Capital One Financial Weighs in on CNX Resources Co.'s FY2024 Earnings (NYSE:CNX)

CNX Resources Co. (NYSE:CNX - Free Report) - Investment analysts at Capital One Financial cut their FY2024 EPS estimates for CNX Resources in a report issued on Monday, October 14th. Capital One Financial analyst B. Velie now forecasts that the oil and gas producer will post earnings per share of $1.63 for the year, down from their prior estimate of $1.64. Capital One Financial currently has a "Equal Weight" rating and a $25.00 target price on the stock. The consensus estimate for CNX Resources' current full-year earnings is $1.43 per share. Capital One Financial also issued estimates for CNX Resources' Q2 2025 earnings at $0.52 EPS, Q3 2025 earnings at $0.55 EPS, FY2025 earnings at $2.17 EPS and FY2026 earnings at $3.05 EPS.

A number of other research analysts also recently issued reports on the company. StockNews.com downgraded CNX Resources from a "hold" rating to a "sell" rating in a report on Saturday, August 3rd. BMO Capital Markets lifted their target price on CNX Resources from $26.00 to $29.00 and gave the company a "market perform" rating in a research note on Friday, October 4th. Stephens reissued an "equal weight" rating and set a $27.00 price target on shares of CNX Resources in a research report on Monday, July 15th. Tudor Pickering raised shares of CNX Resources to a "strong sell" rating in a research report on Tuesday, October 1st. Finally, Mizuho increased their target price on shares of CNX Resources from $32.00 to $33.00 and gave the company a "neutral" rating in a research report on Monday. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $27.10.

CNX Resources Stock Up 3.8 %

CNX stock traded up $1.28 during trading on Wednesday, hitting $35.36. 2,390,376 shares of the company's stock traded hands, compared to its average volume of 2,721,645. The business has a fifty day simple moving average of $29.34 and a two-hundred day simple moving average of $26.34. The company has a quick ratio of 0.40, a current ratio of 0.41 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $5.42 billion, a P/E ratio of 6.17 and a beta of 1.38. CNX Resources has a 1 year low of $19.07 and a 1 year high of $36.96.

CNX Resources (NYSE:CNX - Get Free Report) last posted its quarterly earnings results on Thursday, July 25th. The oil and gas producer reported $0.36 EPS for the quarter, beating the consensus estimate of $0.27 by $0.09. CNX Resources had a net margin of 26.64% and a return on equity of 7.51%. The business had revenue of $321.44 million during the quarter, compared to analyst estimates of $387.46 million. During the same quarter in the previous year, the business posted $0.29 EPS.

Insider Activity

In other news, Director Bernard Lanigan, Jr. purchased 75,000 shares of the stock in a transaction on Monday, September 9th. The stock was bought at an average price of $26.81 per share, with a total value of $2,010,750.00. Following the transaction, the director now owns 401,820 shares in the company, valued at $10,772,794.20. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.10% of the company's stock.

Hedge Funds Weigh In On CNX Resources

A number of institutional investors have recently bought and sold shares of CNX. GAMMA Investing LLC lifted its holdings in shares of CNX Resources by 54.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer's stock valued at $46,000 after buying an additional 666 shares during the period. Hexagon Capital Partners LLC grew its holdings in CNX Resources by 113.4% during the first quarter. Hexagon Capital Partners LLC now owns 2,138 shares of the oil and gas producer's stock worth $51,000 after acquiring an additional 1,136 shares during the period. CWM LLC raised its position in CNX Resources by 77.0% during the third quarter. CWM LLC now owns 2,149 shares of the oil and gas producer's stock valued at $70,000 after acquiring an additional 935 shares in the last quarter. Natixis acquired a new position in CNX Resources in the first quarter valued at approximately $79,000. Finally, Innealta Capital LLC purchased a new stake in CNX Resources in the 2nd quarter worth approximately $131,000. 95.16% of the stock is owned by hedge funds and other institutional investors.

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.