CNX Resources (NYSE:CNX) Releases Quarterly Earnings Results, Beats Estimates By $0.09 EPS
CNX Resources (NYSE:CNX) issued its quarterly earnings results on Thursday. The oil and gas producer reported $0.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.09, Fidelity Earnings reports. CNX Resources had a positive return on equity of 1.45% and a negative net margin of 39.32%. The company had revenue of $148.80 million for the quarter, compared to analyst estimates of $328.76 million. During the same quarter last year, the company posted $0.06 EPS. The company’s revenue for the quarter was down 75.4% compared to the same quarter last year.
Shares of NYSE:CNX traded up $0.31 during midday trading on Friday, reaching $9.65. The company’s stock had a trading volume of 5,720,556 shares, compared to its average volume of 4,178,642. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of -2.86 and a beta of 1.55. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.15 and a current ratio of 0.90. The firm has a 50 day moving average price of $9.15 and a two-hundred day moving average price of $8.44. CNX Resources has a fifty-two week low of $4.26 and a fifty-two week high of $14.19.
Several equities analysts have recently issued reports on the company. SunTrust Banks lifted their price target on CNX Resources from $7.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, April 24th. ValuEngine lowered CNX Resources from a “hold” rating to a “sell” rating in a research report on Saturday. Raymond James reduced their price objective on CNX Resources from $14.00 to $12.00 and set an “outperform” rating on the stock in a research report on Monday, July 20th. Cfra boosted their price objective on CNX Resources from $7.50 to $14.00 and gave the stock a “hold” rating in a research report on Monday, April 27th. Finally, BMO Capital Markets started coverage on CNX Resources in a research report on Wednesday, June 17th. They set an “outperform” rating and a $13.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $11.41.
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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