CNX Resources Corp (NYSE:CNX) – Stock analysts at Jefferies Financial Group increased their Q4 2018 earnings estimates for shares of CNX Resources in a research note issued on Wednesday, October 31st. Jefferies Financial Group analyst Z. Parham now expects that the oil and gas producer will post earnings of $0.36 per share for the quarter, up from their prior forecast of $0.21. Jefferies Financial Group also issued estimates for CNX Resources’ Q4 2019 earnings at $0.39 EPS, FY2019 earnings at $1.31 EPS, Q2 2020 earnings at $0.49 EPS, Q3 2020 earnings at $0.43 EPS and FY2020 earnings at $1.94 EPS.
Several other analysts also recently weighed in on the stock. Goldman Sachs Group downgraded shares of CNX Resources from a “neutral” rating to a “sell” rating and set a $14.00 price objective for the company. in a research report on Tuesday, September 11th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of CNX Resources from a “hold” rating to a “strong-buy” rating and set a $17.00 price objective for the company in a research report on Wednesday, September 19th. Raymond James restated a “sell” rating on shares of CNX Resources in a research report on Thursday, August 30th. ValuEngine downgraded shares of CNX Resources from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 27th. Finally, TheStreet raised shares of CNX Resources from a “d+” rating to a “b” rating in a report on Tuesday, October 30th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $21.50.
CNX Resources (NYSE:CNX) last issued its quarterly earnings data on Tuesday, October 30th. The oil and gas producer reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.02). The company had revenue of $397.10 million for the quarter, compared to analysts’ expectations of $376.23 million. CNX Resources had a return on equity of 3.73% and a net margin of 54.81%. The firm’s quarterly revenue was up 38.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.11) EPS.
In other CNX Resources news, Director J. Palmer Clarkson bought 10,000 shares of the business’s stock in a transaction dated Thursday, August 16th. The shares were acquired at an average cost of $14.90 per share, with a total value of $149,000.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.00% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. WINTON GROUP Ltd acquired a new position in shares of CNX Resources in the 3rd quarter valued at $162,000. Commonwealth Equity Services LLC increased its holdings in shares of CNX Resources by 61.8% in the 1st quarter. Commonwealth Equity Services LLC now owns 16,253 shares of the oil and gas producer’s stock valued at $250,000 after acquiring an additional 6,205 shares during the period. First Citizens Bank & Trust Co. acquired a new position in shares of CNX Resources in the 3rd quarter valued at $237,000. Strs Ohio acquired a new position in shares of CNX Resources in the 2nd quarter valued at $299,000. Finally, State of Alaska Department of Revenue increased its holdings in shares of CNX Resources by 36.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 24,460 shares of the oil and gas producer’s stock valued at $434,000 after acquiring an additional 6,580 shares during the period. 95.29% of the stock is currently owned by institutional investors and hedge funds.
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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