CNX Resources Corp (NYSE:CNX) – Equities researchers at Jefferies Financial Group raised their Q1 2019 earnings per share (EPS) estimates for CNX Resources in a report released on Wednesday, October 31st. Jefferies Financial Group analyst Z. Parham now forecasts that the oil and gas producer will post earnings of $0.34 per share for the quarter, up from their prior forecast of $0.26. Jefferies Financial Group also issued estimates for CNX Resources’ Q2 2019 earnings at $0.30 EPS, Q3 2019 earnings at $0.28 EPS and Q1 2020 earnings at $0.46 EPS.
CNX has been the topic of a number of other research reports. Zacks Investment Research downgraded CNX Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. TheStreet raised CNX Resources from a “d+” rating to a “b” rating in a research report on Tuesday. ValuEngine cut CNX Resources from a “sell” rating to a “strong sell” rating in a report on Thursday, September 27th. Goldman Sachs Group cut CNX Resources from a “neutral” rating to a “sell” rating and set a $14.00 price target for the company. in a report on Tuesday, September 11th. They noted that the move was a valuation call. Finally, Raymond James cut CNX Resources from a “market perform” rating to an “underperform” rating in a report on Monday, August 6th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. CNX Resources currently has an average rating of “Hold” and a consensus target price of $21.50.
NYSE:CNX opened at $15.64 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.65 and a current ratio of 0.59. The stock has a market capitalization of $3.04 billion, a P/E ratio of 17.19 and a beta of 1.02. CNX Resources has a 52-week low of $11.69 and a 52-week high of $18.37.
CNX Resources (NYSE:CNX) last released its earnings results on Tuesday, October 30th. The oil and gas producer reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). The company had revenue of $397.10 million during the quarter, compared to analyst estimates of $376.23 million. CNX Resources had a net margin of 54.81% and a return on equity of 3.73%. CNX Resources’s revenue was up 38.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.11) EPS.
In other CNX Resources news, Director J. Palmer Clarkson purchased 10,000 shares of CNX Resources stock in a transaction that occurred on Thursday, August 16th. The stock was acquired at an average price of $14.90 per share, for a total transaction of $149,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.00% of the company’s stock.
Several large investors have recently modified their holdings of the company. Chicago Equity Partners LLC boosted its holdings in shares of CNX Resources by 701.0% during the third quarter. Chicago Equity Partners LLC now owns 92,115 shares of the oil and gas producer’s stock worth $1,318,000 after acquiring an additional 80,615 shares during the period. Vantage Investment Partners LLC boosted its holdings in shares of CNX Resources by 2.2% during the third quarter. Vantage Investment Partners LLC now owns 733,600 shares of the oil and gas producer’s stock worth $10,497,000 after acquiring an additional 15,700 shares during the period. Arizona State Retirement System boosted its holdings in shares of CNX Resources by 11.1% during the third quarter. Arizona State Retirement System now owns 151,282 shares of the oil and gas producer’s stock worth $2,165,000 after acquiring an additional 15,120 shares during the period. Barings LLC bought a new stake in shares of CNX Resources during the third quarter worth approximately $392,000. Finally, State Treasurer State of Michigan boosted its holdings in shares of CNX Resources by 9.1% during the third quarter. State Treasurer State of Michigan now owns 78,800 shares of the oil and gas producer’s stock worth $1,128,000 after acquiring an additional 6,600 shares during the period. Institutional investors own 95.29% of the company’s stock.
About CNX Resources
CNX Resources Corporation, an independent oil and natural gas company, explores for, develops, and produces natural gas in the Appalachian Basin. As of December 31, 2017, it had 7.6 trillion cubic feet equivalent of proved natural gas reserves. The company also owns, operates, and develops natural gas gathering and other midstream energy assets in the Marcellus Shale in Pennsylvania and West Virginia.
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