CNX Resources (NYSE:CNX) issued its quarterly earnings data on Thursday. The oil and gas producer reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.09, Fidelity Earnings reports. The business had revenue of $148.80 million for the quarter, compared to analysts’ expectations of $328.76 million. CNX Resources had a positive return on equity of 1.45% and a negative net margin of 39.32%. The company’s revenue for the quarter was down 75.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.06 EPS.
CNX Resources stock traded up $0.31 during mid-day trading on Friday, hitting $9.65. The company’s stock had a trading volume of 5,720,556 shares, compared to its average volume of 4,178,642. The company has a 50 day moving average of $9.15 and a 200-day moving average of $8.44. The stock has a market cap of $1.81 billion, a PE ratio of -2.86 and a beta of 1.55. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.15 and a current ratio of 0.90. CNX Resources has a one year low of $4.26 and a one year high of $14.19.
Several brokerages have recently issued reports on CNX. ValuEngine cut CNX Resources from a “hold” rating to a “sell” rating in a report on Saturday. Stifel Nicolaus lowered CNX Resources from a “buy” rating to a “hold” rating and set a $9.00 price target on the stock. in a report on Monday, June 1st. Raymond James decreased their price target on CNX Resources from $14.00 to $12.00 and set an “outperform” rating on the stock in a report on Monday, July 20th. Piper Sandler assumed coverage on CNX Resources in a report on Wednesday, July 8th. They set a “neutral” rating and a $9.00 price target on the stock. Finally, BMO Capital Markets assumed coverage on CNX Resources in a report on Wednesday, June 17th. They set an “outperform” rating and a $13.00 price target on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $11.68.
CNX Resources Corporation, an independent oil and gas company, explores for, develops, and produces natural gas primarily in the Appalachian Basin. The company operates through two divisions, Exploration and Production (E&P), and Midstream. The E&P division produces pipeline quality natural gas primarily to gas wholesalers.
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