Analysts expect CNX Resources Corp (NYSE:CNX) to report earnings of ($0.01) per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for CNX Resources’ earnings, with estimates ranging from ($0.17) to $0.20. CNX Resources posted earnings per share of $0.17 during the same quarter last year, which indicates a negative year over year growth rate of 105.9%. The company is expected to announce its next earnings report on Tuesday, October 29th.
On average, analysts expect that CNX Resources will report full year earnings of $0.47 per share for the current year, with EPS estimates ranging from $0.31 to $0.75. For the next financial year, analysts expect that the firm will report earnings of $0.28 per share, with EPS estimates ranging from ($0.30) to $0.72. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover CNX Resources.
CNX Resources (NYSE:CNX) last posted its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.06). The business had revenue of $605.03 million during the quarter, compared to the consensus estimate of $357.30 million. CNX Resources had a return on equity of 4.09% and a net margin of 17.60%. The business’s revenue was up 50.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.33 earnings per share.
In other news, Director Bernard Lanigan, Jr. acquired 200,000 shares of CNX Resources stock in a transaction dated Friday, July 26th. The stock was acquired at an average cost of $6.39 per share, for a total transaction of $1,278,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director J. Palmer Clarkson acquired 20,000 shares of CNX Resources stock in a transaction dated Tuesday, June 25th. The stock was purchased at an average price of $6.98 per share, with a total value of $139,600.00. The disclosure for this purchase can be found here. Insiders acquired 497,550 shares of company stock valued at $3,489,382 over the last three months. Insiders own 2.40% of the company’s stock.
Several institutional investors have recently modified their holdings of CNX. BlackRock Inc. lifted its stake in shares of CNX Resources by 26.6% in the second quarter. BlackRock Inc. now owns 22,888,655 shares of the oil and gas producer’s stock worth $167,316,000 after buying an additional 4,816,203 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of CNX Resources by 138.4% in the second quarter. JPMorgan Chase & Co. now owns 3,151,053 shares of the oil and gas producer’s stock worth $22,499,000 after buying an additional 1,829,495 shares during the last quarter. LSV Asset Management lifted its stake in shares of CNX Resources by 291.2% in the first quarter. LSV Asset Management now owns 2,138,100 shares of the oil and gas producer’s stock worth $23,027,000 after buying an additional 1,591,600 shares during the last quarter. Caymus Capital Partners L.P. acquired a new stake in shares of CNX Resources in the second quarter worth $7,885,000. Finally, Paloma Partners Management Co lifted its stake in shares of CNX Resources by 562.0% in the second quarter. Paloma Partners Management Co now owns 1,072,446 shares of the oil and gas producer’s stock worth $7,839,000 after buying an additional 910,448 shares during the last quarter. Institutional investors and hedge funds own 98.15% of the company’s stock.
CNX stock traded down $0.04 during trading hours on Friday, hitting $7.55. The company’s stock had a trading volume of 4,174,437 shares, compared to its average volume of 6,126,033. The company has a quick ratio of 0.72, a current ratio of 0.74 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $1.42 billion, a PE ratio of 4.93 and a beta of 0.67. CNX Resources has a 12 month low of $6.14 and a 12 month high of $16.09. The stock has a 50 day moving average price of $7.16 and a two-hundred day moving average price of $8.81.
About CNX Resources
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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