Q2 2018 Earnings Forecast for CNX Resources Corp (CNX) Issued By Jefferies Financial Group

CNX Resources Corp (NYSE:CNX) – Investment analysts at Jefferies Financial Group lifted their Q2 2018 earnings per share estimates for shares of CNX Resources in a research report issued on Wednesday, July 18th. Jefferies Financial Group analyst Z. Parham now expects that the oil and gas producer will earn $0.14 per share for the quarter, up from their previous estimate of $0.11. Jefferies Financial Group also issued estimates for CNX Resources’ Q1 2019 earnings at $0.19 EPS, Q3 2019 earnings at $0.11 EPS and Q1 2020 earnings at $0.33 EPS.

CNX Resources (NYSE:CNX) last released its earnings results on Thursday, May 3rd. The oil and gas producer reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.07. The firm had revenue of $496.00 million during the quarter, compared to the consensus estimate of $408.68 million. CNX Resources had a return on equity of 1.36% and a net margin of 37.74%. The firm’s revenue for the quarter was up 55.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.17 earnings per share.

A number of other analysts also recently weighed in on CNX. Zacks Investment Research downgraded shares of CNX Resources from a “hold” rating to a “sell” rating in a report on Wednesday, July 11th. ValuEngine upgraded shares of CNX Resources from a “sell” rating to a “hold” rating in a research report on Friday, June 1st. Finally, Stifel Nicolaus assumed coverage on shares of CNX Resources in a research report on Tuesday, May 22nd. They set a “hold” rating and a $18.00 price objective for the company. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $21.50.

CNX opened at $17.04 on Thursday. The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of -106.50 and a beta of 1.16. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.93 and a quick ratio of 0.91. CNX Resources has a 1-year low of $11.57 and a 1-year high of $18.37.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its position in CNX Resources by 27.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 14,937,828 shares of the oil and gas producer’s stock valued at $230,491,000 after acquiring an additional 3,202,772 shares during the period. Geode Capital Management LLC increased its position in shares of CNX Resources by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 1,787,243 shares of the oil and gas producer’s stock worth $26,146,000 after buying an additional 77,280 shares during the period. Bank of Montreal Can increased its position in shares of CNX Resources by 10.4% during the second quarter. Bank of Montreal Can now owns 1,466,626 shares of the oil and gas producer’s stock worth $26,077,000 after buying an additional 138,034 shares during the period. Dalton Greiner Hartman Maher & Co. increased its position in shares of CNX Resources by 6.2% during the first quarter. Dalton Greiner Hartman Maher & Co. now owns 1,320,378 shares of the oil and gas producer’s stock worth $20,373,000 after buying an additional 77,533 shares during the period. Finally, Southeast Asset Advisors Inc. increased its position in shares of CNX Resources by 25.8% during the first quarter. Southeast Asset Advisors Inc. now owns 1,027,742 shares of the oil and gas producer’s stock worth $15,858,000 after buying an additional 210,730 shares during the period. Hedge funds and other institutional investors own 96.01% of the company’s stock.

CNX Resources Company Profile

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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Earnings History and Estimates for CNX Resources (NYSE:CNX)

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