CNX Resources (CNX) Projected to Post Earnings on Thursday

CNX Resources (NYSE:CNX) will likely be issuing its quarterly earnings data before the market opens on Thursday, January 30th. Analysts expect the company to announce earnings of $0.43 per share and revenue of $434.62 million for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

CNX Resources Stock Down 1.8 %

Shares of CNX opened at $27.78 on Wednesday. The company has a current ratio of 0.37, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $4.15 billion, a PE ratio of 8.74, a P/E/G ratio of 0.47 and a beta of 1.42. The firm’s 50 day moving average is $35.14 and its 200-day moving average is $32.21. CNX Resources has a 12 month low of $19.07 and a 12 month high of $41.93.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. BMO Capital Markets lifted their price objective on CNX Resources from $26.00 to $29.00 and gave the company a “market perform” rating in a report on Friday, October 4th. Capital One Financial downgraded CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 price target for the company. in a research note on Monday, October 14th. Piper Sandler increased their price objective on shares of CNX Resources from $20.00 to $23.00 and gave the stock an “underweight” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. cut shares of CNX Resources from a “neutral” rating to an “underweight” rating and boosted their target price for the company from $31.00 to $37.00 in a research report on Thursday, December 5th. Finally, TD Cowen began 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 on the stock. Nine equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $29.75.

Insiders Place Their Bets

In other news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $31.09, for a total value of $33,421,750.00. Following the completion of the transaction, the insider now owns 13,925,000 shares of the company’s stock, valued at $432,928,250. This represents a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 3.10% of the company’s stock.

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.