CNX Resources (NYSE:CNX) Announces Quarterly Earnings Results

CNX Resources (NYSE:CNX) issued its quarterly earnings data on Thursday. The oil and gas producer reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.09, Zacks reports. 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 analysts’ expectations of $387.46 million. During the same quarter in the previous year, the company earned $0.29 EPS.

CNX Resources Trading Up 1.4 %

Shares of NYSE:CNX traded up $0.34 during trading on Friday, reaching $25.35. The stock had a trading volume of 4,432,698 shares, compared to its average volume of 2,705,203. The firm’s fifty day moving average is $25.13 and its 200 day moving average is $23.09. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.51 and a current ratio of 0.41. CNX Resources has a 52 week low of $18.42 and a 52 week high of $26.60. The stock has a market cap of $3.88 billion, a price-to-earnings ratio of 4.59 and a beta of 1.37.

Wall Street Analyst Weigh In

CNX has been the subject of several analyst reports. Truist Financial boosted their target price on shares of CNX Resources from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. StockNews.com raised shares of CNX Resources from a “sell” rating to a “hold” rating in a report on Friday. Scotiabank lifted their price target on shares of CNX Resources from $20.00 to $25.00 and gave the company a “sector underperform” rating in a report on Thursday, April 11th. Piper Sandler lifted their price target on shares of CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, April 19th. Finally, Stephens reaffirmed an “equal weight” rating and set a $27.00 price target on shares of CNX Resources in a report on Monday, July 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $25.57.

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.