CNX Resources (NYSE:CNX) Announces Earnings Results, Beats Expectations By $0.09 EPS

CNX Resources (NYSE:CNX - Get Free Report) issued its quarterly earnings data on Thursday. The oil and gas producer reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.09, Zacks reports. CNX Resources had a return on equity of 7.51% and a net margin of 26.64%. The business had revenue of $424.21 million for the quarter, compared to analyst estimates of $398.33 million. During the same quarter in the prior year, the firm posted $0.35 EPS.

CNX Resources Price Performance

Shares of CNX Resources stock traded down $0.63 during midday trading on Friday, hitting $36.57. 2,420,944 shares of the company were exchanged, compared to its average volume of 2,722,182. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.41 and a quick ratio of 0.40. The firm has a market cap of $5.60 billion, a P/E ratio of 6.63 and a beta of 1.38. CNX Resources has a 52 week low of $19.07 and a 52 week high of $37.57. The firm has a 50 day simple moving average of $30.89 and a 200-day simple moving average of $26.98.

Wall Street Analysts Forecast Growth

CNX has been the subject of several recent analyst reports. Truist Financial increased their target price on CNX Resources from $31.00 to $38.00 and gave the company a "buy" rating in a research note on Monday, September 30th. JPMorgan Chase & Co. increased their target price on CNX Resources from $26.00 to $27.00 and gave the company a "neutral" rating in a research note on Thursday, September 12th. Tudor, Pickering, Holt & Co. downgraded CNX Resources from a "hold" rating to a "sell" rating in a research note on Tuesday, October 1st. Capital One Financial downgraded CNX Resources from an "overweight" rating to an "equal weight" rating and set a $25.00 target price for the company. in a research note on Monday, October 14th. Finally, Piper Sandler downgraded CNX Resources from a "neutral" rating to an "underweight" rating and decreased their target price for the company from $22.00 to $20.00 in a research note on Thursday, August 15th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $27.90.

Insider Buying and Selling

In related news, Director Bernard Lanigan, Jr. bought 75,000 shares of the business's stock in a transaction that occurred on Monday, September 9th. The stock was acquired at an average price of $26.81 per share, for a total transaction of $2,010,750.00. Following the transaction, the director now directly owns 401,820 shares of the company's stock, valued at $10,772,794.20. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.10% of the stock is owned by corporate insiders.

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.