CNX Resources Corp (NYSE:CNX) – Analysts at Jefferies Financial Group upped their Q2 2019 EPS estimates for CNX Resources in a report issued on Tuesday, May 14th. Jefferies Financial Group analyst Z. Parham now forecasts that the oil and gas producer will post earnings per share of $0.24 for the quarter, up from their prior estimate of $0.17. Jefferies Financial Group also issued estimates for CNX Resources’ Q4 2019 earnings at $0.26 EPS, FY2019 earnings at $1.06 EPS, Q1 2021 earnings at $0.20 EPS and FY2021 earnings at $0.87 EPS.
CNX Resources (NYSE:CNX) last issued its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.14 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.07). CNX Resources had a net margin of 12.00% and a return on equity of 5.66%. The business had revenue of $278.40 million for the quarter, compared to analysts’ expectations of $408.29 million. During the same quarter in the prior year, the company posted $0.19 EPS. The business’s revenue for the quarter was down 43.8% on a year-over-year basis.
Several other brokerages have also commented on CNX. Zacks Investment Research lowered CNX Resources from a “buy” rating to a “hold” rating in a report on Friday, January 25th. Tudor Pickering lowered CNX Resources from a “buy” rating to a “hold” rating in a report on Friday, February 1st. ValuEngine lowered CNX Resources from a “sell” rating to a “strong sell” rating in a report on Thursday, January 31st. Susquehanna Bancshares set a $11.00 price objective on CNX Resources and gave the company a “hold” rating in a report on Saturday, February 2nd. Finally, Robert W. Baird reiterated a “buy” rating and set a $15.00 price objective on shares of CNX Resources in a report on Monday, February 4th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. CNX Resources presently has a consensus rating of “Hold” and an average target price of $14.83.
Shares of CNX opened at $8.47 on Thursday. CNX Resources has a 12 month low of $8.44 and a 12 month high of $18.37. The company has a quick ratio of 0.59, a current ratio of 0.62 and a debt-to-equity ratio of 0.49. The firm has a market cap of $1.79 billion, a PE ratio of 5.54 and a beta of 0.71.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC increased its position in shares of CNX Resources by 25.6% in the 4th quarter. Millennium Management LLC now owns 4,314,333 shares of the oil and gas producer’s stock valued at $49,270,000 after acquiring an additional 878,654 shares during the period. Morgan Stanley increased its position in shares of CNX Resources by 97.0% in the 3rd quarter. Morgan Stanley now owns 1,623,046 shares of the oil and gas producer’s stock valued at $23,225,000 after acquiring an additional 799,145 shares during the period. Quantamental Technologies LLC acquired a new position in shares of CNX Resources in the 4th quarter valued at $175,000. Norges Bank acquired a new position in shares of CNX Resources in the 4th quarter valued at $41,498,000. Finally, Prudential Financial Inc. increased its position in shares of CNX Resources by 4.9% in the 4th quarter. Prudential Financial Inc. now owns 2,300,835 shares of the oil and gas producer’s stock valued at $26,275,000 after acquiring an additional 107,412 shares during the period. 98.10% of the stock is currently owned by hedge funds and other institutional investors.
CNX Resources Company Profile
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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