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

CNX Resources (NYSE:CNX) posted its earnings results on Thursday. The oil and gas producer reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.09, Zacks reports. CNX Resources had a return on equity of 7.51% and a net margin of 26.64%. The firm had revenue of $321.44 million for the quarter, compared to analyst estimates of $387.46 million. During the same quarter in the prior year, the company earned $0.29 EPS.

CNX Resources Stock Performance

NYSE:CNX traded up $0.34 during mid-day trading on Friday, reaching $25.35. 4,432,698 shares of the stock were exchanged, compared to its average volume of 2,705,203. The company has a 50 day simple moving average of $25.13 and a 200-day simple moving average of $23.09. The stock has a market capitalization of $3.88 billion, a P/E ratio of 4.59 and a beta of 1.37. The company has a quick ratio of 0.51, a current ratio of 0.41 and a debt-to-equity ratio of 0.46. CNX Resources has a 1 year low of $18.42 and a 1 year high of $26.60.

Analyst Upgrades and Downgrades

CNX has been the topic of a number of analyst reports. Mizuho increased their price target on CNX Resources from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. StockNews.com raised CNX Resources from a “sell” rating to a “hold” rating in a research report on Friday. Stephens reaffirmed an “equal weight” rating and issued a $27.00 price target on shares of CNX Resources in a research report on Monday, July 15th. Piper Sandler increased their price target on CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday, April 19th. Finally, Truist Financial increased their price target on CNX Resources from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $25.57.

CNX Resources Company Profile

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.