$522.61 Million in Sales Expected for CNX Resources Co. (NYSE:CNX) This Quarter

Brokerages forecast that CNX Resources Co. (NYSE:CNXGet Rating) will post $522.61 million in sales for the current quarter, Zacks reports. Six analysts have made estimates for CNX Resources’ earnings, with the lowest sales estimate coming in at $448.00 million and the highest estimate coming in at $745.00 million. CNX Resources posted sales of $473.07 million in the same quarter last year, which suggests a positive year-over-year growth rate of 10.5%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Monday, January 1st.

According to Zacks, analysts expect that CNX Resources will report full year sales of $2.09 billion for the current financial year, with estimates ranging from $1.71 billion to $3.25 billion. For the next fiscal year, analysts anticipate that the company will report sales of $2.00 billion, with estimates ranging from $1.67 billion to $2.82 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for CNX Resources.

CNX Resources (NYSE:CNXGet Rating) last posted its earnings results on Thursday, January 27th. The oil and gas producer reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.18). The business had revenue of $448.00 million during the quarter, compared to the consensus estimate of $528.39 million.

A number of analysts have commented on CNX shares. Piper Sandler downgraded CNX Resources from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $19.00 to $27.00 in a research report on Thursday. Truist Financial upped their price objective on CNX Resources from $16.00 to $22.00 in a research report on Thursday. Wells Fargo & Company upped their price objective on CNX Resources from $23.00 to $26.00 and gave the company an “overweight” rating in a research report on Monday, March 14th. Finally, StockNews.com began coverage on CNX Resources in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, CNX Resources has an average rating of “Hold” and a consensus target price of $18.56.

CNX opened at $21.75 on Friday. The business’s fifty day moving average is $18.93 and its two-hundred day moving average is $15.93. 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 company has a market cap of $4.32 billion, a price-to-earnings ratio of -9.33, a PEG ratio of 0.53 and a beta of 1.36. CNX Resources has a one year low of $10.41 and a one year high of $23.33.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNX. Liberty Wealth Management LLC lifted its position in 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 buying an additional 1,658 shares during the period. Dark Forest Capital Management LP lifted its position in CNX Resources by 1,080.3% during the third quarter. Dark Forest Capital Management LP now owns 2,632 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 2,409 shares during the period. Lazard Asset Management LLC purchased a new position in CNX Resources during the fourth quarter worth about $35,000. Confluence Wealth Services Inc. purchased a new position in CNX Resources during the fourth quarter worth about $37,000. Finally, Point72 Hong Kong Ltd lifted its position in CNX Resources by 154.6% during the third quarter. Point72 Hong Kong Ltd now owns 3,002 shares of the oil and gas producer’s stock worth $38,000 after buying an additional 1,823 shares during the period. Hedge funds and other institutional investors own 91.54% of the company’s stock.

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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