CNX Resources (NYSE:CNX) Issues Earnings Results, Beats Estimates By $0.94 EPS

CNX Resources (NYSE:CNX) posted its earnings results on Thursday. The oil and gas producer reported $1.28 EPS for the quarter, beating the consensus estimate of $0.34 by $0.94, FiscalAI reports. CNX Resources had a return on equity of 9.10% and a net margin of 16.56%.The firm had revenue of $610.48 million for the quarter, compared to analysts’ expectations of $422.65 million. During the same period last year, the firm earned ($0.97) EPS. The firm’s revenue was up 347.0% compared to the same quarter last year.

Here are the key takeaways from CNX Resources’ conference call:

• CNX is front‑loading capital with roughly 60% of 2026 CapEx in H1 while forecasting a flat production profile for the year to preserve flexibility to accelerate fracking in H2 if prices improve.
• The company is about 60% hedged for 2027 today and expects to be ~80% hedged heading into the year, with a weighted‑average NYMEX target near $4, which management says supports strong performance.
• Management reiterated confidence in the deep Utica program—three deep Utica wells came online in line with expectations, average Utica cost was ~$1,700 per foot, and spacing tests at 1,300′ and 1,500′ are underway.
• The PA Tier 1 REC market has softened and appears to be trading near the marginal cost of new renewables (limiting near‑term upside), while the 45Z business is expected to run at roughly $30 million annually on current production guidance.
• CNX will not chase short‑term spot gas moves and will only add activity tied to durable demand/infrastructure signals; management does not expect weather to materially disrupt operations in Q1.

CNX Resources Stock Up 0.5%

NYSE:CNX traded up $0.19 during trading hours on Thursday, hitting $36.92. 577,549 shares of the company’s stock traded hands, compared to its average volume of 1,882,549. The stock’s fifty day moving average price is $37.53 and its two-hundred day moving average price is $33.72. The firm has a market cap of $4.98 billion, a P/E ratio of 25.82, a P/E/G ratio of 0.38 and a beta of 0.63. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.31 and a current ratio of 0.34. CNX Resources has a twelve month low of $27.00 and a twelve month high of $42.13.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CNX shares. Piper Sandler upped their price objective on shares of CNX Resources from $24.00 to $25.00 and gave the stock an “underweight” rating in a report on Wednesday. Morgan Stanley boosted their target price on CNX Resources from $31.00 to $32.00 and gave the stock an “underweight” rating in a report on Friday, January 23rd. JPMorgan Chase & Co. raised CNX Resources from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $36.00 to $38.00 in a research note on Monday, December 8th. Barclays reaffirmed an “underweight” rating on shares of CNX Resources in a report on Wednesday, January 21st. Finally, Mizuho lifted their price objective on shares of CNX Resources from $35.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $35.89.

Institutional Trading of CNX Resources

A number of hedge funds have recently made changes to their positions in CNX. Dark Forest Capital Management LP purchased a new position in CNX Resources in the third quarter valued at about $391,000. Arrowstreet Capital Limited Partnership acquired a new position in CNX Resources in the third quarter worth approximately $623,000. Quadrant Capital Group LLC raised its position in CNX Resources by 12.5% during the third quarter. Quadrant Capital Group LLC now owns 11,137 shares of the oil and gas producer’s stock valued at $358,000 after acquiring an additional 1,235 shares in the last quarter. Tower Research Capital LLC TRC grew its position in CNX Resources by 61.6% in the second quarter. Tower Research Capital LLC TRC now owns 25,725 shares of the oil and gas producer’s stock worth $866,000 after acquiring an additional 9,810 shares in the last quarter. Finally, Tidal Investments LLC increased its stake in shares of CNX Resources by 120.0% during the 2nd quarter. Tidal Investments LLC now owns 15,929 shares of the oil and gas producer’s stock worth $536,000 after purchasing an additional 8,690 shares during the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

About CNX Resources

CNX Resources Corporation is a natural gas and natural gas liquids producer with operations concentrated in the Appalachian Basin. Established as an independent, publicly traded entity in 2018 following its spinoff from Consol Energy, the company focuses on the exploration, development and production of hydrocarbon resources in the Marcellus and Utica shales across Pennsylvania, West Virginia and Ohio.

In addition to its upstream activities, CNX Resources has invested in midstream infrastructure through its subsidiary that gathers, processes and transports natural gas.