Q2 2024 Earnings Estimate for CNX Resources Co. Issued By Capital One Financial (NYSE:CNX)

CNX Resources Co. (NYSE:CNX) – Equities researchers at Capital One Financial decreased their Q2 2024 earnings estimates for CNX Resources in a research report issued to clients and investors on Monday, April 15th. Capital One Financial analyst B. Velie now forecasts that the oil and gas producer will post earnings of $0.34 per share for the quarter, down from their prior forecast of $0.35. The consensus estimate for CNX Resources’ current full-year earnings is $1.31 per share. Capital One Financial also issued estimates for CNX Resources’ Q4 2024 earnings at $0.36 EPS and FY2024 earnings at $1.41 EPS.

Other research analysts also recently issued research reports about the company. Piper Sandler increased their target price on CNX Resources from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, March 7th. Bank of America raised shares of CNX Resources from an “underperform” rating to a “neutral” rating and set a $23.00 price target for the company in a research report on Friday, January 5th. Roth Mkm raised their price objective 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. Mizuho boosted their target price on shares of CNX Resources from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Finally, Truist Financial increased their price target on shares of CNX Resources from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Two 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 stock has a consensus rating of “Hold” and a consensus price target of $23.86.

CNX Resources Stock Performance

CNX stock opened at $23.85 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.51 and a quick ratio of 0.49. CNX Resources has a 1 year low of $14.36 and a 1 year high of $24.82. The company has a market cap of $3.65 billion, a P/E ratio of 2.62 and a beta of 1.33. The stock’s fifty day moving average price is $22.00 and its 200-day moving average price is $21.32.

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

Insider Activity

In related news, EVP Timothy Scott Bedard sold 1,226 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were 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 approximately $1,416,065.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.65% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CNX. Neo Ivy Capital Management bought a new stake in CNX Resources during the third quarter valued at about $26,000. BluePath Capital Management LLC purchased a new position in CNX Resources in the 3rd quarter worth approximately $32,000. Castleview Partners LLC bought a new position in CNX Resources in the 3rd quarter worth approximately $41,000. KBC Group NV purchased a new stake in CNX Resources during the 4th quarter valued at approximately $44,000. Finally, Adirondack Trust Co. bought a new stake in shares of CNX Resources during the third quarter valued at approximately $54,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

CNX Resources Company Profile

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.