CNX Resources (CNX, Financial) experienced a significant stock movement with a 5.09% drop in its share price. The stock is currently trading at $29.65 with a trading volume of 3.03978 million shares, a turnover rate of 2.04%, and a price fluctuation of 3.93%.
Recent financial reports show that CNX Resources achieved a revenue of $335 million, a net profit of $65.54 million, and earnings per share of $0.44. The company has a gross profit of $65.32 million and a price-to-earnings ratio of 9.67. Analyst ratings indicate that 8% of the 13 institutions covering the stock recommend buying, 38% recommend holding, and 54% suggest selling.
Within the oil and gas exploration and development industry, where CNX operates, the overall sector saw a 1.19% increase. Notable performers in the sector include Aleanna Inc and Houston Energy, while Trio Petroleum Corp and Indonesia Energy Corporation Limited showed significant trading activity.
CNX Resources is an independent natural gas and midstream company focused on low-carbon intensity operations in the Appalachian Basin. The company’s operations include shale and coalbed methane segments, with the shale segment being the primary revenue driver.
The stock's decline was influenced by Morgan Stanley's recent coverage, which initiated a rating of "underweight" for CNX Resources with a target price of $29.00.
