CNX Resources (NYSE:CNX) Announces Earnings Results

CNX Resources (NYSE:CNX) issued its quarterly earnings results on Thursday. The oil and gas producer reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.14, Zacks reports. CNX Resources had a net margin of 27.79% and a return on equity of 7.54%.

CNX Resources Stock Up 0.2 %

NYSE CNX traded up $0.05 during trading hours on Thursday, reaching $27.87. 3,064,425 shares of the company traded hands, compared to its average volume of 4,228,438. The company has a 50 day moving average of $34.89 and a two-hundred day moving average of $32.18. The company has a current ratio of 0.37, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46. CNX Resources has a 12 month low of $19.07 and a 12 month high of $41.93. The stock has a market capitalization of $4.16 billion, a PE ratio of 8.79, a PEG ratio of 0.47 and a beta of 1.42.

Insider Transactions at CNX Resources

In related news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $31.09, for a total value of $33,421,750.00. Following the sale, the insider now owns 13,925,000 shares of the company’s stock, valued at $432,928,250. This trade represents a 7.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. BMO Capital Markets boosted their price target on shares of CNX Resources from $26.00 to $29.00 and gave the stock a “market perform” rating in a research note on Friday, October 4th. Mizuho dropped their price target on shares of CNX Resources from $38.00 to $34.00 and set an “underperform” rating for the company in a research report on Tuesday, January 14th. TD Cowen assumed coverage on shares of CNX Resources in a research report on Wednesday, January 15th. They set a “hold” rating and a $27.00 price target for the company. JPMorgan Chase & Co. lowered shares of CNX Resources from a “neutral” rating to an “underweight” rating and upped their price target for the stock from $31.00 to $37.00 in a research report on Thursday, December 5th. Finally, Bank of America began coverage on shares of CNX Resources in a research report on Monday, October 28th. They issued an “underperform” rating and a $34.00 price objective for the company. Nine analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat.com, CNX Resources has a consensus rating of “Reduce” and a consensus price target of $29.67.

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.