CNX Resources (NYSE:CNX) announced its quarterly earnings results on Tuesday. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.06), RTT News reports. CNX Resources had a return on equity of 5.66% and a net margin of 12.00%. The business had revenue of $605.03 million during the quarter, compared to the consensus estimate of $357.30 million. During the same quarter last year, the company earned $0.33 earnings per share. The firm’s revenue was up 50.5% compared to the same quarter last year.
Shares of CNX Resources stock opened at $7.82 on Wednesday. The company has a quick ratio of 0.59, a current ratio of 0.62 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $1.27 billion, a P/E ratio of 5.11 and a beta of 0.71. CNX Resources has a 1 year low of $6.14 and a 1 year high of $16.42. The stock has a 50-day simple moving average of $7.16.
Separately, Zacks Investment Research upgraded Golub Capital BDC from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Tuesday, July 16th. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. CNX Resources currently has an average rating of “Hold” and a consensus price target of $13.40.
Several large investors have recently bought and sold shares of the stock. Glassman Wealth Services acquired a new position in CNX Resources during the first quarter valued at approximately $48,000. Investors Research Corp acquired a new position in CNX Resources during the first quarter valued at approximately $57,000. Pearl River Capital LLC boosted its position in CNX Resources by 1,047.6% during the first quarter. Pearl River Capital LLC now owns 5,738 shares of the oil and gas producer’s stock valued at $62,000 after purchasing an additional 5,238 shares during the last quarter. Macquarie Group Ltd. boosted its position in CNX Resources by 869.5% during the fourth quarter. Macquarie Group Ltd. now owns 7,756 shares of the oil and gas producer’s stock valued at $89,000 after purchasing an additional 6,956 shares during the last quarter. Finally, Water Island Capital LLC acquired a new position in CNX Resources during the first quarter valued at approximately $102,000. Institutional investors and hedge funds own 95.93% of the company’s stock.
About CNX Resources
CNX Resources Corporation, an independent oil and gas company, explores for, develops, and produces natural gas 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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