CNX Resources Co. to Post Q3 2024 Earnings of $0.39 Per Share, Capital One Financial Forecasts (NYSE:CNX)

CNX Resources Co. (NYSE:CNX) – Capital One Financial increased their Q3 2024 earnings estimates for shares of CNX Resources in a note issued to investors on Tuesday, April 30th. Capital One Financial analyst B. Velie now anticipates that the oil and gas producer will post earnings per share of $0.39 for the quarter, up from their previous estimate of $0.35. The consensus estimate for CNX Resources’ current full-year earnings is $1.35 per share.

Several other analysts also recently commented on the stock. Scotiabank raised their target price on shares of CNX Resources from $20.00 to $25.00 and gave the stock a “sector underperform” rating in a report on Thursday, April 11th. Roth Mkm raised their price target on shares of CNX Resources from $18.00 to $22.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Mizuho raised their price target on shares of CNX Resources from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Piper Sandler raised their price target on shares of CNX Resources from $18.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, April 19th. Finally, Truist Financial raised their price target on shares of CNX Resources from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $24.43.

CNX Resources Stock Performance

Shares of CNX stock opened at $23.29 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.51 and a current ratio of 0.53. The company has a market capitalization of $3.57 billion, a P/E ratio of 4.22 and a beta of 1.36. The company’s 50 day moving average price is $22.89 and its two-hundred day moving average price is $21.44. CNX Resources has a 52 week low of $14.41 and a 52 week high of $24.82.

Insider Activity at CNX Resources

In related news, EVP Timothy Scott Bedard sold 1,226 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $20.83, for a total value of $25,537.58. Following the completion of the transaction, the executive vice president now directly owns 67,982 shares of the company’s stock, valued at $1,416,065.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On CNX Resources

Hedge funds and other institutional investors have recently made changes to their positions in the company. Neo Ivy Capital Management bought a new position in shares of CNX Resources in the third quarter valued at $26,000. BluePath Capital Management LLC bought a new position in shares of CNX Resources in the third quarter valued at $32,000. Castleview Partners LLC bought a new position in shares of CNX Resources in the third quarter valued at $41,000. Hexagon Capital Partners LLC boosted its position 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 purchasing an additional 1,136 shares during the period. Finally, Adirondack Trust Co. bought a new position in CNX Resources during the third quarter worth $54,000. 95.16% of the stock is owned by institutional investors.

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.