CNX Resources Co. (NYSE:CNX) – Equities researchers at Truist Securiti lifted their Q3 2020 earnings estimates for CNX Resources in a research note issued to investors on Wednesday, October 21st. Truist Securiti analyst Ww. Fitzpatrick now expects that the oil and gas producer will post earnings of ($0.15) per share for the quarter, up from their prior estimate of ($0.16). Truist Securiti also issued estimates for CNX Resources’ FY2020 earnings at ($0.09) EPS, Q3 2021 earnings at $0.07 EPS, Q4 2021 earnings at $0.10 EPS and FY2022 earnings at $0.35 EPS.
CNX has been the subject of several other reports. MKM Partners reaffirmed a “neutral” rating and issued a $11.00 price objective on shares of CNX Resources in a research note on Monday, August 17th. Stifel Nicolaus reissued a “buy” rating and set a $13.00 price target on shares of CNX Resources in a research note on Friday, October 9th. Raymond James raised their price target on CNX Resources from $12.00 to $13.00 and gave the stock an “outperform” rating in a research note on Wednesday. Piper Sandler raised CNX Resources from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $10.00 to $13.00 in a research note on Wednesday, August 12th. Finally, ValuEngine lowered CNX Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, September 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $13.40.
NYSE:CNX opened at $11.40 on Friday. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of -3.37 and a beta of 1.55. CNX Resources has a 1 year low of $4.26 and a 1 year high of $14.19. The business has a 50 day simple moving average of $10.44 and a 200-day simple moving average of $10.18. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.88.
CNX Resources (NYSE:CNX) last posted its quarterly earnings data on Thursday, July 30th. The oil and gas producer reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.09. The business had revenue of $148.80 million during the quarter, compared to analyst estimates of $328.76 million. CNX Resources had a positive return on equity of 1.45% and a negative net margin of 39.32%. The company’s revenue for the quarter was down 75.4% on a year-over-year basis. During the same period last year, the company earned $0.06 EPS.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Private Advisor Group LLC purchased a new position in CNX Resources during the 2nd quarter worth $29,000. Tower Research Capital LLC TRC increased its holdings in shares of CNX Resources by 133.5% in the 1st quarter. Tower Research Capital LLC TRC now owns 9,341 shares of the oil and gas producer’s stock valued at $50,000 after acquiring an additional 5,341 shares during the period. Signaturefd LLC increased its holdings in shares of CNX Resources by 272.1% in the 2nd quarter. Signaturefd LLC now owns 5,902 shares of the oil and gas producer’s stock valued at $51,000 after acquiring an additional 4,316 shares during the period. CastleArk Alternatives LLC purchased a new position in shares of CNX Resources in the 2nd quarter valued at $53,000. Finally, James Investment Research Inc. purchased a new position in shares of CNX Resources in the 2nd quarter valued at $71,000. Institutional investors own 94.70% of the company’s stock.
About CNX Resources
CNX Resources Corporation, an independent oil and gas company, explores for, develops, and produces natural gas properties primarily in the Appalachian Basin. The company operates through two divisions, Exploration and Production (E&P), and Midstream. The E&P division produces pipeline quality natural gas primarily to gas wholesalers.
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