires, explores for, develops, and produces natural gas properties in the Appalachian Basin. The company operates in two segments, Shale and Coalbed Methane. It produces and sells pipeline quality natural gas primarily for gas wholesalers.

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