CNX Resources Co. to Post Q3 2024 Earnings of $0.39 Per Share, Capital One Financial Forecasts (NYSE:CNX)

CNX Resources Co. (NYSE:CNX) – Analysts at Capital One Financial increased their Q3 2024 earnings per share estimates for CNX Resources in a research report issued on Tuesday, April 30th. Capital One Financial analyst B. Velie now forecasts that the oil and gas producer will post earnings per share of $0.39 for the quarter, up from their prior forecast of $0.35. The consensus estimate for CNX Resources’ current full-year earnings is $1.35 per share.

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

CNX Resources Trading Up 0.4 %

Shares of CNX Resources stock opened at $23.29 on Friday. The company has a current ratio of 0.53, a quick ratio of 0.51 and a debt-to-equity ratio of 0.45. The stock has a fifty day simple moving average of $22.84 and a 200 day simple moving average of $21.44. CNX Resources has a 12-month low of $14.41 and a 12-month high of $24.82. The company has a market capitalization of $3.57 billion, a P/E ratio of 4.22 and a beta of 1.36.

Insider Activity 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 value of $25,537.58. Following the completion of the sale, the executive vice president now directly owns 67,982 shares of the company’s stock, valued at $1,416,065.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On CNX Resources

Several institutional investors have recently added to or reduced their stakes in the business. Invesco Ltd. raised its position in shares of CNX Resources by 11.7% in the third quarter. Invesco Ltd. now owns 3,587,664 shares of the oil and gas producer’s stock valued at $81,009,000 after purchasing an additional 376,245 shares during the period. American Century Companies Inc. grew its stake in CNX Resources by 11.2% in the 3rd quarter. American Century Companies Inc. now owns 2,154,145 shares of the oil and gas producer’s stock valued at $48,641,000 after buying an additional 217,753 shares in the last quarter. LSV Asset Management raised its holdings in CNX Resources by 223.4% during the 4th quarter. LSV Asset Management now owns 1,489,353 shares of the oil and gas producer’s stock valued at $29,787,000 after acquiring an additional 1,028,805 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of CNX Resources by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,455,350 shares of the oil and gas producer’s stock worth $29,107,000 after acquiring an additional 9,356 shares in the last quarter. Finally, Brandywine Global Investment Management LLC lifted its position in shares of CNX Resources by 5.1% during the third quarter. Brandywine Global Investment Management LLC now owns 927,237 shares of the oil and gas producer’s stock worth $20,937,000 after acquiring an additional 44,690 shares in the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

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.