CNX Resources (NYSE:CNX) Issues Earnings Results

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

CNX Resources Stock Performance

Shares of CNX stock opened at $27.41 on Friday. CNX Resources has a one year low of $19.07 and a one year high of $41.93. The business’s 50 day simple moving average is $34.35 and its 200 day simple moving average is $32.16. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.37 and a quick ratio of 0.36. The stock has a market capitalization of $4.09 billion, a PE ratio of 8.62, a PEG ratio of 0.37 and a beta of 1.42.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. JPMorgan Chase & Co. downgraded CNX Resources from a “neutral” rating to an “underweight” rating and boosted their price target for the company from $31.00 to $37.00 in a research note on Thursday, December 5th. Capital One Financial cut shares of CNX Resources from an “overweight” rating to an “equal weight” rating and set a $25.00 target price for the company. in a research report on Monday, October 14th. Mizuho reduced their price target on shares of CNX Resources from $38.00 to $34.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 14th. Truist Financial boosted their price objective on shares of CNX Resources from $34.00 to $35.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Finally, Stephens upped their target price on CNX Resources from $26.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Nine research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat.com, CNX Resources has an average rating of “Reduce” and a consensus target price of $29.67.

Insiders Place Their Bets

In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of CNX Resources stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $31.09, for a total transaction of $33,421,750.00. Following the completion of the sale, the insider now owns 13,925,000 shares of the company’s stock, valued at $432,928,250. The trade was a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate 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.