Q2 2024 EPS Estimates for CNX Resources Co. (NYSE:CNX) Cut by Roth Capital

CNX Resources Co. (NYSE:CNX) – Analysts at Roth Capital reduced their Q2 2024 EPS estimates for CNX Resources in a research report issued to clients and investors on Wednesday, April 24th. Roth Capital analyst L. Mariani now anticipates that the oil and gas producer will post earnings per share of $0.16 for the quarter, down from their prior forecast of $0.24. The consensus estimate for CNX Resources’ current full-year earnings is $1.29 per share. Roth Capital also issued estimates for CNX Resources’ Q3 2024 earnings at $0.13 EPS, Q4 2024 earnings at $0.20 EPS, Q1 2025 earnings at $0.47 EPS, Q2 2025 earnings at $0.28 EPS, Q3 2025 earnings at $0.26 EPS and FY2025 earnings at $1.40 EPS.

CNX Resources (NYSE:CNX) last issued its earnings results on Thursday, January 25th. The oil and gas producer reported $2.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $2.59. CNX Resources had a net margin of 50.34% and a return on equity of 9.00%. The firm had revenue of $999.50 million for the quarter, compared to analysts’ expectations of $401.62 million. During the same quarter last year, the business earned $1.64 earnings per share. The business’s revenue was down 38.9% on a year-over-year basis.

CNX has been the topic of several other research reports. Roth Mkm raised their target price on shares of CNX Resources from $18.00 to $22.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Scotiabank raised their price target on CNX Resources from $20.00 to $25.00 and gave the stock a “sector underperform” rating in a research note on Thursday, April 11th. Piper Sandler raised their price target on CNX Resources from $18.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, April 19th. Mizuho raised their price target on CNX Resources from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Finally, Bank of America raised CNX Resources from an “underperform” rating to a “neutral” rating and set a $23.00 price target for the company in a research note on Friday, January 5th. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $24.43.

CNX Resources Stock Up 0.3 %

Shares of CNX Resources stock opened at $24.01 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.49 and a current ratio of 0.51. CNX Resources has a 52-week low of $14.36 and a 52-week high of $24.82. The stock has a market capitalization of $3.68 billion, a price-to-earnings ratio of 2.64 and a beta of 1.33. The company’s 50 day moving average price is $22.59 and its 200-day moving average price is $21.42.

Insider Buying and Selling at CNX Resources

In other CNX Resources news, EVP Timothy Scott Bedard sold 1,226 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $20.83, for a total transaction of $25,537.58. Following the completion of the transaction, the executive vice president now owns 67,982 shares of the company’s stock, valued at $1,416,065.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On CNX Resources

Large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its holdings in CNX Resources by 243.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 72,656 shares of the oil and gas producer’s stock worth $1,723,000 after buying an additional 51,490 shares in the last quarter. AlphaMark Advisors LLC increased its holdings in CNX Resources by 36.7% in the 1st quarter. AlphaMark Advisors LLC now owns 15,225 shares of the oil and gas producer’s stock worth $361,000 after buying an additional 4,091 shares in the last quarter. Hexagon Capital Partners LLC increased its holdings in CNX Resources by 113.4% in the 1st quarter. Hexagon Capital Partners LLC now owns 2,138 shares of the oil and gas producer’s stock worth $51,000 after buying an additional 1,136 shares in the last quarter. Gateway Investment Advisers LLC bought a new stake in CNX Resources in the 1st quarter worth about $231,000. Finally, Congress Asset Management Co. MA increased its holdings in CNX Resources by 0.4% in the 4th quarter. Congress Asset Management Co. MA now owns 265,558 shares of the oil and gas producer’s stock worth $5,311,000 after buying an additional 945 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

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.