CNX Resources (NYSE:CNX) Issues Quarterly Earnings Results, Beats Expectations By $0.09 EPS

CNX Resources (NYSE:CNX) released its earnings results on Thursday. The oil and gas producer reported $0.36 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 business had revenue of $321.44 million during the quarter, compared to analysts’ expectations of $387.46 million. During the same quarter last year, the firm posted $0.29 earnings per share.

CNX Resources Stock Up 1.4 %

Shares of CNX stock traded up $0.34 during trading hours on Friday, reaching $25.35. The company had a trading volume of 4,432,698 shares, compared to its average volume of 2,705,203. CNX Resources has a 12 month low of $18.42 and a 12 month high of $26.60. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.41 and a quick ratio of 0.51. The business has a fifty day simple moving average of $25.13 and a 200-day simple moving average of $23.07. The company has a market cap of $3.88 billion, a price-to-earnings ratio of 4.59 and a beta of 1.37.

Analyst Ratings Changes

Several research firms recently commented on CNX. Piper Sandler raised their target price on CNX Resources from $18.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, April 19th. Stephens reissued an “equal weight” rating and issued a $27.00 price objective on shares of CNX Resources in a research note on Monday, July 15th. Mizuho raised their price objective on CNX Resources from $25.00 to $29.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. Roth Mkm raised their price objective on CNX Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Finally, Truist Financial raised their price objective on CNX Resources from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price 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.