CNX Resources (NYSE:CNX) Announces Quarterly Earnings Results, Beats Estimates By $0.14 EPS

CNX Resources (NYSE:CNX - Get Free Report) issued its 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 positive return on equity of 6.72% and a negative net margin of 7.14%.

CNX Resources Stock Performance

Shares of CNX stock traded up $0.22 on Monday, hitting $27.60. 4,199,521 shares of the stock traded hands, compared to its average volume of 4,374,426. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.33 and a quick ratio of 0.32. The company has a market capitalization of $4.12 billion, a PE ratio of -40.59, a PEG ratio of 0.36 and a beta of 1.38. CNX Resources has a 1-year low of $19.07 and a 1-year high of $41.93. The company's fifty day moving average is $34.35 and its 200 day moving average is $32.24.

Wall Street Analyst Weigh In

Several research firms recently commented on CNX. Piper Sandler reduced their price target on CNX Resources from $23.00 to $22.00 and set an "underweight" rating on the stock in a research report on Wednesday, January 29th. Stephens boosted their price target on CNX Resources from $26.00 to $35.00 and gave the stock an "equal weight" rating in a research report on Friday, October 25th. TD Cowen began coverage on CNX Resources in a research report on Wednesday, January 15th. They set a "hold" rating and a $27.00 price target on the stock. Mizuho reduced their price target on CNX Resources from $38.00 to $34.00 and set an "underperform" rating on the stock in a research report on Tuesday, January 14th. Finally, Morgan Stanley began coverage on CNX Resources in a research report on Friday, January 10th. They set an "underweight" rating and a $29.00 price target on the stock. Nine analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat, CNX Resources currently has an average rating of "Reduce" and an average target price of $29.67.

Insider Activity at CNX Resources

In related news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the company's stock in a transaction on 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 transaction, the insider now directly owns 13,925,000 shares in the company, valued at $432,928,250. This represents a 7.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.65% 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.